THE DECLINE OF STERLING by Catherine R. Schenk ( 9781107612990 )

Item Details

Title:

THE DECLINE OF STERLING
MANAGING THE RETREAT OF AN INTERNATIONAL CURRENCY, 1945-1992

By:

Catherine R. Schenk

Format:

Paperback

List price:

£44.99

Our price:

£40.49

Discount:

10% off

You save:

£4.50

ISBN 10:

1107612993

ISBN 13:

9781107612990

Availability:

Usually dispatched within 1-3 weeks.

Delivery rates

Stock:

Currently 0 available

Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

18 July, 2013

Pages:

464

Description:

This book challenges traditional explanations of the prolonged demise of sterling as an international currency after World War II.

Synopsis:

The demise of sterling as an international currency was widely predicted after 1945, but the process took thirty years to complete. Why was this demise so prolonged? Traditional explanations emphasize British efforts to prolong sterling's role because it increased the capacity to borrow, enhanced prestige, or supported London as a centre for international finance. This book challenges this view by arguing that sterling's international role was prolonged by the weakness of the international monetary system and by collective global interest in its continuation. Using the archives of Britain's partners in Europe, the USA and the Commonwealth, Catherine Schenk shows how the UK was able to convince other governments that sterling's international role was critical for the stability of the international economy and thereby attract considerable support to manage its retreat. This revised view has important implications for current debates over the future of the US dollar as an international currency.

Illustrations:

Illustrations

Publication:

Imprint:

Cambridge University Press

Returns:

Returnable

Some other items by this author:

BRITAIN AND THE STERLING AREA (HB)

CREATING A COACHING CULTURE FOR MANAGERS IN YOUR ORGANISATION

HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE (HB)

INTERNATIONAL ECONOMIC RELATIONS SINCE 1945