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Whatever Happened to the Balance of Payments ‘Problem’? The Contingent (Re)Construction of British Economic
Performance Assessment
Ben Clift and Jim Tomlinson
This article analyses the changing political significance of UK balance of payments assessment inthe post-war era, seeking to explain its 代写留学生论文disappearance as a policy issue today. We demonstrate the
historically contingent nature of balance of payments performance assessment by comparing itsshifting, conjunctural, constructions, rooted in underlying political economic assumptions, acrossfour periods in the 20th and 21st centuries. We argue that the political salience of UK balanceof 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 ofwhich 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 governmentswere subjected.
Keywords: balance of payments; British politics; constructivist political economy;British economic performance
Introduction

Services: Total balance: CP SA)
1970 437 1989 -21081
1971 795 1990 -14370
1972 -71 1991 -6121
1973 -1770 1992 -7448
1974 -4123 1993 -6325
1975 -1798 1994 -4617
1976 -1398 1995 -3066
1977 1035 1996 -2518
1978 2243 1997 1764
1979 750 1998 -7141
1980 5158 1999 -15454
1981 7189 2000 -19361
1982 5077 2001 -26789
1983 2458 2002 -30875
1984 -918 2003 -29445
1985 3351 2004 -34975
1986 -3214 2005 -44242
1987 -4885 2006 -46532
1988 -17103 2007 -49199
Source: https://www.statistics.gov.uk/statbase/ (updated 19 March 2008)

LTCV LTCV
1970 -125 1989 5440
1971 -1536 1990 -76
1972 692 1991 -2679
1973 -228 1992 1407
1974 -105 1993 -698
1975 655 1994 -1045
1976 853 1995 200
1977 -9588 1996 510
1978 2329 1997 2380
1979 -1059 1998 164
1980 -291 1999 639
1981 2419 2000 -3915
1982 1421 2001 3085
1983 607 2002 459
1984 908 2003 1559
1985 -1758 2004 -196
1986 -2891 2005 -656
1987 -12012 2006 425
1988 -2761 2007 -1191
Source: Office for National Statistics, https://www.statistics.gov.uk/statbase
(updated 19 March 2008)
Notes: LTCV BoP: FA: Assets: Reserves: Total official reserves (ONS). Not
seasonally adjusted
610 BEN CLIFT, JIM TOMLINSON
© 2008 The Authors. Journal compilation © 2008 Political Studies Association
BJPIR, 2008, 10(4)

Notes
The authors would like to thank the ESRC-funded Centre for the Study of Globalisation and Regionalisation
at the University of Warwick for funding Ben Clift’s teaching buy-out which enabled parts of this
research, including archival work at the National Archives, Kew, to be carried out. We would also like to
thank the Department of Politics and International Studies at the University ofWarwick for granting study
leave and providing financial research support which enabled fieldwork in Washington to be carried out.
1. G. Duncan, ‘Pound could be hit by soaring deficit: Britain’s trade deficit balloons to all-time high of
£43 billion’, The Times, 28 March 2007. For a similar story on the previous 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。