Accominotti, O., ‘The sterling trap: foreign exchange reserves management at the Bank of France, 1928-1936’ European Review of Economic History, 13, (2009), pp.349-76.
- Accominotti, O., Flandreau, M., Rezzik, R. and Zumer, F., ‘Black man’s burden, white man’s welfare: control, devolution and development in the British empire, 1880-1914’ European Review of Economic History, 14, (2009), pp.47-70.
Paper not yet in RePEc: Add citation now
Alesina, A. and Tabellini, G., ‘A positive theory of fiscal deficits and government debt’ Review of Economic Studies, 57(3), (1990), pp.403-14.
- Balachandran, G., The Reserve Bank of India, 1951-1967 (Oxford, 1998).
Paper not yet in RePEc: Add citation now
- Bangura, Y., Britain and Commonwealth Africa: the politics of economic relations, 195175 (Manchester, 1983).
Paper not yet in RePEc: Add citation now
Ben-Bassat, A., ‘The optimal composition of foreign exchange reserves’ Journal of International Economics, 10, (1980), pp.285-95.
- Bhagat, A., ‘Working of the sterling area gold and dollar pool – 1948-58: an essay in regional multilateral payments system’ Indian Economic Journal, 9(2), (1961), pp.199-218.
Paper not yet in RePEc: Add citation now
- Brenchley, F., Britain and the Middle East: an economic history 1945-87 (Lester Crook, 1989).
Paper not yet in RePEc: Add citation now
- Brenchley, F., Britain, the Six-Day War and its aftermath (Tauris, 2005).
Paper not yet in RePEc: Add citation now
- Burnham, P., Remaking the postwar world economy: Robot and British policy in the 1950s (Palgrave Macmillan, 2003).
Paper not yet in RePEc: Add citation now
- Cairncross, A., Managing the British economy in the 1960s: a Treasury perspective (Macmillan, 1996).
Paper not yet in RePEc: Add citation now
- Cohen, B.J., ‘Reflections on liberal and monetary orders’, pp.144-147 in Norrlof, C., Poast, P., Cohen, B.J., Croteau, S., Khanna, A., McDowell, D., Wang, H. and Winekoff, W.K., ‘Global monetary order and the liberal order debate’ International Studies Perspectives, (2020).
Paper not yet in RePEc: Add citation now
Cohen, B.J., Currency power: Understanding monetary rivalry (Princeton, 2015).
- Cohen, B.J., The future of sterling as an international currency (Macmillan, 1971).
Paper not yet in RePEc: Add citation now
- Conan, A.R., The sterling area (Macmillan, 1952).
Paper not yet in RePEc: Add citation now
- Crick, F., ‘The framework of inter-relations’ in Crick, F., ed., Commonwealth banking systems (Oxford, 1965), pp.1-53.
Paper not yet in RePEc: Add citation now
- Day, A.C.L., The future of sterling (Oxford, 1954).
Paper not yet in RePEc: Add citation now
Dellas, H. and Chin, B.Y., ‘Reserve currency preferences of central banks: the case of Korea’ Journal of International Money and Finance, 10, (1991), pp.406-19.
Dooley, M.P., Lizondo, J.S. and Mathieson, D., ‘The currency composition of foreign exchange reserves’ IMF Staff Papers, 36(2), (1989), pp.385-434.
Eichengreen, B. and Mathieson, D., ‘The currency composition of foreign exchange reserves: retrospect and prospect’, IMF Working Paper, 131 (2000).
Eichengreen, B., Chitu, L. and Mehl, A., ‘Stability or upheaval? The currency composition of international reserves in the long run’ IMF Economic Review, 64(2), (2016), pp.354-80.
Eichengreen, B., Exorbitant privilege: the rise and fall of the dollar and the future of the international monetary system (Oxford, 2011).
Eichengreen, B., Global imbalances and the lessons of Bretton Woods (MIT, 2010).
Eichengreen, B., Mehl, A. and Chitu, L., ‘Mars or Mercury? The geopolitics of international currency choice’, Economic Policy, 34(98), (2019), pp.315-63.
- For example, in repeated country notes in the IMF’s International Financial Statistics publications during the 1950s, South Africa’s position in the Sterling Area, despite large gold holdings, was explained on the grounds that most of its foreign exchange was held in sterling. Ceylon’s 1950s intention, that half its central bank reserves could be in US dollars, was rejected by the British as irreconcilable with Sterling Area practice.94 The British application of a rough threshold effect (or implicit membership rule) can also be identified in the movements of Iraq and Burma, each of which went below 50% around the time of their expulsions (see Table A.1 below). There are also the examples of Singapore taking its official holdings down to 50% in 1967, to the great irritation of the British, and Libya being considered for expulsion in the same year as its reserves passed this threshold (see 93 Schenk, The decline of sterling, p.216. 94 BOE, OV82/5. 1.9.58.
Paper not yet in RePEc: Add citation now
- Gallarotti, G.M., The power curse: influence and illusion in world politics (Rienner, 2010).
Paper not yet in RePEc: Add citation now
Galpern, S.G., Money, oil and empire in the Middle East: sterling and postwar imperialism, 1944-1971 (Cambridge, 2013).
- Handbook of the History of Money and Currency, (Springer, Singapore, 2020), pp.771-790.
Paper not yet in RePEc: Add citation now
- Hanke, S.H. and Schuler, K., Currency boards for developing countries: a handbook, Revised edition, (Institute for Contemporary Studies, 2015).
Paper not yet in RePEc: Add citation now
- Hazlewood, A., ‘Sterling balances and the colonial currency system’ Economic Journal, 62(248), (1952), pp.942-5.
Paper not yet in RePEc: Add citation now
- Helleiner, Eric. The making of national money: Territorial currencies in historical perspective (Cornell, 2003).
Paper not yet in RePEc: Add citation now
- Henshaw, P.J., ‘Britain, South Africa and the sterling area: gold production, capital investment and agricultural markets, 1931-1961’, Historical Journal, 39(1), (1996), pp.197-223.
Paper not yet in RePEc: Add citation now
Izetski, E., Reinhart, C.M. and Rogoff, K.S., ‘The country chronologies to exchange rate arrangements into the 21st century: will the anchor currency hold?’, National Bureau of Economic Research, Working paper 23135, (2017).
- Jones, G., Banking and oil: the history of the British Bank of the Middle East, Volume 2 (Cambridge, 1987).
Paper not yet in RePEc: Add citation now
- Jones, G., British multinational banking 1830-1990 (Oxford, 1993).
Paper not yet in RePEc: Add citation now
- Kamarck, A.M., ‘Dollar pooling in the sterling area: comment’ American Economic Review, 45(4), (1955), pp.652-5.
Paper not yet in RePEc: Add citation now
- Kennedy, F., ‘Sterling’s persistence as a reserve currency: Australia and reserves pooling, 1950-68’, Australian Economic History Review, (2018), pp.1-29.
Paper not yet in RePEc: Add citation now
- Khanna, A. and Winecoff, W.K., ‘The Money Shapes the Order’ in Norrlof, C., Poast, P., Cohen, B.J., Croteau, S., Khanna, A., McDowell, D., Wang, H. and Winekoff, W.K., ‘Global monetary order and the liberal order debate’, International Studies Perspectives, (2020).
Paper not yet in RePEc: Add citation now
- Kirby, M.W., The decline of British economic power since 1870 (George Allen & Unwin, 1981).
Paper not yet in RePEc: Add citation now
- Kirshner, J. Currency and coercion: The political economy of international monetary power (Princeton, 1995).
Paper not yet in RePEc: Add citation now
- Norrlof, C., ‘The security foundations of dollar primacy’ pp18-24 in Norrlof, C., Poast, P., Cohen, B.J., Croteau, S., Khanna, A., McDowell, D., Wang, H. and Winekoff, W.K., ‘Global monetary order and the liberal order debate’, International Studies Perspectives, (2020).
Paper not yet in RePEc: Add citation now
Papaioannou, E., Portes, R. and Siourounis, G., ‘Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar’, Journal of the Japanese and International Economies, 20, (2006), pp.508-47.
- Polk, J., Sterling: its meaning in world finance (Harper, 1956).
Paper not yet in RePEc: Add citation now
Prasad, E.S., The dollar trap: how the U.S. dollar tightened its grip on global finance (Princeton, 2014).
Rajan, R., Siregar, R. and Bird, G., ‘Examining the case for an Asian reserve pool’ in Rajan, R.S., ed., Exchange rates, currency crisis and monetary cooperation in Asia (Palgrave Macmillan, 2009), pp.193-214.
- Sargent, J.R., ‘Britain and the sterling area’ in Worswick, G.D.N. and Ady, P.H., eds., The British economy, 1949-1950 (Oxford, 1952), pp.531-49.
Paper not yet in RePEc: Add citation now
Schenk, C.R. and Singleton, J., ‘New Zealand’s exchange rate regime, the collapse of Bretton Woods, and the twilight of the sterling area’, World Economy & Finance Research Programme, Working paper series, WEF 0030, (Birkbeck, 2007).
- Schenk, C.R., ‘Malaysia and the end of the Bretton Woods system, 1965-72: disentangling from sterling’ Journal of Imperial and Commonwealth History, 36(2), (2008), pp.197-220.
Paper not yet in RePEc: Add citation now
Schenk, C.R., ‘Monetary institutions in newly independent countries: the experience of Malaya, Ghana and Nigeria in the 1950s’ Financial History Review, 4, (1997), pp.18198.
- Schenk, C.R., ‘The Sterling Area 1945–1972’. in Battilossi S., Cassis Y., and Yago K. eds.
Paper not yet in RePEc: Add citation now
- Schenk, C.R., ‘The sterling area and economic disintegration’ Geschichte und Gesellschaft, 39(2), (2013), pp.177-196.
Paper not yet in RePEc: Add citation now
- Schenk, C.R., Britain and the sterling area: from devaluation to convertibility in the 1950s (Routledge, 1994).
Paper not yet in RePEc: Add citation now
Schenk, C.R., The decline of sterling: managing the retreat of an international currency, 1945-1992 (Cambridge, 2010).
- Schuler, K.A., ‘Currency boards’ (unpub. Ph.D. thesis, George Mason University, 1992).
Paper not yet in RePEc: Add citation now
- Scott, M.FG., ‘The balance of payments crises’ in Worswick, G.D.N. and Ady, P.H., eds., The British economy in the nineteen-fifties (Oxford, 1962), pp.205-30.
Paper not yet in RePEc: Add citation now
- Scott, M.FG., ‘What should be done about the sterling area?’ Bulletin of the Oxford University Institute of Economics and Statistics, 21(4), (1959), pp.213-51.
Paper not yet in RePEc: Add citation now
- Shonfield, A., British economic policy since the war, Revised edition (Penguin, 1959).
Paper not yet in RePEc: Add citation now
- Singleton, J. and Robertson, P.R., Economic relations between Britain and Australasia 1945-1970 (Palgrave, 2002).
Paper not yet in RePEc: Add citation now
Singleton, J. and Schenk, C.R., ‘The shift from sterling to the dollar, 1965-76: evidence from Australia and New Zealand’ Economic History Review, 68(4), (2015), pp.1154-76.
- Smith, S.C., Kuwait, 1950-1965: Britain, the al-Sabah, and oil (Oxford, 1999).
Paper not yet in RePEc: Add citation now
Soesmanto, T., Selvanathan, E.A. and Selvanathan, S., ‘Analysis of the management of currency composition of foreign exchange reserves in Australia’ Economic Analysis and Policy, 47, (2015), pp.82-9.
- Strange, S., Sterling and British policy: a political study of an international currency in decline (Oxford, 1971).
Paper not yet in RePEc: Add citation now
- the central obligation of Sterling Area countries in the Sterling Agreements of 1968-74.93 The de facto measure of exit we use is the (month and) year of decisive transition by a country away from holding a majority of its FX reserves (i.e. not including gold or other reserve assets) in sterling form. The resulting exits, together with peg and formal exit dates, are set out in Table A.1 below. The exclusion of gold and IMF reserves reflects the Sterling Area’s discriminatory role in favouring sterling relative to national currency rivals, particularly the US dollar. Gold holdings to varying degrees backed the domestic currencies of Sterling Area countries (e.g. India and South Africa), and the idea of an IMF member holding IMF reserves and SDRs could hardly be challenged by British officials. The use of the majority threshold is evidenced and supported in a wide range of sources.
Paper not yet in RePEc: Add citation now
- Thomas, C.Y., The structure, performance and prospects of central banking in the Caribbean (University of West Indies, 1972).
Paper not yet in RePEc: Add citation now
Wandschneider, K., ‘The stability of the interwar gold exchange standard: did politics matter?’ Journal of Economic History, 68(1), (2008), pp.151-81.
Williams, O., Polius, T. and Hazel, S., ‘Reserve pooling in the Eastern Caribbean Currency Union and the CFA Franc Zone: a comparative analysis’ Savings and Development, 29(1), (2005), pp.39-60.
- Wolf, H.C. and Yousef, T.M., ‘Breaking the fetters: why did countries exit the interwar gold standard?’, in Hatton, T.J., O’Rourke, K.H. and Taylor, A.M., eds., The new comparative economic history: essays in honor of Jeffrey G. Williamson (MIT, 2007), pp.241-65.
Paper not yet in RePEc: Add citation now
- Wright, K.M., ‘Dollar pooling in the sterling area, 1939-52’, American Economic Review, 44(4), (1954), pp.559-76.
Paper not yet in RePEc: Add citation now