Abstract
It is scarcely possible to exaggerate the extent to which our three devaluations of sterling differed from one another. Indeed, the differences are so striking that it sometimes seems as if the only thing these three devaluations had in common was their coincidence on each occasion with an eclipse of the moon.1 None the less, a comparison of the three episodes reveals a surprising number of similarities – significant enough, in any case, to encourage us to attempt to generalize regarding the causes and effects of the three devaluations.
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© 2003 The Estate of Sir Alec Cairncross and Barry Eichengreen
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Cairncross, S.A., Eichengreen, B. (2003). Concluding Reflections. In: Sterling in Decline. Palgrave Macmillan, London. https://doi.org/10.1057/9780230596306_6
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DOI: https://doi.org/10.1057/9780230596306_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-51164-8
Online ISBN: 978-0-230-59630-6
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