Special Drawing Rights
From a situation as late as 2008, when they were largely unfashionable, special drawing rights (SDR s) have become the centre of attention in discussions about a reformed international monetary system. The G20 and the International Monetary Fund (IMF) have backed a significant additional allocation of SDRs, and China and the United Nations have suggested that this should be followed up with more substantial reforms that diminish the role of the dollar and enhance that of the SDR . These proposals would incorporate a substitution account that allows holders of dollars to swap them into SDR s, but they see this as only one step towards establishing an SDR -based system. This article assesses the issues involved and the contemporary political economy of such proposals, placing them in historical context. It contemplates the likely evolution of the international monetary system, and examines the extent to which the SDR is likely to come back fully into fashion.
Volume (Year): 11 (2010)
Issue (Month): 1 (January)
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:wej:wldecn:406. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ed Jones)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.