GLOBALISATION EFFECTS UPON THE ECONOMY IN TERMS OF RISK AND INCERTITUDE
CRISTINA NITESCU1
1 PhD candidate within National Institute of Economic Research of Romanian Academy; Counselor within the Paying Agency for Rural Development and Fishery, address: 2, George Enescu Str, Tārgovişte, Romania, e-mail addresses: cristina.nitescu@apdrp.ro, crissnitescu@yahoo.com; phone number: 0722859050
Abstract. Globalisation effects upon the economy in terms of risk and
incertitude. Globalization represents the process of mutual integration among
the worldwide countries which leads, on one hand, to significant cost reducing
of transport and communications and, on the other hand, it generates artificial
barriers which can block the circulation of goods, services, capital, knowledge
and in a smaller measures people. However, under the circumstance of risk and
incertitude a substantiate decision requires strong knowledge and in due time of
two ways, internal and external, where the trade agents carry out their activity
as well as the rationalization of actions and human decisions which consist not
only of prevention and avoiding the risks
and their consequences but also the reducing the uncertainty and the misjudgment
at the acceptable levels in the given situations.
Key words: globalization, risk, incertitude, decision factors, economy
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