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Palgrave Macmillan

Reforming Britain's Economic and Financial Policy

Towards Greater Economic Stability

  • Book
  • © 2002

Overview

Editors:
  1. Ed Balls
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  2. Gus O’Donnell
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About this book

In recent years the UK's macroeconomic policy framework has undergone a period of radical reform so as to deliver the economic stability necessary to achieve high levels of growth and employment. This book provides a comprehensive account of these reforms, which constitute a new and innovative approach to policy making. Radical changes to the monetary policy framework, the fiscal policy framework, the regime for public spending and financial regulation are presented. Together they represent a coherent strategy to deliver economic stability and benefits to the wider economy. As well as providing an unprecedented insight into UK Government economic policy, the book takes the reader through the intellectual foundations of policy reform and the translation of these to applied policy making. Reforming Britain's Economic and Financial Policy contains a foreword by the Chancellor, Gordon Brown.

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Table of contents (20 chapters)

  1. Front Matter

    Pages i-xii
    Download chapter PDF

  2. Introduction

    • Ed Balls, Gus O’Donnell
    Pages 1-3

  3. Lessons from Past Policy Experience

    • Ed Balls, Gus O’Donnell
    Pages 4-26

  4. Overview: Key Principles for Policy Making in an Open Economy

    • Ed Balls, Gus O’Donnell
    Pages 27-43

  5. The New Monetary Policy Framework

    • Gordon Brown
    Pages 44-57

  6. The Benefits of Maintaining Low and Stable Inflation

    • Ed Balls, Gus O’Donnell
    Pages 58-70

  7. The Specification of the Inflation Target

    • Ed Balls, Gus O’Donnell
    Pages 71-84

  8. The UK Model of Central Bank Independence: An Assessment

    • Ed Balls, Gus O’Donnell
    Pages 85-109

  9. Reforms to Financial Regulation

    • Ed Balls, Gus O’Donnell
    Pages 110-131

  10. An Overview of the New Fiscal Policy Framework

    • Ed Balls, Gus O’Donnell
    Pages 132-154

  11. Understanding the Fiscal Rules

    • Ed Balls, Gus O’Donnell
    Pages 155-181

  12. Analysing UK Fiscal Policy

    • Ed Balls, Gus O’Donnell
    Pages 182-202

  13. The Public Finances and the Economic Cycle

    • Ed Balls, Gus O’Donnell
    Pages 203-229

  14. Planning and Controlling Public Spending

    • Ed Balls, Gus O’Donnell
    Pages 230-238

  15. Resource Accounting and Budgeting

    • Ed Balls, Gus O’Donnell
    Pages 239-248

  16. Assessing Long-Term Sustainability

    • Ed Balls, Gus O’Donnell
    Pages 249-262

  17. The Public Sector Balance Sheet

    • Ed Balls, Gus O’Donnell
    Pages 263-279

  18. Debt Management: Theory and Practice

    • Ed Balls, Gus O’Donnell
    Pages 280-298

  19. Reforming the International Financial Architecture

    • Ed Balls, Gus O’Donnell
    Pages 299-316

  20. The EU Macroeconomic Framework

    • Ed Balls, Gus O’Donnell
    Pages 317-331
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Reviews

'A very useful and important book for students of economics and politics...the effort to gather the essence of Brown's economic policy and strategy in one source book is most welcome.' - William Keegan, The Observer

'It should be essential reading for those interested in political economy.' - Colin Thain, The British Journal of Politics and International Relations

About the authors

HM TREASURY, with a foreword by the Chancellor, Gordon Brown.

Bibliographic Information

  • Book Title: Reforming Britain's Economic and Financial Policy

  • Book Subtitle: Towards Greater Economic Stability

  • Editors: Ed Balls, Gus O’Donnell

  • DOI: https://doi.org/10.1057/9780230599833

  • Publisher: Palgrave Macmillan London

  • eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)

  • Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 2002

  • Hardcover ISBN: 978-0-333-96610-5Published: 03 December 2001

  • Softcover ISBN: 978-0-333-96611-2Published: 03 December 2001

  • eBook ISBN: 978-0-230-59983-3Published: 02 December 2001

  • Edition Number: 1

  • Number of Pages: XII, 401

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, Public Policy

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