Investissement à long terme: enjeux pour la croissance, la stabilité monétaire et financière

Pierre Jaillet

Revue d'économie financière, 2012, vol. N° 108, issue 4, 169-188

Abstract: While risk aversion remains at very high levels in the throes of the crisis, the need for long-term investment has perhaps never been so urgent. Advanced economies, in particular, must resolve this dilemma in order to return to their pre-crisis growth path and revert to sustainable public debt trajectories. But long-term investors have become a rare species and there are a number of factors ? economic, regulatory and fiscal ? that are not particularly incentivising. These investors have also lost their marks as the hierarchy of risk seems to be less stable ; asset managers and other financial intermediaries only partially meet their requirements. Long-term investment is seen to be a positive factor for financial and monetary stability and this stability itself contributes to creating a favourable environment. Classification JEL: E44, G11.

JEL-codes: E44 G11 (search for similar items in EconPapers)
Date: 2012
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