Special Drawing Rights

Graham Bird

World Economics, 2010, vol. 11, issue 1, 83-98

Abstract: 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.

Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.worldeconomics.com/Journal/Papers/Article.details?ID=406 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wej:wldecn:406

Access Statistics for this article

More articles in World Economics from World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE
Bibliographic data for series maintained by Ed Jones ().