Christopher M.D. Wilkie

in Special Drawing Rights (SDRs)

Published in print November 2011 | ISBN: 9780199606467
Published online January 2012 | e-ISBN: 9780191731648 | DOI:

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The short and chequered history of SDRs may be viewed as disappointing only when measured against the grand hopes that were expressed about them at their birth. Although they arrived ‘too little, and too late’ to save the Bretton Woods system, they have been adapted to post‐Bretton Woods arrangements and were an important part of the liquidity package put together to respond to the international financial crisis. Technical work has continued on enhancing their role. The SDR's prospective contribution to international monetary stability and the world economy remains considerable.

Keywords: SDR and twenty‐first century; re‐emergence of SDRs on international monetary agenda; SDR and international economy; SDR and different international monetary arrangements; SDR flexibility/adaptability/relevance

Chapter.  2477 words. 

Subjects: Macroeconomics and Monetary Economics

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