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R. Dans-cette-thèse, Ainsi, nous avons pu proposer des explicationsàexplicationsà certains paradoxes de la finance internationale : le paradoxe de l'allocation et le paradoxe du régime de change. Plus précisément, ces paradoxes font référence, pour le premier, ` a la relation " perverse " entre croissance et flux de capitaux ; pour ledeuxì eme, ` a l'absence de relation stable entre régimes de change et performanceséconomiquesperformanceséconomiques. Les deux premiers chapitres sont consacrés au paradoxe des flux de capitaux. Le premier tente d'expliquer comment croissance de la productivité globale des facteurs et sorties de capitaux peuventêtrepeuventêtre associés demanì ere endogène. Il peut ainsi mettre en relation les récents déséquilibres mondiaux avec la croissanceparalì ele des paysémergents paysémergents. Ledeuxì eme, quantàquantà lui, applique une démarche comptable, o` u ce ne sont pas tant les liens de causalité entre flux et croissance qui sontétudiéssontétudiés que leur cohérence dans la dimension inter-pays. Dans les deux cas, la présence de risque non assurable au niveau des firmes, qu'il s'agisse de risque de production ou de risque de liquidité, explique la relation positive entre croissance et sorties de capitaux. Enfin, letroisì eme chapitre s'intéresse au choix de régime de change etàetà son impact sur la croissance, est le risque de liquidité et l'accès imparfait au crédit qui justifie l'idée que la volatilité peut avoir un impact sur la croissance. Plusparticulì erement, ce chapitré etablit au niveau théorique et empirique que la dollarisation de la dette conditionne cet impact. Il permet d'expliquer ainsi la faible robustesse des précédentesprécédentesétudes empiriques sur la question

F. Croissance and . Internationale, Risque de production, Risque de liquidité, Choix de portefeuille, Choix technologiques, ´ Epargne de précaution, Régimes de change

. Intitulé, EconomiX -UMR 7166 CNRS Université Paris X -Nanterre Bâtiments K et G 200