Exchange control for ever?:
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | German |
| Veröffentlicht: |
London
Inst. of Economic Affairs
1979
|
| Schriftenreihe: | Institute of Economic Affairs <London>: Research monographs.
33. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | 78 S. graph.Darst. |
| ISBN: | 0255361173 |
Internformat
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Datensatz im Suchindex
| _version_ | 1804117974471147520 |
|---|---|
| adam_text | Titel: Exchange control for ever?
Autor: Miller, Robert
Jahr: 1979
Contents
page
PREFACE 6
THEAUTHORS 10
GLOSSARY 11
INTRODUCTION 13
What is exchange control ? 13
British exchange control: part ofthe natural order? 14
PART I: How Exchange Control Works 15
A. EXCHANGE CONTROL TODAY 15
Three decades of control 15
Categories of exchange control 16
B. RESTRICTIONS ON INVESTMENT OVERSEAS 17
1. Portfolio investment 17
The 25 per cent surrender rule 19
How the pool may grow 19
2. Direct investment 20
C. RESTRICTIONS ON INDIVIDUALS 22
1. Travel restrictions 22
2. Emigration 23
3. Houses abroad 24
Miscellaneous controls 24
Foreign exchange dealing rooms 25
D. DISCRETIONARY POWERS 27
Administration and enforcement 28
Authorised depositaries 28
Draconian wartime powers retained 29
PART 2: How Exchange Control Began 31
A. THE HISTORICAL BACKGROUND 31
Pre-war origins 31
Relaxation and re-imposition of controls, 1925-
1931 32
Treasury Opposition to legal exchange controls 33
The wartime System 34
(i) Current account transactions 34
(ii) Capital account transactions 34
Emergence of the Sterling Area 35
Post-war exchange control and the return to
convertibility 36
The approach to convertibility 36
Control of capital transactions 38
The scope of the Sterling Area 40
UK in EEC: relaxation of controls 41
B. THE DEBATE INTRODUCING EXCHANGE
CONTROL 43
Stability v. hot money 44
Opposition arguments against control 46
The restoration of convertibility and the position of
the City 47
The Reddaway Report and overseas direct
investment 49
Summary 51
C. THE DEBATE TODAY 53
Exchange control: old arguments ... 53
. . . and new 53
Official Statements 54
The balance of payments must balance 55
Exchange rate at a price 57
The employment argument 60
PART 3: Getting Rid of Exchange Control 62
A. EXCHANGE CONTROL ABROAD 62
Differential exchange rates rather than controls? 62
Unhelpful legacy 63
British exchange control and the EEC 64
B. THE ABOLITION OF EXCHANGE CONTROL 66
Loss from abolition of investment currency
premium 66
Ambiguity and failure 67
Advantages of abolition 68
Possible results of abolition 69
APPENDICES
1. Gold coins and exchange control 71
II. The twenty-five per cent surrender rule 73
CHARTS
1 Investment currency premium, 1950-1978 18
2. Sterling /dollar exchange rate, 1931 -1977 59
QUESTIONS FOR DISCUSSION 75
FURTHER READING 76
CONSEQUENCES 78
|
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| language | German |
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| series | Institute of Economic Affairs <London>: Research monographs. |
| series2 | Institute of Economic Affairs <London>: Research monographs. |
| spelling | Miller, Robert Verfasser aut Exchange control for ever? Robert Miller ; John B. Wood* London Inst. of Economic Affairs 1979 78 S. graph.Darst. txt rdacontent n rdamedia nc rdacarrier Institute of Economic Affairs <London>: Research monographs. 33. Change Change - Droit - Grande-Bretagne Change - Grande-Bretagne Controle gtt Wisselmarkt gtt Recht Foreign exchange Law and legislation Great Britain Devisenbewirtschaftung (DE-588)4133692-6 gnd rswk-swf Großbritannien Großbritannien (DE-588)4022153-2 gnd rswk-swf Devisenbewirtschaftung (DE-588)4133692-6 s DE-604 Großbritannien (DE-588)4022153-2 g Wood, John B. Verfasser aut Institute of Economic Affairs <London>: Research monographs. 33. (DE-604)BV021850828 33. HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002308440&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Miller, Robert Wood, John B. Exchange control for ever? Institute of Economic Affairs <London>: Research monographs. Change Change - Droit - Grande-Bretagne Change - Grande-Bretagne Controle gtt Wisselmarkt gtt Recht Foreign exchange Law and legislation Great Britain Devisenbewirtschaftung (DE-588)4133692-6 gnd |
| subject_GND | (DE-588)4133692-6 (DE-588)4022153-2 |
| title | Exchange control for ever? |
| title_auth | Exchange control for ever? |
| title_exact_search | Exchange control for ever? |
| title_full | Exchange control for ever? Robert Miller ; John B. Wood* |
| title_fullStr | Exchange control for ever? Robert Miller ; John B. Wood* |
| title_full_unstemmed | Exchange control for ever? Robert Miller ; John B. Wood* |
| title_short | Exchange control for ever? |
| title_sort | exchange control for ever |
| topic | Change Change - Droit - Grande-Bretagne Change - Grande-Bretagne Controle gtt Wisselmarkt gtt Recht Foreign exchange Law and legislation Great Britain Devisenbewirtschaftung (DE-588)4133692-6 gnd |
| topic_facet | Change Change - Droit - Grande-Bretagne Change - Grande-Bretagne Controle Wisselmarkt Recht Foreign exchange Law and legislation Great Britain Devisenbewirtschaftung Großbritannien |
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