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Comparaison des relances françaises de 1975 et 1981-1982

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  • Alain Fonteneau
  • Alain Gubian

Abstract

[fre] Cet article compare les deux expériences de politique de relance qu'a connues la France depuis dix ans. Des prestations sociales exceptionnelles, de grands projets publics et industriels, des aides aux entreprises limitées dans le temps caractérisent la relance du gouvernement Chirac en 1975, tandis que des créations massives d'emplois publics, de fortes augmentations des prestations sociales et du SMIC, des transferts durables aux entreprises nationalisées marquent la relance du gouvernement Mauroy en 1981-1982. Estimée par les coûts ex-ante des mesures l'ampleur de la relance de 1975 apparaît légèrement plus forte que celle de la gauche : 2,3 points du PIB de 1975, au lieu de 1,7 point du PIB de 1981. Mais alors que les nouvelles dépenses engagées en 1975 avaient un caractère ponctuel et conjoncturel, celles de 1981-1982, étant beaucoup plus structurelles, ne pouvaient qu'être difficilement remises en cause par la suite. Les politiques budgétaire et monétaire expansives mises en œuvre en 1975 dans de nombreux pays ont, en donnant un caractère procyclique à la relance de 1975, permis d'alléger alors la contrainte extérieure. En 1982 la politique économique de la France s'est au contraire heurtée à celle de ses partenaires. [eng] This article makes a comparison between the two experiments of fiscal reflation carried out in France over the past ten years. The reflation enforced by Mr. Chirac's Government in 1975 relied upon special social security benefits, high increases in private industrial and public investment, temporary subsidies and capital grants to industry. By contrast, in 1981-1982, Mr. Mauroy's Government placed the emphasis on creating jobs in the public sector, increasing social security benefits and the minimum wage, and directing current and capital grants towards nationalised industries. Measured by the first round cost of the fiscal policy, reflation looks a little stronger in 1975: 2.3% of GDP, comparing with 1.7% in 1981. As fiscal and monetary policies were expansive in most countries in 1975, constraints were levied on balance of payments and that reflation can be viewed as procyclical. Contrarywise, in 1982, the economic French policy differed from that of other OECD countries, so that it was hampered by renewed external constraints.

Suggested Citation

  • Alain Fonteneau & Alain Gubian, 1985. "Comparaison des relances françaises de 1975 et 1981-1982," Revue de l'OFCE, Programme National Persée, vol. 12(1), pages 123-156.
  • Handle: RePEc:prs:rvofce:ofce_0751-6614_1985_num_12_1_1033
    DOI: 10.3406/ofce.1985.1033
    Note: DOI:10.3406/ofce.1985.1033
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    References listed on IDEAS

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    1. Henri Sterdyniak & Christian Vasseur, 1985. "Encadrement du crédit et politique monétaire," Revue de l'OFCE, Programme National Persée, vol. 11(1), pages 105-136.
    2. Christian de Boissieu & Alain Gubian, 1984. "Les indicateurs de la politique budgétaire et fiscale. Application au cas français," Revue de l'OFCE, Programme National Persée, vol. 9(1), pages 81-124.
    3. Patrick Artus & Pierre-Alain Muet & Agnès Picard & Claude Peyroux, 1982. "Politique conjoncturelle et investissement dans les années 70," Revue de l'OFCE, Programme National Persée, vol. 1(1), pages 61-90.
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