THE RETURN OF THE STATE? FRENCH ECONOMIC POLICY UNDER NICOLAS SARKOZY

摘要: France would seem to be a prime candidate for vigorous state response the economic crisis. The country has long tradition of dirigiste or state-led development and its President, Nicolas Sarkozy been an outspoken critic laissez- faire capitalism proponent more robust regulation. Following 2008 financial meltdown, administration announced series statist initiatives, ranging from fiscal stimulus, industrial policy, Yet this paper will show that reality France's crisis fallen well short rhetoric. government committed few additional resources, displayed little inclination steer business strategies, balked at issuing regulations in absence pan-European coordination. This argues Sarkozy's neo-statist initiatives have largely checked by legacies shifts French policy quarter-century ago. In particular, break with model 1983 deprived authorities many institutions instruments associated development, while massive expansion social labor market programs eased movement away dirigisme left without capacity launch expensive new promotional policies. broader lesson is country's shaped long-term structural factors, not just short-term political calculations, even when neo-liberalism widely believed failed, must forged, simply presumed.