Download or read book The IMF Crisis of 1976 and British Politics written by Kevin Hickson and published by Bloomsbury Publishing. This book was released on 2005-02-25 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1976 IMF crisis was a seminal event in modern British political and economic history. The seeds of the crisis were sown by the huge OPEC oil price shocks of 1972-3 leading to the potential meltdown of Britain's already weakened economy and seemingly confirming Britain's headlong decline as a major political and economic power. The government was seen as going 'cap in hand' to the International Monetary Fund (IMF) to head off disaster - an image which became a long-lasting political icon. Kevin Hickson has mined vital original source material, including interviews with leading players, to probe government economic thought and practice. He questions much received wisdom, especially that the crisis caused a basic shift to monetarist orthodoxy and right-wing economic liberalism - commonly known as 'Thatcherism' - and embraced by successive governments including New Labour.
Download or read book Good bye Great Britain written by Kathleen Burk and published by Yale University Press. This book was released on 1992-01-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this authoritative and gripping book--the first full account of the 1976 International Monetary Fund crisis--Kathleen Burk and Alec Cairncross peel back the surface of the most searing economic crisis of postwar Britain to reveal its historical roots and contemporary context. During the spring of 1976, the plummeting value of the British pound against the U.S. dollar triggered a traumatic economic and political crisis. International confidence in the pound collapsed; an article in the Wall Street Journal, headlined "Good-bye, Great Britain," urged investors to get out of sterling. Refused aid by the London and New York markets, the Labour Government under Prime Minister James Callaghan was forced to turn for help to the IMF--a highly unusual move for a developed Western economy. Fearing that the economic crisis would drive Britain into a left-wing siege economy which would endanger NATO and the EEC, the United States and Germany used the IMF loan as a means to force Britain to make major domestic policy changes; when the IMF mission arrived in London in November 1976, it was announced that the price for the loan included deep cuts in domestic spending. Burk and Cairncross uncover the maneuvers of the Labour Government to evade IMF conditions. They also examine underlying economic factors, the political agenda, the rise of monetarist ideas, and the Keynesian response. Juxtaposing narrative with analysis, they provide surprising answers to critical questions and reveal how the breakdown of the post-war consensus on the macroeconomic management paved the way for the triumph of Thatcherism.
Download or read book The British Labour Government and the 1976 IMF Crisis written by M. Harmon and published by Springer. This book was released on 1997-11-05 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: The British Labour Government and the 1976 IMF Crisis examines the external pressures vis-à -vis British economic policy that culminated in the 1976 UK-IMF crisis. The postwar development of IMF loan conditionality is reviewed as well as the growing incompatibility after 1974 between the Government's domestic political imperatives and Britain's external economic constraints that led to the crisis. More generally, the case study demonstrates the coercive and constraining nature of 'international cooperation' in contemporary international relations.
Download or read book The 1976 IMF Crisis and British Politics written by Kevin Arthur Hickson and published by . This book was released on 2002 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The British Labour Government and the 1976 IMF Crisis written by Mark D. Harmon and published by Palgrave Macmillan. This book was released on 1997 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the external pressures vis-a-vis British economic policy that culminated in the 1976 UK-IMF crisis. The postwar development of IMF loan conditionality, is reviewed as well as the growing incompatibility after 1974 between the government's domestic and political imperatives and Britain's external economic constraints that led to the crisis. More generally, the case study demonstrates the coercive and constraining nature of international cooperation in contemporary international relations.
Download or read book Decline to Fall written by Douglas Wass and published by Oxford University Press. This book was released on 2008-03-13 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by the former Permanent Secretary to HM Treasury, Sir Douglas Wass, Decline to Fall traces the unusual events of the 1976 IMF crisis which saw the UK government accept a massive loan from the IMF. Using a wealth of documentation, Sir Douglas questions the inevitability of the crisis and the measures taken to resolve it.
Download or read book The Politics of Decline written by G. Fry and published by Palgrave Macmillan. This book was released on 2004-12-07 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Britain was victorious in the Second World War, and yet thirty years later she had many of the characteristics of a defeated nation. What went wrong? The Politics of Decline sets out the assumptions of the 1940s and clinically examines the records of successive Governments as they strove to run the country in the approved manner. The I.M.F. crisis of 1976 brought these efforts to a shuddering halt. Using original sources, this book marshals the evidence to support a compellingly written interpretation of events.
Download or read book The IMF and European Economies written by Chris Rogers and published by Springer. This book was released on 2012-07-17 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the role that the IMF has played in the management of financial crises in developed nations. The topic is of particular significance in light of the global financial crisis that emerged following the collapse of American sub-prime mortgage markets in 2007, and the subsequent sovereign debt problems of many Western states.
Download or read book The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis written by Ben Clift and published by Oxford University Press. This book was released on 2018 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the IMF's role as arbiter of legitimate economic policy since the 2008 crash, and during aftershocks of the Eurozone crisis.
Download or read book When Britain Went Bust written by Richard Roberts and published by . This book was released on 2016 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Political Economy of Britain in Crisis written by Christopher Kirkland and published by Springer. This book was released on 2017-07-05 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores two recent crises in British political economy: the crisis of 1976–9, for which the trade unions were impugned, and the 2007 economic crisis, for which bankers were (at least initially) blamed. The author argues that the “crisis resolution” of the former – principally the Thatcherite reforms of the 1980s – led to the emergence of the banking crisis. Further, Kirkland demonstrates how narratives of blame have emerged and were used in both instances to promote specific agendas. Narrations of blame and crises were used to curb the trade union powers in the 1980s, whilst the 2007 crisis was quickly reframed as one of excessive government spending, which in turn has led to policies of austerity.
Download or read book A Hard Pounding written by Edmund Dell and published by Oxford University Press, USA. This book was released on 1991 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a penetrating insider account of the policy issues involved in managing Britain's economy from 1974 to the crisis of 1976. Throughout these years the author served as Deputy to the Chancellor of the Exchequer, and then Secretary of State. The book contains entirely new primary material--much of it based on the diaries Dell kept at the time--and covers years which were pivotal in post-war history in general, and for Labor in particular.
Download or read book Decline to Fall written by Sir Douglas Wass and published by . This book was released on 2008 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulatory Cycles Revisiting the Political Economy of Financial Crises written by Jihad Dagher and published by International Monetary Fund. This book was released on 2018-01-15 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.
Download or read book Peter Shore written by Kevin Hickson and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first academic biography of one of the leading thinkers of the Labour Party, Peter Shore.
Download or read book The Wealth Effect written by Jeffrey M. Chwieroth and published by Cambridge University Press. This book was released on 2019-03-21 with total page 597 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shows how the politics of banking crises has been transformed by the growing 'great expectations' among middle class voters that governments should protect their wealth.
Download or read book The Liquidation of Government Debt written by Ms.Carmen Reinhart and published by International Monetary Fund. This book was released on 2015-01-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
