The Development of Financial Economics in France between the Mid-1970s and the Early 1980s: Import or Rediscovery?

To date, little research has documented the international diffusion of financial economics. Financial economics was supposedly “introduced” in France 1970s. Some analysts have argued that it is an American author — Leonard J. Savage who allowed French authors to rediscover Louis Bachelier’s work, indicating “a prophet not without honor, save his own country.” The present article challenges this conventional narrative and studies for first time how disseminated between mid-1970s early 1980s. It shows that, when “imported” from United States 1970s, some pioneering contributions been taught almost a century. Based on result, explains why these ideas rarely referred works forerunners. also clarifies role economists process. All suggests “import” fact reintroduction.