FRANCE: CENTRALIZED ECONOMIC BUREAUCRACY

• Ministries of Finance (including Treasury) and Industry maintain near monopoly over industrial policy-making. Finance formulates and provides finance; Industry oversees implementation.



• Ministry of Finance controls monetary policy, regulates banking, manages public credit, and all development policy through public banks and credit agencies.



• Ministry of Industry is organized sectorally and is usually the main conduit of communication between the French state and business. The ministry also serves as a staffing and research arm of the Ministry of Finance.



• Top bureaucrats are recruited from the elite grandes écoles.