Article accepted in La Revue d’Economie Politique
The aim of this paper is to explain why there is insufficient long-term capital investment despite the abundant savings collected by a booming financial sector. Special attention is given to understanding the role of today’s accounting and prudential requirements, to grasping their limitations and to underscoring the need for reform to foster long-term capital spending in Europe. This paper shows that International Financial Reporting Standards (IFRS) can affect different financial intermediaries in different ways, and that current prudential rules are likely to prove even more detrimental to long-term investment financing.
This paper analyses the drivers of French transport CO2 emissions over the period 1960-2017. A decomposition analysis is used to evaluate the relative contribution of five key drivers of passenger and freight transports emissions: transport demand, modal shift, vehicle load factor, energy efficiency and carbon intensity of the energy.
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