Boyer, Marcel
(2013)
Growing out of Crises and Recessions: From Regulating Large Financial Institutions To Redefining Government Responsibilities.
TSE Working Paper, n. 13-398, Toulouse

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Abstract
I characterize and discuss in this paper the challenges and pitfalls we must face to grow out for good of the recent and future financial crises and economic recessions. I propose a brief history of the last crisis and insist on the loss of confidence within the banking and financial sector, which propagated later to the real sector. I discuss ways to rebuild confidence and move out of a stable bad economic equilibrium, due in part to inefficiently designed bonus systems. Considering data on gross job creation and loss in the private sector, I challenge the sorcerer’s apprentices plan for reforming capitalism and I recall the role of creative destruction. I show that government deficits and economic growth are not good friends and I offer a reference to the Canadian experience of the two decades 1985-2005. Finally, I discuss fiscal and regulatory reforms and propose redesigned roles for governmental and competitive sectors in generating a more prosperous economy.
Item Type: | Monograph (Working Paper) |
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Language: | English |
Date: | April 2013 |
Place of Publication: | Toulouse |
Uncontrolled Keywords: | Financial crisis, Crise financière, confidence, confiance, creative destruction, destruction créatrice, fiscal reform, réforme fiscale, prudential regulation, réglementation prudentielle, competitive social-democracy, social-démocratie concurrentielle |
Subjects: | B- ECONOMIE ET FINANCE |
Divisions: | TSE-R (Toulouse) |
Institution: | Université Toulouse 1 Capitole |
Site: | UT1 |
Date Deposited: | 09 Jul 2014 17:35 |
Last Modified: | 02 Apr 2021 15:48 |
OAI Identifier: | oai:tse-fr.eu:27178 |
URI: | https://publications.ut-capitole.fr/id/eprint/15613 |
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