IDEAS home Printed from https://ideas.repec.org/a/cai/refaef/ecofi_137_0023.html
   My bibliography  Save this article

La conversion de la France au libéralisme financier

Author

Listed:
  • Michel Castel

Abstract

How did France switch to a policy of monetarist inspiration only two years after the election of President Mitterrand in 1981, elected on a left-wing program? Two main types of reasons led her to make this switch. The first is common to all OECD countries from 1973, the second is specific to France. In addition to a very serious deterioration in the economic situation throughout the OECD, there has been the observation of the growing ineffectiveness of Keynesian policies and the idea that monetarist policies would be more effective. For its part, France had, more than others, sacrificed to a debt economy with ever more inflation and unemployment. Furthermore, in 1981, France economic policy was at the opposite of the international economic situation and the monetarist policies developed in the Anglo-Saxon countries. This, plus the commitment to sharply lowering inflation, very quickly led her to choose a policy of monetarist inspiration. Classification JEL : E61, E63, G21, G23, G28.

Suggested Citation

  • Michel Castel, 2020. "La conversion de la France au libéralisme financier," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 23-34.
    • Handle: RePEc:cai:refaef:ecofi_137_0023
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOFI_137_0023
    Download Restriction: free
    File URL: http://www.cairn.info/revue-d-economie-financiere-2020-1-page-23.htm
    Download Restriction: free
    ---><---

    More about this item

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:refaef:ecofi_137_0023. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-d-economie-financiere.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.