Since 2012, the Banque de France has conducted a new survey on access to bank loans /credit for industrial and service sector SMEs and MTEs. Firms appear to have reduced their demand for bank financing although the supply has not contracted.

At the workshop organised by the Banque de France some of the most influential researchers in the field discussed recent analytical works on the causes and effects of oil price fluctuations.

The euro area monetary aggregate M3, driven by overnight deposits,rose by 3.3% in 2012. The French contribution to M3 stood at 2.4%,underpinned by the sharp increase in passbooks. rowth in lending to the non-financial private sector slowed down in both France and the euro area.

Using the NiGEM model, the authors show that a wage moderation in the “deficit” countries of the euro area –i.e. lowering the annual growth rate of wages by one percentage point over a five year horizon– would improve their current account balances by 0.2 to 0.3 percentage points of GDP....

This conference of the CompNet (Competitiveness Network) co-organised by the Banque de France and the European Central Bank on 20 and 21 September 2012, provided a forum for the presentation of innovative research into firm level competitiveness.

The international profits of the major French groups have substantially increased in recent years. Between 2008 and 2011, the proportion of profits generated by the foreign subsidiaries of France’s CAC 40 companies reached 60% of their aggregate net operating incomes, corresponding to a 10...

On 12 December 2012, the Banque de France organised a symposium on assisted microcredit. It was attended by 150 participants. This event addressed a number of different aspects of microcredit and its role in the prevention of overindebtedness and financial inclusion. The Governor announced the...

Inflows of foreign direct investment (FDI) in France are affected by economic fluctuations, resulting in large variations from one year to the next. Inward FDI flows from emerging countries are still minor. However, a new geographical breakdown shows that French groups account for a significant...

At end-2012, net assets held by French investment funds stood at a slightly higher level than at end-2008: France remained in second place for investment funds in the euro area.

Entities that have been restructured via LBOs generally appear to perform better and are more dynamic than the average: at constant investment rates, their development potential and cash-flow generation look higher.