IDEAS home Printed from https://ideas.repec.org/a/cai/repdal/redp_322_0313.html
   My bibliography  Save this article

Le fonds de sortie des emprunts toxiques : une alternative au contentieux ?

Author

Listed:
  • Maxime Fajeau
  • Samuel Ligonnière
  • Alexandre Mayol

Abstract

Faced with the municipal toxic loans crisis, the French state has created a support fund conditioned on local governments abandoning the legal proceedings against these structured credits. This article econometrically studies the State?s strategy by retrieving the factors explaining the fund?s assistance to the municipalities. The overhead ratio of these toxic loans stands out as the main factor in granting the funds? aid, ahead of the municipalities? financial situation. This indicator was used as a basis for the legal authorities to rule in favor of the municipalities. The fact that it predicts the fund?s support reflects the State?s strategy to limit litigation opportunity. This contribution thus discusses the strategic choices for settling the crisis.

Suggested Citation

  • Maxime Fajeau & Samuel Ligonnière & Alexandre Mayol, 2022. "Le fonds de sortie des emprunts toxiques : une alternative au contentieux ?," Revue d'économie politique, Dalloz, vol. 132(2), pages 313-340.
    • Handle: RePEc:cai:repdal:redp_322_0313
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=REDP_322_0313
    Download Restriction: free
    File URL: http://www.cairn.info/revue-d-economie-politique-2022-2-page-313.htm
    Download Restriction: free
    ---><---

    More about this item

    Keywords

    Dexia; Support Fund; Municipalities; Local Public Debt; Public Policy; Conflict Analysis; D74; G2; H12; H7; H81; K41;
    All these keywords.

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • G2 - Financial Economics - - Financial Institutions and Services
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

    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:repdal:redp_322_0313. 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-politique.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.