{"product_id":"the-decline-of-sterling-managing-the-retreat-of-an-international-currency-1945-1992-hardback-9780521876971","title":"The Decline of Sterling; Managing the Retreat of an International Currency, 1945–1992 (Hardback) 9780521876971","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Decline of Sterling\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eManaging the Retreat of an International Currency, 1945–1992\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThis book challenges traditional explanations of the prolonged demise of sterling as an international currency after World War II.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eCatherine R. Schenk (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521876971, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 27 May 2010\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e464 pages\u003cbr\u003e23.5 x 15.8 x 3 cm, 0.86 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'Anyone concerned about how to resolve the global imbalances in the international economy today needs to read Catherine Schenk's detailed study of the political and economic difficulties that bedevilled Britain's decades-long effort to eliminate the 'sterling problem' left over from World War II. Her detailed analysis of the issues that confronted British policymakers and how they were resolved shows how hard it is to correct global imbalances once they exist, even with the best of intentions and international cooperation. For, even if the stakes diminish over time, as they did with British sterling, the stake holders and their interests keep changing as well.' Larry Neal, University of Illinois, Urbana-Champaign\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of figures\u003cbr\u003e List of tables\u003cbr\u003e Acknowledgements\u003cbr\u003e 1. Introduction and outline of the book\u003cbr\u003e Part I. Reconstructing the International Monetary System 1945–59: 2. The post-war international monetary system 1945–50\u003cbr\u003e 3. Return to convertibility 1950–9\u003cbr\u003e Part II. Accelerating the Retreat: Sterling in the 1960s: 4. Sterling and European integration\u003cbr\u003e 5. The sterling devaluation 1967: relations with the USA and the IMF\u003cbr\u003e 6. Sterling and the City\u003cbr\u003e 7. Multilateral negotiations: sterling and the reform of the international monetary system\u003cbr\u003e 8. The sterling agreements of 1968\u003cbr\u003e Part III. Sterling's Final Retreat 1970–92: 9. Sterling and the end of Bretton Woods\u003cbr\u003e 10. Years of crisis 1973–9\u003cbr\u003e 11. The aftermath 1980–92\u003cbr\u003e 12. Summary and conclusions\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economic history [\u003ca title=\"See our other books on Economic history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20history%20%5BKCZ%5D%22\"\u003eKCZ\u003c\/a\u003e], 20th century history: c 1900  to c 2000 [\u003ca title=\"See our other books on 20th century history: c 1900  to c 2000\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%2220th%20century%20history:%20c%201900%20%20to%20c%202000%20%5BHBLW%5D%22\"\u003eHBLW\u003c\/a\u003e], British \u0026amp; Irish history [\u003ca title=\"See our other books on British \u0026amp; Irish history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22British%20\u0026amp;%20Irish%20history%20%5BHBJD1%5D%22\"\u003eHBJD1\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":45913262555416,"sku":"9780521876971","price":114.49,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521876971i_bf304965-4530-4da0-8f83-ef3a172b39aa.jpg?v=1691358747","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-decline-of-sterling-managing-the-retreat-of-an-international-currency-1945-1992-hardback-9780521876971","provider":"Freshly Printed Books","version":"1.0","type":"link"}