Investment and the rate of profit in a financial context: the French case

被引：19

作者：

Clevenot, Mickael ^{[1
]}

Guy, Yann ^{[2
]}

Mazier, Jacques ^{[1
]}

机构：

[1] Univ Paris 13, CNRS, CEPN, Villetaneuse, France

[2] Univ Paris 07, Paris 7, France

来源：

INTERNATIONAL REVIEW OF APPLIED ECONOMICS | 2010年 / 24卷 / 06期

关键词：

finance; investment; profit rate; growth regime;

D O I：

10.1080/02692170903426112

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The growth regime prevailing in France since the middle of the 1980s allowed for a recovery of profitability, yet without durable resumption of growth or accumulation of fixed capital. The financialization of this growth regime shows on both the asset and liability sides of the balance sheets. Following a post-Keynesian framework, we analyse and test the main determinants of real investment and financial capital accumulation for non-financial companies in France, based on data from the flow-of-funds accounts. This analysis points to an arbitrage, prevailing between real and financial accumulation, as a key reason explaining the insufficient recovery of investment.

引用

页码：693 / 714

页数：22

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