Clift, Ben and Tomlinson, Jim (2008) Whatever happened to the balance of payments 'problem'? : the contingent (re)construction of British economic performance assessment. British Journal of Politics and International Relations, Vol.10 (No.4). pp. 607-629. doi:10.1111/j.1467-856X.2008.00334.x

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Abstract

This article analyses the changing political significance of UK balance of payments assessment in the post-war era, seeking to explain its disappearance as a policy issue today. We demonstrate the historically contingent nature of balance of payments performance assessment by comparing its shifting, conjunctural, constructions, rooted in underlying political economic assumptions, across four periods in the 20th and 21st centuries. We argue that the political salience of UK balance of payments assessment is contingent upon structural changes (both ideational and material) within the global political economy and domestic politics. Changes in the prevailing policy paradigm through which balance of payments was interpreted (for example from 'embedded liberalism' to neo-liberalism), and redefinitions of balance of payments assessment techniques, both of which happened on numerous occasions in the post-war world, had the effect of reshaping the nature of the external international political economic constraints to which UK governments were subjected.

Item Type:	Journal Article
Subjects:	D History General and Old World > DA Great Britain H Social Sciences > HC Economic History and Conditions
Divisions:	Faculty of Social Sciences > Politics and International Studies
Library of Congress Subject Headings (LCSH):	Balance of payments -- Political aspects -- Great Britain, Great Britain -- Politics and government -- 1945-, Great Britain -- Economic conditions -- 20th century
Journal or Publication Title:	British Journal of Politics and International Relations
Publisher:	Wiley-Blackwell Publishing Ltd.
ISSN:	1369-1481
Official Date:	November 2008
Dates:	Date Event November 2008 Published
Volume:	Vol.10
Number:	No.4
Number of Pages:	23
Page Range:	pp. 607-629
DOI:	10.1111/j.1467-856X.2008.00334.x
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Funder:	Economic and Social Research Council (Great Britain) (ESRC), University of Warwick. Dept. of Politics and International Studies

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