L'analyse en termes d'economie industrielle des mutations du secteur des intermediaires financiers francais
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Abstract EN:
The changes in the general economic environment of the eighties profoundly affected the evolution of the french sector of financial intermediaries during the same period. These financial developments have provoked renewed debates about the instruments of analysis, their scope and their limits. Theoritical analysis of monetary and banking economics, combined with industrial economics, reveals that what is at the heart of these developments, in fact, the financial firm theory. Such securization leads us to question desintermediation and here the scope economics which characterizes the financial firm enters the theoritical framework of the general view. The financial services market improves its contestability, but nevertheless its does not succed completely in making it disputable. Taking into account the various strategies of banking groups or banking corporations, we can say that there is less competition in the financial market than might be assumed.
Abstract FR:
Les transformations de l'environnement economique general depuis le debut des annees 80 ont profondement marque les mutations du secteur des intermediaires financiers francais au cours de la meme periode. Ces modifications financieres ont suscite des remises en question relatives aux instruments d'analyse devant permettre d'apprehender leurs portee et limite. Les analyses theoriques de l'economie monetaire et bancaire completees par celles de l'economie industrielle ont revele que finalement, c'est la question theorique de la firme financiere qui est au coeur des mutations du secteur des intermediaires financiers en france. La titralisation nous a amene a remettre en cause la desintermediation observee. En cela le cadre theorique de la general view confere a la firme financiere son caractere multiproduit. Le marche des services financiers ameliore sa contestabilite, mais ne le rend pas neanmoins parfaitement contestable. La prise en compte des strategies des groupes bancaires nous permet de dire que le marche des services financiers est moins concurrentiel qu'on ne peut l'observer.