Empirical Approach of Leading the Academic Advising Process in Higher Education-Juniper Publishers
Annals of Social Sciences & Management Studies-Juniper Publishers Mini Review In context of financial systems and their workings, definitions of systemic risk as well as financial contagion seems relatively vague and easily interchanged with one another. However, Zigrand [2] provides a valuable definition where he identifies systemic risk as the probability of an adverse event leading to a breakdown of an otherwise functioning system. At its core level, systemic risk is caused by systemic events and these events are such that their effect is in greater magnitude to a financial systems performance as the original event would have suggested. Hence, while contagion captures spillover effects of an exogenous shock to a node on another connected node, systemic risk examines a more extreme case where the bank the shock originates from feel some residue having been, to some degree, neutralised by other interconnected nodes. Therefore, a lot of financial systems researchers in...