مجلة مينا للدراسات الإقتصادية
Volume 9, Numéro 1, Pages 7-26
2026-05-25
Fiscal Policy In An Era Of Structural Transformations: What Role For Public Finance In Accelerating Productive And Green Transitions? A France-germany Comparative Analysis (2010-2025)
Authors : Lenba Noureddine . Dafflon Bernard .
Abstract
Abstract Advanced economies are confronting a profound redefinition of fiscal policy in the post-2020 era, driven by persistently low growth, climate imperatives, and rising geopolitical constraints. This article argues that these pressures generate a fiscal trilemma between short-term macroeconomic stabilization, long-term debt sustainability, and the financing of deep structural transformations. Moving beyond the traditional demand-management role of fiscal policy, the paper examines how public finance can actively support supply-side transitions toward green and strategic investment. Through a comparative analysis of France and Germany between 2010 and 2025, the study explores how distinct institutional frameworks shape the design and effectiveness of transformative fiscal strategies under common European constraints. The findings highlight the decisive role of institutional coherence, fiscal governance, and investment targeting in enabling public budgets to accelerate productive and ecological transitions in advanced economies.
Keywords
Fiscal trilemma ; Green and productive investment ; Institutional models of capitalism ; European fiscal governance ; France–Germany comparative analysis.
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