When the state becomes a banker: Breaks and continuities in the control exercised by this new shareholder at the Libération

Cuando el Estado se convierte en banquero. Rupturas y continuidades en el control ejercido, durante la Libération, por este nuevo accionista

Isabelle Chambost () and Béatrice Touchelay ()
Additional contact information
Isabelle Chambost: LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM]
Béatrice Touchelay: IRHiS - Institut de Recherches Historiques du Septentrion (IRHiS) - UMR 8529 - Université de Lille - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: This article analyses the structures put in place by government at the Libération to manage its holdings in the four nationalized deposit banks. Pointing out the discrepancies between stated intentions, particularly government's capacity to manage productively, and actual achievements, this article highlights the difficulties encountered in implementing this control. These tensions were linked to the diversity of bankers' interests and were felt up to the very highest echelons of the state. They emerged as soon as the scales of analysis were compared: the macro scale of the law and its nationwide application and the micro scale of a bank (Société Générale) that had come under state control. To understand some of the reasons behind these reforms, we have placed them in their historical perspective, pointing out the continuities and breaks. It is shown that government as a new shareholder sends down its roots into the imperfections of the previous system, that of the "unobtrusive state", that lasted from the beginning of the twentieth century to the outbreak of the Second World War and then into a declared political intent to install a "state partner" from 1940 to 1945. The state settled into place, not without difficulty until the 1960s, alongside the banking industry.

Keywords: banques; nationalisation; État; politique gouvernementale; régulation (search for similar items in EconPapers)
Date: 2021-05-17
References: Add references at CitEc
Citations:

Published in Revue de la régulation. Capitalisme, institutions, pouvoirs, 2021, 30 | 1er semestre/spring 2021, ⟨10.4000/regulation.19539⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03359670

DOI: 10.4000/regulation.19539

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().