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La finance mondiale discréditée

Author

Listed:
  • Mathieu Plane

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Christophe Blot

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Sabine Le Bayon

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

The crisis that began in summer 2007, after the reversal of the housing market in the United States, had a negative impact on the activity of international banks in the second half of 2007 and will also influence their results in 2008. Confidence has not been restored as doubts about banks' solvency remain. The crisis has induced a rise in the financing conditions for companies and households. For the former, no deceleration of credit has been noticed yet. For the latter, there had already been a deceleration of credit due to the tightening of monetary policies in the years preceding the crisis. A less dynamic consumption may be observed, through wealth effects, in France, in Spain, in the United Kingdom and in the United States, due to the ongoing adjustment in housing markets.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Mathieu Plane & Christophe Blot & Sabine Le Bayon, 2008. "La finance mondiale discréditée," SciencePo Working papers Main hal-03416554, HAL.
    • Handle: RePEc:hal:spmain:hal-03416554
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03416554
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    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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