The role of banks and the State in the shaping of the French fund industry

Granier, Caroline; Bédu, Nicolas

Type de document :

Article dans une revue scientifique: Article original

DOI :

10.1080/09692290.2019.1596146

URL permanente :

http://hdl.handle.net/20.500.12210/117722

Titre :

The role of banks and the State in the shaping of the French fund industry

Auteur(s) :

Granier, Caroline [Auteur]
Bédu, Nicolas [Auteur]
Lille économie management - UMR 9221 [LEM]
Université d'Artois [UA]

Titre de la revue :

Review of International Political Economy

Pagination :

573-603

Éditeur :

Taylor & Francis (Routledge)

Date de publication :

2019-07

ISSN :

0969-2290

Discipline(s) HAL :

Sciences de l'Homme et Société/Economies et finances

Résumé en anglais : [en]

The article deals with the issue of the French financial system design based on a historical analysis of the development of the fund management industry. It recounts how the main banks have become leaders in the global ...
Lire la suite >The article deals with the issue of the French financial system design based on a historical analysis of the development of the fund management industry. It recounts how the main banks have become leaders in the global asset management industry. This success relies on a long-term institutional evolution towards a hybrid model and the ongoing close relationships between banks and the State since the end of World War II. The establishment of a friendly institutional framework for the bank intermediation expansion was rooted in the seizure of power by reformist civil servants in the late 1950s and the early 1960s, who would later become heads at the Treasury and the main banks. We also argue that the Stateâ€™s ability to develop new forms of interventions, especially during financial liberalization and European construction, has been crucial in the development of a competitive fund industry. Finally, we show that the Stateâ€™s and banksâ€™ interests have driven the hybridization process of the fund sector and that the fund sector serves primarily the Stateâ€™s interests and the funding needs of the financial sector at the expense of the real economy.Lire moins >

Langue :

Anglais

Comité de lecture :

Oui

Audience :

Internationale

Vulgarisation :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

Date de dépôt :

2024-10-10T02:00:49Z

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