Coping with Uncertainty in the Financial Services Sector: A Few Policy Reflections

Zuhayr Mikdashi

Chapter 22 in Financial Strategies and Public Policies, 1993, pp 180-195 from Palgrave Macmillan

Abstract: Abstract Human beings have always had to grapple with a multitude of phenomena beyond their grasp or control. Thanks to experience and research, the frontiers of knowledge are expanding and areas of uncertainty are receding. Business uncertainty can be defined as the potential of loss or gain which cannot be reasonably identified, measured, predicted or insured — using for example actuarial methods. Risk, by contrast, refers to the possibility of injury or gain, with adequate knowledge of the probability of the outcome — for example with respect to its occurrence, its timing, its size or its volatility. The boundaries between risk and uncertainty are in reality blurred.1

Keywords: Foreign Direct Investment; Monetary Policy; Business Group; European Central Bank; European Monetary Union (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12177-9_22

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DOI: 10.1007/978-1-349-12177-9_22

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