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The French Paradox: A Financial Crisis During the Golden Age of the 1960s

Business History, 56.3, 2014, pp. 391-413

29 Pages Posted: 24 Nov 2013 Last revised: 24 May 2014

Bertrand Blancheton

University of Bordeaux - Montesquieu University - Bordeaux IV

Hubert Bonin

Institut d'Etudes Politiques de Bordeaux

David Le Bris

Toulouse Business School

Date Written: November 24, 2013

Abstract

The French stock market crisis of 1961-1967 was the biggest of the twentieth century after that of the 1930s. By using the new stock index (historical CAC 40), we have been able to get a fair idea of its amplitude and detail its chronology. We consider the possibility that the crisis of the 1960s was more of a market correction after the bull run of the 1950s. The fall of the stock prices is an adjustment to the abrupt halt of the growth of dividends. Then, we investigate the potential impacts of internal political choices and of the structural characteristics of the French stock market during this period.

Keywords: Stock market, 1960s, France, stock market crisis, growth, financial structure, stock return and economic growth.

Suggested Citation

Blancheton, Bertrand and Bonin, Hubert and Le Bris, David, The French Paradox: A Financial Crisis During the Golden Age of the 1960s (November 24, 2013). Business History, 56.3, 2014, pp. 391-413. Available at SSRN: https://ssrn.com/abstract=2359050 or http://dx.doi.org/10.2139/ssrn.2359050

Bertrand Blancheton

University of Bordeaux - Montesquieu University - Bordeaux IV ( email )

33608 Pessac Cedex
France

Hubert Bonin

Institut d'Etudes Politiques de Bordeaux ( email )

33607 Pessac-Cedex
France

David Le Bris (Contact Author)

Toulouse Business School ( email )

20, bd Lascrosses
Toulouse, 31068
France

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