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Date	Type	Description
61 16/06/2021	Article	REF 142 The Future of Financial Intermediation What Future for Life Insurance in France? Free access Anne-Lise BONTEMPS-CHANEL Laurent CLERC Mohammed OURIEMCHI After a decade in which life insurance fundraising had weathered the continued decline in interest rates, their entry into negative territory in 2019 exposed some limitations of… JEL classification : G22 E43
62 16/06/2021	Article	REF 142 The Future of Financial Intermediation The Inexorable Drift of the Financial System Free access Vivien LEVY-GARBOUA Gérard MAAREK The monetary and financial system of developed countries is in constant move, to accommodate changes in the technological, political and social conditions. After a period of… JEL classification : G28 G23 G21 G01 E58 E52 E51 E50 B26
63 16/06/2021	Article	REF 142 The Future of Financial Intermediation Money and Credit: a Never Ending Debate Free access François MEUNIER How far should we go in separating the business of lending from the business of deposit and money management within the banking system? This is a debate that is taking on new… JEL classification : G28 G23 G21 G01 E51 E50 B26
64 16/06/2021	Article	REF 142 The Future of Financial Intermediation Development Banks: a Key Role in the Ecologic Transition and in the Pandemic Crisis Free access Étienne ESPAGNE Development banks have shown themselves to be key players in the face of the pandemic crisis. They were also among the first financial actors to transform themselves in recent… JEL classification : Q56 O19 N20 G21 F43
65 16/06/2021	Article	REF 142 The Future of Financial Intermediation Insurance Faced to Expanding Risks Free access Philippe TRAINAR The world is changing, the universe of risks is expanding, and the conditions for doing insurance business are becoming more complex. Insurance, which largely reflects the… JEL classification : L22 L16 L14 H55 H44 H12 G41 G28 G22
66 28/04/2021	Article	REF 141 Debt in Emerging and Developing Countries Private Debt Dynamics in China: Risks and Challenges Free access Camille MACAIRE Since 2008, China has experienced an unprecedented phase of private debt expansion. Faced with incurring risks, the authorities have implemented reforms aimed at raising the… JEL classification : E52 G21 G51
67 24/11/2020	Article	REF 138 Climate Finance Assessing Vulnerabilities and Raising Awareness Among Financial Players About the Risk of Climate Change: the Role of Stress Tests Free access Laurent CLERC Stress tests have been, since the Great Financial Crisis of 2008, one of the tools of choice for supervisors to assess the risks and vulnerabilities to which financial… JEL classification : G21 G28 H23 Q48 Q54
68 24/11/2020	Article	REF 138 Climate Finance The Drivers of Islamic Banks Ethical Performance Free access Hassan OBEID Josse ROUSSEL Nadia SLIMENE The purpose of this study is to analyze the drivers of the Islamic banking ethical performance as measured by its compliance with the "Shariah" principles. Through a questionnaire… JEL classification : G21 P40
69 24/11/2020	Article	REF 138 Climate Finance Institutional Investors Votes on Corporate Externalities: the Case of Two Emblematic Investors Free access Marie BRIÈRE Sébastien POUGET Loredana URECHE-RANGAU Do institutional investors engage with companies on corporate externalities such as greenhouse gas emissions? We study voting at shareholders meetings by two emblematic global… JEL classification : F21 G11 G23 Q54 Q56
70 27/09/2020	Article	REF 137 40 Years of Financial Liberalization The Evolution of Banking Business Models Free access Olivier de BANDT Sébastien FRAPPA The article analyses the evolution of banking business models in developed countries over the last 40 years and shows that after the rapid growth of banking activities induced by… JEL classification : F23 F30 G21 G28
71 27/09/2020	Article	REF 137 40 Years of Financial Liberalization The External Funding of Non Financial Companies Since the 1984 Financial Deregulation Free access Michel BOUTILLIER Pierre SICSIC On the eve of the 1980s, French companies were financed by significant debt through banks and numerous specialized, segmented and compartmentalized financial institutions. During… JEL classification : G21 G28 G30 G32 G38
72 27/09/2020	Article	REF 137 40 Years of Financial Liberalization The Conversion of France to Financial Liberalism Free access Michel CASTEL How did France switch to a policy of monetarist inspiration only two years after the election of President Mitterrand in 1981, elected on a left-wing program? Two main types of… JEL classification : E61 E63 G21 G23 G28
73 27/09/2020	Article	REF 137 40 Years of Financial Liberalization The Liberalization of Insurances Free access Pierre-Charles PRADIER Narratives of liberalization focus on the "commodification" of the Welfare State, but the phenomenon has mainly led to the resolution of market failures. Insurers were thus able… JEL classification : F30 G22 G28
74 27/09/2020	Article	REF 137 40 Years of Financial Liberalization Repeated Crises: from US Savings Banks to Subprime Mortgages Free access Dominique PLIHON Financial crises have multiplied since the beginning of the process of financial globalisation four decades ago. These successive crises have affected very diverse financial… JEL classification : F30 G01 G10 G18 G21 G28
75 27/09/2020	Article	REF 137 40 Years of Financial Liberalization Forty Years of Financial Liberalisation or the Unfortunate Americanization of a Capitalist Gentlemen' Club Free access Raphaël BOUSQUET Jean-Christophe DONNELLIER Thomas ERNOULT This article examines the main stages of the liberalisation of the financial sector in the United Kingdom (UK) over the past forty years. Perhaps counterintuitively, this period… JEL classification : F30 G28
76 27/09/2020	Article	REF 137 40 Years of Financial Liberalization Asset Management Industry: from Emergence to the Uprising of New Risks Free access Sébastien GALANTI Françoise LE QUÉRÉ In the early 1980s, various reports and analyses promoted the emergence of investment funds. The objective was to attract savings to the financial markets, in order to compete… JEL classification : G11 G23 G28
77 27/09/2020	Article	REF 137 40 Years of Financial Liberalization Risk Measurement and Regulatory Arbitrage in the Basel Odyssey Free access Adrian POP Oana TOADER Over time, the shaping of financial regulations and coordinated supervision of internationally active banks has appeared as a regulatory response to financial and economic shocks… JEL classification : G18 G28 M48
78 27/09/2020	Article	REF 137 40 Years of Financial Liberalization What Economic History Teaches US About Financial Regulation: the Example of the United States Free access Sarah GOLDMAN Esther JEFFERS The deregulation of the financial system that began in the United States in the late 1970s and then spread across the world profoundly transformed financial markets, financial… JEL classification : G01 G28
79 27/09/2020	Article	REF 137 40 Years of Financial Liberalization Modernization of the Policy for Issuing and Managing Public Debt between 1985 and 1990 Free access Jean-François PONS Public debt management was deeply reformed from 1985 under the impetus of Pierre Bérégovoy, Minister of the Economy and Finance from July 1984 to April 1986. The reforms were… JEL classification : G28 H62 H63
80 08/04/2020	Article	REF 136 Mediterranean Finance The Moroccan Universal Banks: a Successful Internationalization Free access Taha JAIDI This paper suggests studying the internationalization process of Moroccan banks from a different angle. Our analysis points out the deployment of the universal banking model whose… JEL classification : F23 G21 O16 O55