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The Management of Sterling, 1932–1939

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  • Howson, Susan

Abstract

This article briefly discusses the operations of the British Exchange Equalization Account, 1932–1939, on the basis of the Treasury records of the time and in the light of modern views on exchange management. Its conclusion is that although the float may not have been “clean,” the intervention was probably justified by domestic objectives and the state of international capital markets.

Suggested Citation

  • Howson, Susan, 1980. "The Management of Sterling, 1932–1939," The Journal of Economic History, Cambridge University Press, vol. 40(1), pages 53-60, March.
    • Handle: RePEc:cup:jechis:v:40:y:1980:i:01:p:53-60_10
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    Cited by:

    1. Mark Billings & Forrest Capie, 2011. "Financial crisis, contagion, and the British banking system between the world wars," Business History, Taylor & Francis Journals, vol. 53(2), pages 193-215.
    2. Nicholas Crafts, 2013. "Returning to Growth: Policy Lessons from History," Fiscal Studies, Institute for Fiscal Studies, vol. 34(2), pages 255-282, June.
    3. Nicholas Crafts, 2014. "What Does the 1930s' Experience Tell Us about the Future of the Eurozone?," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 713-727, July.
    4. Nicholas Crafts, 2013. "Returning to growth: lessons from the 1930s," Working Papers 13010, Economic History Society.

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