An Exchange Rate History of the United Kingdom
1945–1992
Part of Studies in Macroeconomic History
- Author: Alain Naef, University of California, Berkeley
- Date Published: September 2022
- availability: Available
- format: Hardback
- isbn: 9781108839990
Hardback
Other available formats:
Paperback, eBook
Looking for an inspection copy?
This title is not currently available on inspection
-
How did the Bank of England manage sterling crises? This book steps into the shoes of the Bank's foreign exchange dealers to show how foreign exchange intervention worked in practice. The author reviews the history of sterling over half a century, using new archives, data and unseen photographs. This book traces the sterling crises from the end of the War to Black Wednesday in 1992. The resulting analysis shows that a secondary reserve currency such as sterling plays an important role in the stability of the international system. The author goes on to explore the lessons the Bretton Woods system on managed exchange rates has for contemporary policy makers in the context of Brexit. This is a crucial reference for scholars in economics and history examining past and current prospects for the international financial system. This title is also available as Open Access on Cambridge Core. 'The open access publication of this book has been published with the support of the Swiss National Science Foundation' (here https://www.cambridge.org/core/books/an-exchange-rate-history-of-the-united-kingdom/68B7E57D9884394B815C76D48ACD3FB6).
Read more- Using new data, gives the reader a new perspective on how foreign exchange works in practice
- Brings a combination of qualitative and qualitative approaches together, giving the reader a rich and diverse account of the history of the pound
- Offers new intervention and exchange rate data for other researchers to use in their own studies
- Offers data for further questions on the role of sterling and the Bank of England
Reviews & endorsements
'Naef's financial history of the United Kingdom focuses on the management of the pound sterling exchange rate since World War II. He uses data on market operations from the Bank of England's archives to document the bank's efforts to defend and stabilize the rate during currency crises in 1949, 1967, and 1976.' Barry Eichengreen, Foreign Affairs
Customer reviews
Not yet reviewed
Be the first to review
Review was not posted due to profanity
×Product details
- Date Published: September 2022
- format: Hardback
- isbn: 9781108839990
- length: 200 pages
- dimensions: 235 x 158 x 21 mm
- weight: 0.54kg
- availability: Available
Table of Contents
Introduction
1. Sterling's postwar role and lessons from the 1947 convertibility crisis
2. The 1949 devaluation: readjusting the postwar parities
3. The reopening of the London foreign exchange market: Sterling's window on the world. 4. The bank on the market
5. The reopening of the London gold market in 1954: sealing the fate of sterling and the international system
6. 1958 convertibility and its consequences. 7. The gold pool
8. Cooperation and the fed swap network
9. The 1964–7 currency crisis
10. The 1967 devaluation and the fall of the gold pool
11. The consequences of the devaluation: ongoing crisis and window dressing at the bank of England
12. Britain, Nixon and the end of Bretton woods
13. Was the IMF crisis 'natural' or 'manmade'
14. Britain's last currency crisis
Conclusion
Data availability
Bibliography.
Sorry, this resource is locked
Please register or sign in to request access. If you are having problems accessing these resources please email [email protected]
Register Sign in» Proceed
You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.
Continue ×Are you sure you want to delete your account?
This cannot be undone.
Thank you for your feedback which will help us improve our service.
If you requested a response, we will make sure to get back to you shortly.
×