The new political economy of Dirigisme: French macroeconomic policy, unrepentant sinning and the stability and growth pact
Clift, Ben. (2006) The new political economy of Dirigisme: French macroeconomic policy, unrepentant sinning and the stability and growth pact. British Journal of Politics and International Relations, Vol.8 (No.3). pp. 388-409. ISSN 1369-1481
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Official URL: http://dx.doi.org/10.1111/j.1467-856X.2006.00235.x
This article traces the enduring influence of the dirigiste traditions on contemporary French macroeconomic policy-making, arguing that French policy both within and towards the Stability and Growth Pact (SGP) is consistent with long-standing French dirigiste preferences and policy traditions. Specifically it explores how, within the SGP, French governments have created and defended significant fiscal policy space, and how the scope for discretionary policy-making has in fact been enhanced by the credibility accrued through European rule-based governance. Furthermore, it analyses how, in their policies towards the SGP, French governments have successfully influenced the reshaping of the fiscal policy architecture, introducing a more dirigiste interventionism in the interpretation and implementation of the SGP, loosening constraints in accordance with dirigiste preferences. French policy-makers have thus played a 'long-run game' with European economic governance—initially accepting ordo-liberal orthodoxy, only to subsequently 'move the goalposts' in a more dirigiste direction.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions
D History General and Old World > DC France
|Divisions:||Faculty of Social Sciences > Politics and International Studies|
|Library of Congress Subject Headings (LCSH):||Economics -- Political aspects -- France., Macroeconomics., European Union countries -- Economic policy -- 20th century., France -- Economic policy -- 20th century.|
|Journal or Publication Title:||British Journal of Politics and International Relations|
|Publisher:||Wiley-Blackwell Publishing Ltd.|
|Official Date:||August 2006|
|Page Range:||pp. 388-409|
|Access rights to Published version:||Open Access|
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