IDEAS home Printed from https://ideas.repec.org/p/spo/wpmain/infohdl2441-3vq5c5dm4l9hna2661vel91h71.html
   My bibliography  Save this paper

Dette publique, depression et croissance en France, 1871 -1914

Author

Listed:
  • Jacques Le Cacheux

    (Observatoire français des conjonctures économiques)

Abstract

Entre 1871 et 1914, la dette publique française a constamment été supérieure à 60% du PIB; elle a même dépassé 115% du PIB au milieu des années 1880, mais avait été ramenée à un peu plus de 60% du PIB à la veille de la Première guerre mondiale.La période n’est pas sans similitudes avec les conditions économiques présentes. Notamment, pendant les deux premières décennies de cette période, l’économie française a connu une «Longuestagnation». L’endettement public élevé a-t-il pesé sur les performances économiques françaises ? Quel a été l’effet du grand programme d’investissement public dans lesinfrastructures de transport conçu par le ministre Freycinet? Et de la hausse des dépensespubliques d’éducation? Ces questions ont été très débattues à l’époque, et le sont encore;mais il est indéniable qu’à partir des années 1890la France, portée par une importantevague d’innovations, connaît une prospérité économique sans précédent : avec la Belle époque, le ratio d’endettement public se résorbe sans effort

Suggested Citation

  • Jacques Le Cacheux, 2015. "Dette publique, depression et croissance en France, 1871 -1914," Sciences Po publications 2015-09, Sciences Po.
    • Handle: RePEc:spo:wpmain:info:hdl:2441/3vq5c5dm4l9hna2661vel91h71
    as

    Download full text from publisher

    File URL: https://spire.sciencespo.fr/hdl:/2441/3vq5c5dm4l9hna2661vel91h71/resources/wp2015-09.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    2. Michel Aglietta & Jacques Le Cacheux, 2007. "De la première à la seconde globalisation," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 155-204.
    3. Thomas Herndon & Michael Ash & Robert Pollin, 2014. "Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(2), pages 257-279.
    4. Georges Gallais-Hamonno, 2008. "La création d'un marché obligataire moderne : les emprunts de la Ville de Paris au XIXème siècle," Post-Print halshs-00366608, HAL.
    5. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Chapter 1," MPRA Paper 17452, University Library of Munich, Germany.
    6. Georges Gallais-Hamonno, 2008. "Le marché financier français au XIXè siècle : aspects quantitatifs des acteurs & des instruments à la Bourse de Paris (vol. II)," Post-Print halshs-00276807, HAL.
    7. repec:hal:spmain:info:hdl:2441/2083 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:hal:spmain:info:hdl:2441/3vq5c5dm4l9hna2661vel91h71 is not listed on IDEAS
    2. Nicholas Oulton, 2013. "Medium and long run prospects for UK growth in the aftermath of the financial crisis," Discussion Papers 1307, Centre for Macroeconomics (CFM).
    3. Haralambie George Alin, 2015. "Public Debt In The Eu Countries," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 275-280, July.
    4. Beshenov, Sergey & Rozmainsky, Ivan, 2015. "Hyman Minsky's financial instability hypothesis and the Greek debt crisis," Russian Journal of Economics, Elsevier, vol. 1(4), pages 419-438.
    5. David Vines, 2015. "Cooperation between countries to ensure global economic growth: a role for the G20?," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 29(1), pages 1-24, May.
    6. Lorenzo Esposito & Giuseppe Mastromatteo, 2019. "Defaultnomics: Making Sense of the Barro-Ricardo Equivalence in a Financialized World," Economics Working Paper Archive wp_933, Levy Economics Institute.
    7. Simone Salotti & Carmine Trecroci, 2016. "The Impact of Government Debt, Expenditure and Taxes on Aggregate Investment and Productivity Growth," Economica, London School of Economics and Political Science, vol. 83(330), pages 356-384, April.
    8. Daniel Murphy & Eric Young, 2020. "Government Debt Limits and Stabilization Policy," Working Papers 20-23, Federal Reserve Bank of Cleveland.
    9. Allen Hyde, 2018. "“Left behind?” Financialization and Income Inequality Between the Affluent, Middle Class, and the Poor," LIS Working papers 745, LIS Cross-National Data Center in Luxembourg.
    10. Roberto Tamborini & Matteo Tomaselli, 2020. "When does public debt impair economic growth? A literature review in search of a theory," DEM Working Papers 2020/7, Department of Economics and Management.
    11. Dieppe, Alistair & Mourinho Félix, Ricardo & Marchiori, Luca & Grech, Owen & Albani, Maria & Lalouette, Laure & Kulikov, Dmitry & Papadopoulou, Niki & Sideris, Dimitris & Irac, Delphine & Gordo Mora, , 2015. "Public debt, population ageing and medium-term growth," Occasional Paper Series 165, European Central Bank.
    12. Jean-Louis Combes & Alexandru Minea & Pegdéwendé Nestor Sawadogo, 2019. "Assessing the effects of combating illicit financial flows on domestic tax revenue mobilization in developing countries," CERDI Working papers halshs-02019073, HAL.
    13. Jaume Ventura & Hans-Joachim Voth, 2015. "Debt into growth: How sovereign debt accelerated the first Industrial Revolution," Economics Working Papers 1483, Department of Economics and Business, Universitat Pompeu Fabra.
    14. Lamperti, Francesco & Bosetti, Valentina & Roventini, Andrea & Tavoni, Massimo & Treibich, Tania, 2021. "Three green financial policies to address climate risks," Journal of Financial Stability, Elsevier, vol. 54(C).
    15. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2023. "Populist Leaders and the Economy," American Economic Review, American Economic Association, vol. 113(12), pages 3249-3288, December.
    16. Enrico Perotti & Magdelena Rola-Janicka, 2019. "Funding Shocks and Credit Quality," Tinbergen Institute Discussion Papers 19-060/IV, Tinbergen Institute.
    17. Christoph Trebesch, 2019. "Resolving sovereign debt crises: the role of political risk," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 421-444.
    18. Pamfili Antipa & Vincent Bignon, 2018. "Whither Economic History? Between Narratives and Quantification," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 17-36.
    19. Röhrs, Sigrid & Winter, Christoph, 2017. "Reducing government debt in the presence of inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 1-20.
    20. Thanh C. Nguyen & Vítor Castro & Justine Wood, 2022. "Political environment and financial crises," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 417-438, January.
    21. Janice Boucher Breuer & John McDermott, 2019. "Debt And Depression," Contemporary Economic Policy, Western Economic Association International, vol. 37(4), pages 714-730, October.

    More about this item

    Keywords

    dette publique; france; histoire economique;
    All these keywords.

    JEL classification:

    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:spo:wpmain:info:hdl:2441/3vq5c5dm4l9hna2661vel91h71. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Spire @ Sciences Po Library (email available below). General contact details of provider: https://edirc.repec.org/data/ecspofr.html .

    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.