L'économie française pendant la présidence du général de Gaulle

Abstract

The French Economy During the Presidency of General de Gaulle Jean-Marcel Jeanneney From 1949 to 1957, the growth of the French economy has been about as strong as that of the other western economies, but it has beer characterized by disequilibra which had led, in 1958, to great difficulties. From 1958 to 1969, economic growth was faster in France than in any other western economy, excepted for Germany where it was slightly stronger, and for Japan where it was almost double. Gross investment grew faster than everywhere else in Europe without however reaching the same share of GDP as that observed for our main competitors. The inflation rate on consumption prices remained high : on average 4,2 % a year. Real hourly wages grew at 3,6 % a year and total real wage bill at 6,3 % a year. From a cyclical point of view four subperiods ought to be distinguished. In 1958, France endured a severe recession ; from the beginning of 1959 till the beginning of 1964, it enjoyed a 8,1 % yearly GDP growth ; from the first quarter of 1964 to the first quarter of 1968, the growth rate decelerated to 5,4 % ; from June 1968 to April 1969, France had to adapt to the shock induced by the events of May 1968 but the growth rate from 1968. I to 1969. I was still 4,7 %. After general de Gaulle had left power at the end of April 1969, the economy still performed brillantly untill 1973, but in a more risky way.