The process of bankarisation and financialisation in society: The case of France following the second world war

Kovács, György and Bartók, László (2026) The process of bankarisation and financialisation in society: The case of France following the second world war. ECONOMY AND FINANCE: ENGLISH-LANGUAGE EDITION OF GAZDASÁG ÉS PÉNZÜGY, 13 (2). pp. 147-179. ISSN 2415-9379

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Abstract

In the wake of the 2008 global financial crisis, the issue of the bankarisation andfinancialisation of society has come increasingly to the focus of attention that is,the extent to which groups within society have been integrated into the financialand banking system, and the risks this entails for them. This paper examines thefinancialisation and bankarisation of society primarily from an economic historyperspective, using the example of post-Second World War France. France waschosen because its banking system has developed in a relatively organic manner,and the relevant sources and data are readily available. Not to mention that thehistorical development of the French banking system itself is less well known inour country, compared to the Anglo-Saxon or German banking systems. However, in order to understand the processes between the banking system and society,we will first explain the concepts of financialisation and bankarisation, as well astheir processes and characteristics in relation to the economy as a whole. We willthen present the process of bankarisation and the associated (?) financialisation,which we will examine by analysing the asset and liability sides of the country’sbanking system. In our research, we seek primarily to answer whether the bankarisation of society is a prerequisite for financialisation, and what impact the socialenvironment itself has had on the relationship between banks and society.

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