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Reforming the international monetary system in the 1970s and 2000s: Would a special drawing right substitution account have worked?

Abstract:

Advocates of a more pluralistic international monetary and financial system seek to reduce reliance on a single national currency and to bring international liquidity under collective control. One recently revived proposal would transform US dollar official reserves into claims denominated in the IMF's key currency basket, Special Drawing Rights (SDRs). Drawing on new archival evidence and simulations, this article highlights issues that derailed earlier agreement on such an account and short...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1111/infi.12069

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Institution:
University of Oxford
Division:
HUMS
Department:
History Faculty
Oxford college:
St Hilda's College
Role:
Author
Economic and Social Research Council More from this funder
Publisher:
Wiley Publisher's website
Journal:
International Finance Journal website
Volume:
18
Issue:
2
Pages:
187-206
Publication date:
2015-08-27
DOI:
EISSN:
1468-2362
ISSN:
1367-0271
Source identifiers:
735344
Keywords:
Pubs id:
pubs:735344
UUID:
uuid:84267c69-c52f-49c6-93a3-4c715f062ae6
Local pid:
pubs:735344
Deposit date:
2017-10-13

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