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French Public Finances Against Globalization. Resistance, Transformation, Reform (In French)

Author

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  • Bertrand BLANCHETON (CMHE, IFReDE-GRES)

Abstract

This contribution is highlighted the quite striking paradox between the dominant discourse over the last twenty years or so, calling on the State to reduce its role, and the stability or even inertia of the major macroeconomic aggregates (public spending to GDP, tax burden), the permanent budget deficits and the increase in public debt. Globalisation has not neutralised French budget policy and has not put the squeeze on the French fiscal system. The weak empirical foundation of the pro-market macroeconomic arguments (risk of seigniorage, crowding-out effects, Barro-Ricardo equivalence…) and the efficiency of the automatic stabilisers in particular, have been highlighted as contributing to explain this situation. Finally, several salient points have been shown concerning evolutions in the structure of government revenues, one consequence of which is the decreasingly redistributive character of the French tax system.

Suggested Citation

  • Bertrand BLANCHETON (CMHE, IFReDE-GRES), 2004. "French Public Finances Against Globalization. Resistance, Transformation, Reform (In French)," Cahiers du GRES (2002-2009) 2004-13, Groupement de Recherches Economiques et Sociales.
    • Handle: RePEc:grs:wpegrs:2004-13
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    File URL: http://cahiersdugres.u-bordeaux4.fr/2004/2004-13.pdf
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    More about this item

    Keywords

    Globalization; public debt; budgetary deficit; fiscal system;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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