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Article Dans Une Revue Journal of Post Keynesian Economics Année : 2022

The slowing of growth in France: an interpretation based on Thirlwall’s law

Résumé

In this paper, we evaluate the French balance-of-payments constrained growth rate and we compare it with the effective growth rate. Empirically, we show that France is experiencing, simultaneously to its European integration, a substantial increase in the income elasticity of demand for imports and a collapse in the growth rate of its exports. Within the balance-of-payments constrained growth approach, this twofold negative effect is a major obstacle to true economic recovery and full employment.
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Dates et versions

hal-02905749 , version 1 (28-03-2023)

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Sébastien Charles, Thomas Dallery, Jonathan Marie. The slowing of growth in France: an interpretation based on Thirlwall’s law. Journal of Post Keynesian Economics, 2022, 45 (1), pp.100-129. ⟨10.1080/01603477.2020.1794903⟩. ⟨hal-02905749⟩
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