Skip to content

 

Esamples are currently unavailable. We are working to correct the issues as quickly as possible. Thank you for your patience. 

Open global navigation

Cambridge University Press

AcademicLocation selectorSearch toggleMain navigation toggle
Cart
Register Sign in Wishlist

The Decline of Sterling
Managing the Retreat of an International Currency, 1945–1992

$41.99

  • Date Published: July 2013
  • availability: Available
  • format: Paperback
  • isbn: 9781107612990

$41.99
Paperback

Add to cart Add to wishlist

Other available formats:
Hardback, eBook


Looking for an examination copy?

If you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.

Description
Product filter button
Description
Contents
Resources
Courses
About the Authors
  • 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.

    • Challenges prevailing views about the decline of sterling as an international currency by showing how the process was carefully managed
    • Draws on archives of central banks and governments of a broad range of countries, IMF and BIS to give a broader perspective than books that rely on British sources alone
    • Contains important lessons that apply to current debates over the future of the US$ as an international currency
    Read more

    Reviews & endorsements

    "In this valuable and lucid book Catherine R. Schenk tackles the important question of the pound sterling's decline as an international currency and, in so doing, successfully challenges a number of myths." -Richard Toye, American Historical Review

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity

    ×

    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?

    ×

    Product details

    • Date Published: July 2013
    • format: Paperback
    • isbn: 9781107612990
    • length: 464 pages
    • dimensions: 229 x 152 x 24 mm
    • weight: 0.62kg
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    Acknowledgements
    1. Introduction and outline of the book
    Part I. Reconstructing the International Monetary System 1945–59:
    2. The post-war international monetary system 1945–50
    3. Return to convertibility 1950–9
    Part II. Accelerating the Retreat: Sterling in the 1960s:
    4. Sterling and European integration
    5. The sterling devaluation 1967: relations with the USA and the IMF
    6. Sterling and the City
    7. Multilateral negotiations: sterling and the reform of the international monetary system
    8. The sterling agreements of 1968
    Part III. Sterling's Final Retreat 1970–92:
    9. Sterling and the end of Bretton Woods
    10. Years of crisis 1973–9
    11. The aftermath 1980–92
    12. Summary and conclusions
    Index.

  • Author

    Catherine R. Schenk, University of Glasgow
    Catherine R. Schenk is Professor of International Economic History at the University of Glasgow. She has held academic posts in the UK, New Zealand and Malaysia and has been a visiting researcher at the Hong Kong Institute for Monetary Research and the International Monetary Fund. Her previous books include Hong Kong as an International Financial Centre (2001) and Britain and the Sterling Area (1994).

Sign In

Please sign in to access your account

Cancel

Not already registered? Create an account now. ×

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 ×

Continue ×

Find content that relates to you

© Cambridge University Press 2014

Back to top

Are you sure you want to delete your account?

This cannot be undone.

Cancel Delete

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.

×
Please fill in the required fields in your feedback submission.
×