France: Selected Issues


Book Description

Selected Issues




France and the Breakdown of the Bretton Woods International Monetary System


Book Description

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.




Debt and Entanglements Between the Wars


Book Description

World War I created a set of forces that affected the political arrangements and economies of all the countries involved. This period in global economic history between World War I and II offers rich material for studying international monetary and sovereign debt policies. Debt and Entanglements between the Wars focuses on the experiences of the United States, United Kingdom, four countries in the British Commonwealth (Australia, New Zealand, Canada, Newfoundland), France, Italy, Germany, and Japan, offering unique insights into how political and economic interests influenced alliances, defaults, and the unwinding of debts. The narratives presented show how the absence of effective international collaboration and resolution mechanisms inflicted damage on the global economy, with disastrous consequences.




France


Book Description

This technical note on select issues examines different aspects of supervision and oversight in the French financial system. This chapter focuses on the regulatory requirements and supervisory practices that are most relevant to financial stability. In response to Single Supervisory Mechanism initiatives, the French Prudential Supervision and Resolution Authority (ACPR) has sharpened its focus on governance issues, although business model and profitability risk remains the main challenge for the Less Significant Institutions (LSI) sector. The SSM’s commitment to consistent high supervisory standards has shaped the ACPR’s supervisory approach to LSIs in other important ways. Business model and profitability risk remains the main challenge for the LSI sector in France. As noted, earnings have been under pressure due to the persistent low interest rate environment and stiff competition within the banking sector. Similarly, the ACPR’s assessment is that liquidity risk does not pose significant issues for the LSI sector in France.




France


Book Description

This 2013 Article IV Consultation highlights that in a context of weakening economic conditions in Europe and sizeable fiscal consolidation and domestic policy uncertainty, the French economy flat lined in 2012. However, recent improvements in economic indicators support the expectation of a gradual recovery in the second half of 2013. Credit conditions remain supportive, and private demand is unencumbered by balance sheet repair issues and thus more apt to respond favorably to an improvement in confidence. The economy is projected to contract by 0.2 percent in 2013 and to grow by 0.8 percent in 2014.




Structural Reforms and Macroeconomic Performance - Initial Considerations for the Fund


Book Description

Structural policies have become a prominent feature of today’s macroeconomic policy discussion. For many countries, lackluster economic growth and high unemployment cloud the outlook. With fewer traditional policy options, policymakers are increasingly focused on the complementary role of structural policies in promoting more durable job-rich growth. In particular, the G20 has emphasized the essential role of structural reforms in ensuring strong, sustainable and balanced growth. Against this backdrop, the 2014 Triennial Surveillance Review (TSR) called for further work to enhance the Fund’s ability to selectively provide more expert analysis and advice on structural issues, particularly where there is broad interest among member countries. The purpose of this paper is to engage the Board on staff’s post-TSR work toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues.




Political Representation in France


Book Description

There can scarcely be a greater tribute to the vitality of the Fifth Republic's democracy than this monumental work. A searching analysis of how the will of the voters is translated into authoritative political decision making, this book not only uncovers political truths about contemporary France but also provides a model for the study of other popular forms of government. The authors set out to find an answer to the perplexing question of how representative government operates in France in the seemingly unstable context of multiparties. By interviewing voters as well as legislators in 1967 and in 1968 after the great upheaval, and by monitoring policies of the National Assembly from 1967 to 1973, the authors test relationships between public opinion and decision making. They are able to sort out the abiding political cues that orient the French voter, to establish the normal electoral processes, to gauge the nature of mass perceptions of the political options available to voters, and to interpret the strikes, riots, and demonstrations of 1968 as a channel of communication parallel to the electoral process itself. Lucid in style, methodologically sophisticated, and often comparative in approach, Political Representation in France is a seminal work for political scientists, sociologists, and historians.




Japan: Selected Issues


Book Description

Japan: Selected Issues







Staff Paper


Book Description