| Titre | L'évolution des mouvements de capitaux à court terme entre la France et l'extérieur de 1967 à 1978 | |
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| Auteur | Jean Mathis | |
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Revue | Economie et prévision |
| Numéro | no 47, 1981/2 | |
| Page | 27-58 | |
| Résumé anglais |
The evolution of short-term capital movements between France and foreign countries (1967-1978),
by Jean Mathis.
The purpose of the article is to clarify the contents of short-term financial flows between France and foreign countries and to describe their evolution between 1967 and 1978 as well as the reasons therefor.
The first part, of a methodological nature, emphasizes the key role of importers and exporters and explanes those behaviours which lead to such movements. A classification of the latter in three categories is needed for the analysis commercial credits are primarily a function of exports and imports whereas the capital movements of the banking sector as well as leads and lags fundamentally depend on foreign exchange expectations, but they are used under different circumstances.
The former are used when foreign exchange control allows. Leads and lags seem to be preferred when cash available to entreprises is sufficient to anticipate a payment or to delay the collection of a debt.
The second part of the article studies the evolution of the banking sector capital for which stock data are available.
The article aims at assessing the role of the various factors and concludes in particular that foreign exchange control is efficient when it is sufficiently strict.
An appendix sums up the major steps taken to regulate foreign exchange between 1967 and 1978. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1981_num_47_2_3131 |
