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Tables of Contents for Sterling in Decline
Chapter/Section Title
Page #
Page Count
Foreword
vii
Prologue to the New Edition
ix
1 Introduction
1
9
2 Britain's Exchange and Trade Relations
10
17
International Trade and Payments
12
5
British Trade Policy
17
4
Control of Overseas Lending
21
2
The Sterling Area and Clearing Arrangements
23
4
3 The 1931 Devaluation of Sterling
27
84
Reconstructing the Gold Standard System
27
17
Initial Difficulties
44
8
The Anatomy of Crisis
52
20
Banking Crisis or Balance of Payments Crisis?
72
11
Macroeconomic Effects of Devaluation
83
19
Conclusion
102
2
Appendix
104
7
4 The 1949 Devaluation of Sterling
111
45
A Narrative of Events
112
27
Lessons of the 1949 Episode
139
3
The Economic Background
142
9
The Impact of Devaluation
151
5
5 The 1967 Devaluation of Sterling
156
62
First Difficulties
160
6
The Initial Position of the Labour Government
166
7
The Formulation of Balance of Payments Policy
173
3
The Exchange Crises of 1965 and 1966
176
5
The Impact of Deflationary Measures
181
10
The Failure of Deflationary Measures
191
2
The Aftermath of Devaluation
193
4
The Impact of Devaluation
197
16
Conclusion
213
5
6 Concluding Reflections
218
14
The International Economic Situation
218
3
The Domestic Economic Situation
221
2
Common Elements in the Three Devaluations
223
3
The Development of Thought on Devaluation
226
2
The Effectiveness of Devaluation
228
4
References
232
13
Dramatis Personae
245
8
Index
253