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L'autonomie de la Banque de France de la Grande Guerre à la loi du 4 août 1993

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  • Bertrand Blancheton

Abstract

This paper analyses Banque de France?s independence during the 20th century. The contribution highlights a tradition of government intervention to drive monetary policy in order to finance government spending. During the 1980s, it was particularly difficult to reform the Banque de France Act implemented in January 1973. Only a hard foreign constraint (international capital mobility and European integration) push to adopt a new law in 1993 (August 4) with an important degree of independence.

Suggested Citation

  • Bertrand Blancheton, 2014. "L'autonomie de la Banque de France de la Grande Guerre à la loi du 4 août 1993," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 157-178.
    • Handle: RePEc:cai:refaef:ecofi_113_0157
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    Cited by:

    1. Blancheton, Bertrand, 2016. "Central bank independence in a historical perspective. Myth, lessons and a new model," Economic Modelling, Elsevier, vol. 52(PA), pages 101-107.
    2. Anne-Marie Rieu-Foucault, 2018. "Les interventions de crise de la FED et de la BCE diffèrent-elles ?," Working Papers hal-04141702, HAL.
    3. BLANCHETON Bertrand, 2015. "The Act of 1973 on Banque de France’s independence: the myth of the end of advances," Cahiers du GREThA (2007-2019) 2015-03, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    4. BLANCHETON Bertrand, 2015. "Towards a tacit low-degree independence central banking model ?," Cahiers du GREThA (2007-2019) 2015-17, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).

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