The retirement of Sterling as a Reserve Currency after 1945: Lessons for the US Dollar?

Schenk, C. (2011) The retirement of Sterling as a Reserve Currency after 1945: Lessons for the US Dollar? World Financial Review,

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Publisher's URL: http://www.worldfinancialreview.com/

Abstract

The global reserves system is coming under increased scrutiny both as a contributor to the global crisis and as a threat to future stability. This article examines how the change from sterling to the US dollar as the primary reserve currency was achieved without a major crisis in the international monetary system. It concludes that the process was carefully (and expensively) managed by the G10 group of economies.

Item Type:Articles
Status:Published
Refereed:No
Glasgow Author(s) Enlighten ID:Schenk, Professor Catherine
Authors: Schenk, C.
Subjects:H Social Sciences > HC Economic History and Conditions
College/School:College of Social Sciences > School of Social and Political Sciences > Economic and Social History
Journal Name:World Financial Review
Published Online:01 May 2011

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Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
413411The experience of exchange rate regime change among developing countries 1968-78Catherine SchenkEconomic & Social Research Council (ESRC)RES-165-25-0004Economic and Social History