Governance and institutions
Governance of systemic risk is the problem of assigning responsibility for risks that no single institution owns, and of deciding with incomplete evidence without either paralysis or overreach.
- 01In briefThe short answer
- 02Three mandatesThe field, seen three ways
- 03The systemic questionOwnerless risks and coordination
- 04FrameworksGovernance references
- 05CouplingsGovernance across the Consortium
- 06GroundingThe methods behind the field
- 07Key termsTerms used on this page
GCRI · Institution · service level R0
The short answer.
Governance and institutions as a field covers how institutions are mandated, organized and held accountable when they decide on risks that cross sectors and borders. In the Nexus Consortium it is studied as science at GCRI by Nexus Registry and Nexus Agency, governed at GRF by Research Nexus and Policy Nexus, and understood financially at GRA by Financial Regulation Nexus as well as Financial Crime and Fraud Risk; this gateway links those platforms and the methods they share.
Jurisdictions in the Mekong Basin.
The jurisdictions that hold authority over this question: countries, their first-level divisions and capitals, shown for the Mekong Basin as an example geography for this subject.
The field, seen three ways.
Ownerless risks and coordination.
The IRGC risk governance framework distinguishes simple, complex, uncertain and ambiguous risks and matches each with a style of governance: routine regulation, expert deliberation, precaution, or broad stakeholder discourse. Systemic risks tend to be all four at once, which is why mandates, coordination bodies and records of who decided what matter.
- Mandate mapping: which authority can act on which part of a risk.
- Coordination mechanisms across ministries and levels of government.
- Accountability records that survive staff and government turnover.
Governance references.
| Framework or body | What it governs or supplies |
|---|---|
| OECD Recommendation on the Governance of Critical Risks | Whole-of-government risk governance |
| IRGC risk governance framework | Pre-assessment, appraisal, characterisation, management and communication |
| Sendai Framework priority two | Strengthening disaster risk governance |
Governance across the Consortium.
- Records and identifiers on Nexus Registry.
- Technical assistance through Nexus Agency.
- Governance dialogue at GRF; this gateway lists its platforms below.
The methods behind the field.
- Data engineering, interoperability and stewardship
- Digital identity and public digital systems
- Cybersecurity and cryptography
- Systems engineering
- Decision analysis under uncertainty
- Policy, institutional and decision science
- Probability and statistics
- Causal inference and impact evaluation
- Game theory and mechanism design
- Financial economics and macro-finance
- Artificial intelligence and machine learning
- Network science and contagion
- Distributed ledgers and digital assets
Terms used on this page.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Provenance | Information about the entities, activities and people involved in producing a record, used to judge its quality and reliability, in the W3C PROV model. |
| Technical assistance | Support that supplies expertise, skills and analysis to an institution, leaving its decisions and authority with it. |
| Governance | The system by which an organization is directed, controlled and held accountable for achieving its purpose, as ISO 37000 frames it. |
| Persistent identifier | A long-lasting reference to a digital object, person or organisation, such as a DOI, ORCID iD or ROR ID, that resolves even when locations change. |
Where this page's references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
Questions and answers.
Why does GCRI host field gateways?
Around GCRI.
Start with an enquiry.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.