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The French paradox: A financial crisis during the golden age of the 1960s

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  • Bertrand Blancheton
  • Hubert Bonin
  • David Le Bris

Abstract

The French stock market crisis of 1961-67 was the biggest of the twentieth century after that of the 1930s. Using the new stock index (historical CAC 40), it is possible to get a fair idea of its amplitude and detail its chronology. The possibility is considered that the crisis of the 1960s was more of a market correction after the bull run of the 1950s. The fall of the stock prices is an adjustment to the abrupt halt of the growth of dividends, the potential impacts of internal political choices and of the structural characteristics of the French stock market during this period are also investigated.

Suggested Citation

  • Bertrand Blancheton & Hubert Bonin & David Le Bris, 2014. "The French paradox: A financial crisis during the golden age of the 1960s," Business History, Taylor & Francis Journals, vol. 56(3), pages 391-413, April.
    • Handle: RePEc:taf:bushst:v:56:y:2014:i:3:p:391-413
    DOI: 10.1080/00076791.2013.800967
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    Cited by:

    1. 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).
    2. Òscar Jordà & Katharina Knoll & Dmitry Kuvshinov & Moritz Schularick & Alan M Taylor, 2019. "The Rate of Return on Everything, 1870–2015," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(3), pages 1225-1298.
    3. Bertrand BLANCHETON, 2013. "L’autonomie de la Banque de France au XXe siècle," Cahiers du GREThA (2007-2019) 2013-21, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    4. 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).

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