Report
No reason to change a policy that works: The improvement in France's situation before the COVID crisis
The COVID crisis has led some economists and politicians to question the economic policy conducted in France since 2017 (reduction in corporate social contributions and in taxation of earnings, capital and capital income, labour market reforms, etc.). However, the results for the period from 2017 to the COVID crisis were nevertheless positive: improved cost competitiveness and the start of reindustrialisation, significant job creation and a recovery in corporate investment, a fall in the unemployment rate, particularly among the low-skilled, an increase in the proportion of permanent employment contracts in new contracts, a rise in the employment rate and the participation rate. The fall in labour costs and in the cost of capital and the greater labour market flexibility have apparently had a positive impact on the French economy. We must therefore be very careful before deciding that these policies are no longer the right ones because of the COVID crisis.
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
Other Reports from Natixis
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.