OECD economic surveys : France 1996-1997 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD economic surveys.

OECD Economic Surveys

Language:

English

Subjects (All):

Economic history.

France--Economic conditions.

France.

France--Economic policy.

Physical Description:

1 online resource (182 pages).

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1996]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and prospects -Significant slowdown in growth -Employment growth has stalled -Inflation remains moderate -A strong external balance -Medium-term growth also slowed -Short-term economic prospects II. Macroeconomic policies -Monetary policy -Fiscal policy III. Implementing the OECD Jobs Strategy -Introduction -Labour market and employment performance -Policy requirements -Recent policy actions -Assessment and scope for further action IV. Corporate governance of French enterprises -Introduction -Corporate governance and control structure -Corporate governance and economic performance -Reforms and reform proposals Bibliography Annexes -I. Supplementary information for Chapter III -II. Estimates of the structural rate of unemployment -III. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and prospects

Significant slowdown in growth

Figure 1. CONTRIBUTIONS TO GDP GROWTH

Table 1. Household appropriation account

Figure 2. CAR REGISTRATIONS AND DISPOSABLE INCOME

Figure 3. BUSINESS INVESTMENT AND ITS DETERMINANTS

Employment growth has stalled

Table 2. Employment and inflation developments

Inflation remains moderate

A strong external balance

Table 3. Balance of payments

Figure 4. MEASURES OF INTERNATIONAL COMPETITIVENESS

Medium-term trend growth also slowed

Short-term economic prospects

Table 4. Short-term projections

II. Macroeconomic policies

Monetary policy

Interest rate and exchange rate developments

Figure 5. INTEREST RATE DEVELOPMENTS

Figure 6. EXCHANGE RATES AND INTEREST RATE DIFFERENTIALS

Figure 7. MONETARY CONDITIONS AND THE TAYLOR RULE

Table 5. Real interest rates in international comparison

Money and credit developments

Figure 8. MONEY AND CREDIT

Part of the banking system remains in a difficult situation

Fiscal policy

The 1995 budget and amendments raise spending and revenues

Table 6. State budgets and outturns

Table 7. Financial balances by level of government

The 1996 budget continues fiscal consolidation

Social security reform targets health care spending

The 1997 budget caps nominal spending and starts direct tax reform

Table 8. Marginal tax rates and income brackets for direct household income taxes

The Maastricht deficit limit in reach

Figure 9. INDICATORS OF FISCAL STANCE

Beyond Maastricht: further public sector reforms are needed

Figure 10. PRIMARY GOVERNMENT EXPENDITURE: AN INTERNATIONAL COMPARISON

Table 9. Pay fixing in the public sector: an international comparison.

Table 9 (cont.). Pay fixing in the public sector: an international comparison

III. Implementing the OECD Jobs Strategy

Introduction

Figure 11. LABOUR MARKET INDICATORS

Figure 12. LABOUR FORCE AND EMPLOYMENT DEVELOPMENTS

Labour market and employment performance

Table 10. Unemployment characteristics

Policy requirements

Enhancing the ability to adjust and adapt

Box 1. The OECD Jobs Study Strategy: Synopsis of recommendations

The wage formation system and labour cost developments

Figure 13. AVERAGE AND MARGINAL TAX WEDGES

Table 11. Real minimum wage and median salary developments

Figure 14. REAL WAGES, PRODUCTIVITY AND LABOUR SHARES

Figure 15. REAL WAGES ADJUSTED FOR COMPOSITIONAL CHANGES

Figure 16. WAGE DISPERSION AND THE MINIMUM WAGE

Taxes and transfers

Table 12. Replacement rates

Increasing the flexibility of working time and employment

Active labour market policies

Table 13. Labour market programmes

Table 14. Labour cost for low income earners

Increasing the knowledge base, efficiency and innovative capacity

Upgrading skills and competences

Table 15. Population aged 25 to 64 years old by level of education

Table 16. Young people leaving the education system

Product market competition

Table 17. The price level in international comparison

Technology and innovation

Table 18. Research and development outlays

Recent policy actions

Assessment and scope for further action

Figure 17. ESTIMATE OF THE STRUCTURAL UNEMPLOYMENT RATE

IV. Corporate governance of French enterprises

Box 2. Corporate governance

Corporate governance and control structure

Ownership and monitoring of corporations

The ownership structure

Table 19. Ownership of common stock in selected OECD countries.

Table 20. Ownership concentration in non-financial enterprises

The monitoring structure

Box 3. A synopsis of the French corporate governance system

Table 21. European merger and acquisition activity by target country

From State governance to privatisation

Table 22. Privatisations in 1993-96

Figure 18. THE HEART OF THE CROSS-PARTICIPATION SYSTEM

Corporate governance and economic performance

Financial structure

Table 23. Financial structure of industrial companies

Figure 19. OWN FUNDS RATIO

Profitability

Table 24. Performance of major French enterprises

Investment

Table 25. Venture capital in France

Reforms and reform proposals

Table 26. A comparison of the Cadbury and Viénot Committee's conclusions

Notes

Bibliography

ANNEXES

Annex I. Supplementary information for Chapter III

Table A1. Labour force and employment developments

Table A2. Procedures for lay-offs for economic reasons

Table A2. Procedures for lay-offs for economic reasons (cont.)

Table A3. Contribution to training in enterprises

Annex II. Estimates of the structural rate of unemployment

Table A4. Correlation among labour market variables

Annex III. Calendar of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Selected background statistics

Table B. Gross domestic product and expenditure

Table C. The money supply and its counterparts

Table D. Balance of payments on a transactions basis

Table E. Foreign trade by commodity

Table F. Foreign trade by origin

Table G. Structure of output and performance indicators

Table G. Strucutre of output and performance indicators (cont'd)

Table G. Structure of output and performance indicators (con'td)

Table H. Labour market indicators

Table I. Financial markets

Table J. Public sector.

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

MAIN SALES OUTLETS OF OECD PUBLICATIONS / PRINCIPAUX POINTS DE VENTE DES PUBLICATIONS DE L'OCDE

BOXES

TABLES

Table 9. Pay fixing in the public sector: an international comparison

Table 9 (cont.). Pay fixing in the public sector: an international comparison

Table 19. Ownership of common stock in selected OECD countries

Table 20. Ownership concentration in non-financial enterprises

Table 25. Venture capital in France.

Table 26. A comparison of the Cadbury and Viénot Committee's conclusions

FIGURES

Figure 19. OWN FUNDS RATIO.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-14957-0

OCLC:

1226586672