Get Economic Management and French Business: From de Gaulle to PDF

By M. Maclean

ISBN-10: 0230503993

ISBN-13: 9780230503991

ISBN-10: 0333761480

ISBN-13: 9780333761489

How is it that the modest velocity of switch which typified the French economic system a century in the past gave manner after 1945 to a brand new, revived capitalism and an effective fiscal functionality? Mairi Maclean argues that the hot French capitalism of the twenty first century is the made of an ideological fight within which the forces of modernization triumphed over the previous shield of French nationalism.

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Additional info for Economic Management and French Business: From de Gaulle to Chirac

Sample text

Persistence of family ownership by founding families in many large firms. Individual companies often form part of strategic groups united by cross-shareholdings. The group, often under the umbrella of a leading firm, is seen as a source of stability and security, defending against unwelcome takeovers. Traditionally a relatively high dependence on corporate debt in preference to equity. Equity financing and trading becoming more important following privatisation wave and stock-market reform. High level of managerial authority due to lack of an active market for corporate control.

Its main features may be outlined with reference to the conceptual framework described in Figure 1 in the Introduction to this book. This identifies three levels or dimensions for the classification of system attributes: organisational, systemic and ideological. Organisational attributes are those features of the system that are the most readily observed aspects of a governance regime and relate to the ways in which the system is managed under national law. Systemic attributes are the structural properties that bind the system together and determine the ways in which it is managed in practice.

23 The chapter begins by examining the experience of prudent fiscal management that characterised the late 1990s in the run-up to the launch of the single currency – an experience that seemingly revealed just how narrow are the straits that define the limits of government action in the new international economy. The margins of manoeuvre are likely to have been further reduced by the advent of the euro. To exchange the franc, symbol of national sovereignty par excellence, for the euro, simultaneously renouncing the right to control domestic monetary policy, including the setting of interest rates, has been a huge step.

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Economic Management and French Business: From de Gaulle to Chirac by M. Maclean

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