The impossible reform of Banque de France in the 1980s: Independence thwarted

L'impossible réforme de la Banque de France dans les années 1980: L'autonomie repoussée

Bertrand Blancheton
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Bertrand Blancheton: GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique

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Abstract: This article contextualises the various attempts at reforming the independence of the Banque de France in the 1980s. It analyses Anglo-Saxon theoretical debates regarding fiscal independence and their slow penetration in France, as well as the expansion of the Banque de France's legal and operational autonomy under the Mauroy and Fabius governments. The failure of three successive reform projects reveals just how attached French political and administrative leaders were to fiscal and monetary controls, and illustrates their high degree of scepticism regarding the ability of the Banque's independence to ensure price stability.

Keywords: Banque de France; Reforms; Independence; Globalisation; Disinflation; Réforme; Autonomie; Mondialisation; Désinflation (search for similar items in EconPapers)
Date: 2018
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Published in Vingtième siècle. Revue d'histoire, inPress, 138 (2), pp.79-92. ⟨10.3917/ving.138.0079⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03124862

DOI: 10.3917/ving.138.0079

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