La France a-t-elle connu des paniques bancaires inefficientes ? (notice n° 832999)
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| control field | 20250123135714.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Lacoue-Labarthe, Dominique |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | La France a-t-elle connu des paniques bancaires inefficientes ? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2005.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 100 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Bien que les économistes et les historiens reconnaissent l’existence de ruées bancaires localisées en France dans les années 1930, ils considèrent généralement que ce phénomène n’a pas la même gravité que dans d’autres pays et que les fermetures de banques contribuent plutôt à la consolidation et à l’assainissement du système bancaire. Un réexamen de travaux historiques récents (H. Bonin, M. Lescure, en particulier) montre au contraire qu’en trois circonstances, toutes les composantes de véritables paniques généralisées et contagieuses sont réunies. Près de 40% des banques sont amenées à cesser leur activité. Si une seule grande banque, la BNC, fait faillite, les défaillances frappent un nombre important de banques bien capitalisées et solvables: les paniques sont donc inefficientes. Les sauvetages mis en œuvre par le Trésor, avec la participation timide de la Banque de France empêtrée dans ses conflits d’intérêts, sont inefficaces car ils s’adressent à des banques prétendument trop importantes pour faire faillite mais qui doivent être reprises. L’indulgence, en revanche, est refusée à plusieurs centaines d’autres banques moyennes qui jouent pourtant un rôle majeur dans l’organisation du marché du crédit et qui contribuent au refinancement en liquidité nécessaire aux banques grâce à leur maîtrise des reports en bourse. Leur disparition porte gravement atteinte au fonctionnement de l’intermédiation financière pour plusieurs décennies. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Did France experience inefficient banking panics? an exploration of the 1930’s crisis Economists and historians acknowledge several episodes of local banks runs in France during the early 1930’s. They consider generally that the consequences of this phenomenon were not as important as in other countries, and that bank closures rather improved safeness and soundness in the banking industry. It is argued here that reassessing recent historical studies (by H. Bonin, M. Lescure, and others) suggests, on the contrary, that three genuine, large-scale and contagious bank panics occurred. More than 40% of total banks were closed. Although only one of the largest banks failed, BNC, a number of well capitalized and solvent banks closed: panics proved therefore to be inefficient. The Treasury initiated bailouts, in association with a rather timid action of Banque de France (hindered by numerous conflicts of interests), but its forbearance policy addressed banks too important to fail, which eventually failed because they were insolvent. On the contrary, access to lifeboats was denied to several hundreds of smaller banks, which however played a major role in providing for liquidity in the credit market and refinanced banks through the securities lending operations in the Stock Exchange. Their liquidation was severely harmful to financial intermediation for decades. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | sauvetage bancaire |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | ruée bancaire |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | trop gros pour faire faillite |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | panique inefficiente |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | prêteur en dernier ressort |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | contagion |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | illiquidité |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | insolvabilité |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | faillite |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | inefficient panic |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | insolvency |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bailout |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | illiquidity |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | contagion |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | lender of last resort |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | too big to fail |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | forbearance policy |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bank run |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | prudential supervision |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | bankruptcy |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie politique | 115 | 5 | 2005-10-01 | p. 633-656 | 0373-2630 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-d-economie-politique-2005-5-page-633?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-d-economie-politique-2005-5-page-633?lang=fr&redirect-ssocas=7080</a> |
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