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La convergence est-elle nécessaire à la création d'une zone monétaire ? Réflexions sur l'étalon or 1880-1914

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  • Marc Flandreau

    (Centre for Finance and Development)

  • Jacques Le Cacheux

    (Observatoire français des conjonctures économiques)

Abstract

La convergence est-elle nécessaire à la création d’une zone monétaire ? Le traité de Maastricht a répondu par l’affirmative en faisant d’un certain nombre de critères formels portant sur le niveau des dettes publiques, des déficits, des taux d’intérêt à long terme et des rythmes d’inflation, des conditions préalables à la formation d’un noyau Euro, ainsi qu’à l’admission ultérieure de nouveaux membres. Il y aurait ainsi une « zone d’acceptabilité » vers laquelle la convergence serait indispensable avant de pouvoir procéder plus avant.

Suggested Citation

  • Marc Flandreau & Jacques Le Cacheux, 1996. "La convergence est-elle nécessaire à la création d'une zone monétaire ? Réflexions sur l'étalon or 1880-1914," Sciences Po publications info:hdl:2441/2502, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/2502
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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. Tamim Bayoumi, 1990. "Saving-Investment Correlations: Immobile Capital, Government Policy, or Endogenous Behavior?," IMF Staff Papers, Palgrave Macmillan, vol. 37(2), pages 360-387, June.
    3. Ritschl, Albrecht, 1996. "Sustainability of High Public Debt: What the Historical Record Shows," CEPR Discussion Papers 1357, C.E.P.R. Discussion Papers.
    4. Neal, Larry, 1985. "Integration of International Capital Markets: Quantitative Evidence from the Eighteenth to Twentieth Centuries," The Journal of Economic History, Cambridge University Press, vol. 45(02), pages 219-226, June.
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    Cited by:

    1. Antoine Parent & Christophe Rault, 2005. "The Influences Affecting French Assets Abroad Prior 1914," Documents de recherche 05-14, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.

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