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Les pays du Sud face au défi d'un espace financier euro-méditerranéen

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  • Jean-Pierre Allegret

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

  • Bernard Courbis

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

Abstract

L'objet du texte est de voir en quoi le choc du passage à l'Union Economique et Monétaire pourrait créer un relais entre les systèmes nationaux du sud de la Méditerranée et le processus de mondialisation financière. Dans la première partie, la dimension structurelle de l'espace financier euro-méditerranéen est identifié. Nous montrons que les conditions d'insertion internationale des pays du Maghreb ne leur permettent ni une stratégie d'intégration régionale, ni une stratégie de mondialisation. De l'articulation des balances des paiements entre l'Europe et le Sud de la Méditerranée est ensuite déduite la possibilité de faire émerger un système financier euro-méditerranén fondé sur le transfert des excédents courants du Nord au Sud. Dans la seconde partie, est approfondie la question de la formation d'un cet espace euro-méditerranéen en considérant son impact sur les systèmes financiers du Sud. Nous rappelons en quoi la création de l'euro va induire la formation d'un espace financier européen en insistant sur le fait que, compte tenu de la structure des paiements courants de l'Union européenne, l'euro sera une monnaie d'endettement. Après avoir souligné les conditions de l'ancrage à l'euro des monnaies du Maroc et de la Tunisie, nous analysons les principales mutations des systèmes financiers-ainsi que leurs limites-dans les deux pays. Abstract Mediterranean Economies coping the Challenge of an Euromediterranean Financial System. The creation of the EMU will induce important consequences in the region. The purpose of this paper is to show how EMU could create a breach between Mediterranean financial systems and the financial globalisation process. In the first part, we identifiy the structural dimension of the euromediterranean financial system. The international insertion of the Maghrebian economies does not permit neither a regional strategy nor the worldwide strategy. Despite these difficulties, the articulation of balance of payments between Euro and South mediterranean countries can lead to the emergence of an Euromediterranean financial system.

Suggested Citation

  • Jean-Pierre Allegret & Bernard Courbis, 1999. "Les pays du Sud face au défi d'un espace financier euro-méditerranéen," Post-Print hal-01660197, HAL.
    • Handle: RePEc:hal:journl:hal-01660197
    Note: View the original document on HAL open archive server: https://hal.science/hal-01660197
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