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The inconsistency of French regulation mode faced with the financialization of accumulation pattern

Author

Listed:
  • Mickaël Clévenot

    (CEPN - Centre d'Economie de l'Université Paris Nord (ancienne affiliation) - UP13 - Université Paris 13 - CNRS - Centre National de la Recherche Scientifique)

  • Yann Guy

    (GERME - Groupe d'Études sur la Régulation et les Mutations - Equipe d'accueil)

Abstract

The absence of specifically dedicated method to represent financialized capitalism constitutes a significant gap in contemporary macroeconomic modelling considering the impact of finance on the rules of wealth production and distribution. From both the lessons of Regulation theory in terms of accumulation pattern and regulation mode declined through the concepts of institutional hierarchy and complementarity, and the neo-Cambridgian modelling framework, one tries to establish the causes which prevail in the divergence of American and French economies in the adoption of finance-led capitalism.

Suggested Citation

  • Mickaël Clévenot & Yann Guy, 2007. "The inconsistency of French regulation mode faced with the financialization of accumulation pattern," CEPN Working Papers hal-00188614, HAL.
    • Handle: RePEc:hal:cepnwp:hal-00188614
    Note: View the original document on HAL open archive server: https://hal.science/hal-00188614
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    References listed on IDEAS

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    1. Lance Taylor, 2004. "Exchange rate indeterminacy in portfolio balance, Mundell--Fleming and uncovered interest rate parity models," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(2), pages 205-227, March.
    2. Mickaël Clevenot & Yann Guy & Jacques Mazier, 2010. "Investment and the rate of profit in a financial context: the French case," International Review of Applied Economics, Taylor & Francis Journals, vol. 24(6), pages 693-714.
    3. Saoussen Ben Gamra & Mickaël Clévenot, 2006. "Libéralisation financière et crises bancaires dans les pays émergents," CEPN Working Papers hal-00188615, HAL.
    4. Michel Aglietta & Régis Breton, 2001. "Financial systems, corporate control, and capital accumulation," Post-Print halshs-00256788, HAL.
    5. Andreas Lehnert, 2004. "Housing, consumption, and credit constraints," Finance and Economics Discussion Series 2004-63, Board of Governors of the Federal Reserve System (U.S.).
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