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La globalisation financière de la fin du XXe siècle

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  • Jacques Fontanel

    (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble)

Abstract

Globalization was strongly supported by the most powerful market economies after the collapse of the Soviet Union. With the creation of the World Trade Organization and the former Bretton Woods international institutions, open borders were recommended. In this context, the 3 D rule was imposed: disintermediation, decompartmentalization and deregulation. Neoclassical economic analysis strongly influenced this global restructuring of finance, which, according to its proponents, would ultimately lead to international peace, and even to the end of history. Some criticisms have been made of this movement, such as the domino risk, the retroactive risk of the inflation of derivatives and even the possibility of a systemic risk.

Suggested Citation

  • Jacques Fontanel, 1998. "La globalisation financière de la fin du XXe siècle," Post-Print hal-03383657, HAL.
    • Handle: RePEc:hal:journl:hal-03383657
    Note: View the original document on HAL open archive server: https://hal.univ-grenoble-alpes.fr/hal-03383657
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    File URL: https://hal.univ-grenoble-alpes.fr/hal-03383657/document
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    References listed on IDEAS

    as
    1. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    2. Jacques Fontanel & Liliane Bensahel, 1992. "La guerre économique," Post-Print hal-02927223, HAL.
    3. Abel Aganbeguyan & Jacques Fontanel, 1994. "Un monde en transition Les exemples de la Russie et de l'industrie d'armement," Post-Print hal-02943081, HAL.
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