Chapter

SDRs in the transition from Bretton Woods monetary arrangements

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs)

Published in print November 2011 | ISBN: 9780199606467
Published online January 2012 | e-ISBN: 9780191731648 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199606467.003.0003
SDRs in the transition from Bretton Woods monetary arrangements

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As soon as SDRs were instituted, the Bretton Woods arrangements began to unravel. While some observers noted that SDRs could not save the Bretton Woods system and were therefore doomed to irrelevance, others—in both the private and public sector—noted that they could serve a useful role, including in the provision of much‐needed liquidity to developing countries. The experience of a nascent and successful private market in SDRs is also an important but hitherto neglected attribute.

Keywords: SDR allocation; international liquidity provision; Committee of Twenty (C‐20); Euromarkets; Eurocurrency Markets; IMF Managing Director

Chapter.  14489 words. 

Subjects: Macroeconomics and Monetary Economics

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