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L’épargne réglementée, une géographie méconnue de la circulation de richesse en France

Abstract : The paper analyses the spatial circulation of wealth associated to regulated saving accounts in France (known as Livrets A). Transforming household’s savings into long-term loans mainly for the financing of social housing, the para-public Caisse des Dépôts achieves a banking intermediation that entails poorly known monetary transfers. The paper describes the direction, intensity and evolutions of this financial circulation of wealth. If the location of savings is both stable through time and spatially homogenous, the geography of loans has evolved towards more spatial concentration at the end of the 2000s. Two interrelated explanations are discussed. Firstly, banking intermediation has evolved, with the Caisse des Dépôts adapting its practices to support social housing operations in real estate markets with strong perceived needs. Secondly, actors involved in the local systems of social housing provision (central State, local governments and social housing operators) are shifting their investment strategies towards larger-scale urban areas and some markets with a tradition of social housing.
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Contributor : Ludovic Halbert <>
Submitted on : Wednesday, March 16, 2016 - 4:34:08 PM
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Pierre Bouché, Elisabeth Decoster, Ludovic Halbert. L’épargne réglementée, une géographie méconnue de la circulation de richesse en France. Géographie, Économie, Société, Lavoisier, 2015, 17, pp.225-249. ⟨10.3166/ges.17.225-249⟩. ⟨halshs-01289423⟩



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