IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v38y2018i3p357-366.html
   My bibliography  Save this article

The Bank of England Over 325 Years

Author

Listed:
  • Forrest Capie

Abstract

The Bank of England's emergence as a central bank was the end of a long process that began soon after its founding in the late seventeenth century and continued until the third quarter of the nineteenth century. Its current two core principles emerged at different times. Monetary stability came first, a consequence of its responsibility for the gold standard. Financial stability followed in the course of the nineteenth century as the Bank slowly acquired the role of lender of last resort. Its mandate was a consequence of the two‐way relationship with government and some external forces.

Suggested Citation

  • Forrest Capie, 2018. "The Bank of England Over 325 Years," Economic Affairs, Wiley Blackwell, vol. 38(3), pages 357-366, October.
    • Handle: RePEc:bla:ecaffa:v:38:y:2018:i:3:p:357-366
    DOI: 10.1111/ecaf.12307
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/ecaf.12307
    Download Restriction: no
    File URL: https://libkey.io/10.1111/ecaf.12307?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Siklos, Pierre L., 2017. "Central Banks into the Breach: From Triumph to Crisis and the Road Ahead," OUP Catalogue, Oxford University Press, number 9780190228835.
    2. Capie,Forrest, 2010. "The Bank of England," Cambridge Books, Cambridge University Press, number 9780521192828, May.
    3. Goodhart,Charles, 2011. "The Basel Committee on Banking Supervision," Cambridge Books, Cambridge University Press, number 9781107007239, May.
    4. Wood,John H., 2005. "A History of Central Banking in Great Britain and the United States," Cambridge Books, Cambridge University Press, number 9780521850131, May.
    5. Qvigstad,Jan Fredrik, 2016. "On Central Banking," Cambridge Books, Cambridge University Press, number 9781107150973, May.
    6. Mark Billings & Forrest Capie, 2007. "Capital in British banking, 1920-1970," Business History, Taylor & Francis Journals, vol. 49(2), pages 139-162.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Calvert Jump, Robert & Kohler, Karsten, 2022. "A history of aggregate demand and supply shocks for the United Kingdom, 1900 to 2016," Explorations in Economic History, Elsevier, vol. 85(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael D. Bordo & Pierre Siklos, 2017. "Central Banks: Evolution and Innovation in Historical Perspective," Economics Working Papers 17105, Hoover Institution, Stanford University.
    2. David Aikman & Andrew Haldane & Marc Hinterschweiger & Sujit Kapadia, 2018. "Rethinking financial stability," Bank of England working papers 712, Bank of England.
    3. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, May.
    4. Juan Acosta & Beatrice Cherrier & François Claveau & Clément Fontan & Aurélien Goutsmedt & Francesco Sergi, 2023. "Six Decades of Economic Research at the Bank of England," Post-Print hal-03919394, HAL.
    5. Avner Offer, 2013. "Narrow Banking, Real Estate, and Financial Stability in the UK, c.1870-2010," Oxford Economic and Social History Working Papers _116, University of Oxford, Department of Economics.
    6. repec:ehl:wpaper:67035 is not listed on IDEAS
    7. Goodhart, Charles, 2013. "Ratio controls need reconsideration," Journal of Financial Stability, Elsevier, vol. 9(3), pages 445-450.
    8. Bokor, László, 2007. "Optimality criteria of hybrid inflation-price level targeting," MPRA Paper 10278, University Library of Munich, Germany, revised Jul 2008.
    9. Robert L. Hetzel, 2014. "The Real Bills Views of the Founders of the Fed," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 159-181.
    10. Belke, Ansgar & Freytag, Andreas & Keil, Jonas & Schneider, Friedrich, 2014. "The credibility of monetary policy announcements: Empirical evidence for OECD countries since the 1960s," International Review of Economics & Finance, Elsevier, vol. 33(C), pages 217-227.
    11. Kohajda Michael, 2022. "Central Bank Independence – From the European Union Law to the Czech Republic Example," European Studies - The Review of European Law, Economics and Politics, Sciendo, vol. 9(1), pages 234-244, August.
    12. Goodhart, Charles A. E. & Needham, Duncan J., 2018. "Historical reasons for the focus on broad monetary aggregates in post-World War II Britain and the ‘Seven Years War’ with the IMF," LSE Research Online Documents on Economics 87364, London School of Economics and Political Science, LSE Library.
    13. Alain Naef, 2021. "Dirty float or clean intervention? The Bank of England in the foreign exchange market," European Review of Economic History, European Historical Economics Society, vol. 25(1), pages 180-201.
    14. Hyoung-kyu Chey & Yu Wai Vic Li, 2016. "Bringing the Central Bank into the Study of Currency Internationalization: Monetary Policy, Independence, and Internationalization," GRIPS Discussion Papers 15-23, National Graduate Institute for Policy Studies.
    15. Alan M. Taylor, 2015. "Credit, Financial Stability, and the Macroeconomy," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 309-339, August.
    16. Avinash D. Persaud, 2015. "How Not to Regulate Insurance Markets: The Risks and Dangers of Solvency II," Policy Briefs PB15-5, Peterson Institute for International Economics.
    17. Blancheton, Bertrand, 2016. "Central bank independence in a historical perspective. Myth, lessons and a new model," Economic Modelling, Elsevier, vol. 52(PA), pages 101-107.
    18. Harvey, Rachel, 2013. "The legal construction of the global foreign exchange market," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 343-354.
    19. Henry Penikas, 2021. "Review of Bank of Russia – NES Workshop 'Identification and Measurement of Macroprudential Policies Effects'," Russian Journal of Money and Finance, Bank of Russia, vol. 80(3), pages 94-104, September.
    20. Emmanuel Mourlon‐Druol, 2016. "Banking Union in Historical Perspective: The Initiative of the European Commission in the 1960s–1970s," Journal of Common Market Studies, Wiley Blackwell, vol. 54(4), pages 913-927, July.
    21. Monnet, Eric & Puy, Damien, 2020. "Do old habits die hard? Central banks and the Bretton Woods gold puzzle," Journal of International Economics, Elsevier, vol. 127(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecaffa:v:38:y:2018:i:3:p:357-366. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0265-0665 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.