Loading...

SDR: from Bretton Woods to a world currency

by Elena Flor (Author)
Monographs 154 Pages
Series: Federalism, Volume 11

Summary

Keynes’s proposal in 1944 at the Bretton Woods Conference to found the new international monetary system on a world currency (the "bancor") was rejected and the dollar – convertible into gold – was put at the center of the system.
In 1968 the IMF created its own "unit of account" – the SDR – based on a basket of national currencies and, in 1971, president Nixon announced the end of dollar convertibility to gold.
In 2008 the financial crisis erupted and in 2016 the renminbi was included in the SDR basket: a new international multi-currency reserve system is emerging.
This work offers a synthetic but comprehensive view of the international monetary system’s evolution from an original perspective: the process for reinforcing and stabilizing it through the gradual introduction of a world currency (notably, the SDR).

Table Of Content

  • Cover
  • Title
  • Copyright
  • About the author
  • About the book
  • This eBook can be cited
  • Table of Contents
  • Chapter 1. The Bretton Woods Conference (1944)
  • Chapter 2. Special Drawing Rights (SDRs) and the End of the Bretton Woods System (1967-1981)
  • Chapter 3. The First Short Life of the Market for SDR-Denominated Financial Instruments (1975-1985)
  • Chapter 4. The Long Life of European Baskets, the EUA and the ECU, up to the Euro (1950-1999)
  • Chapter 5. The ECU Market (1978-1999): A Model for Relaunching the SDR
  • Chapter 6. IMF Reform after the Crisis: The Increase in Quotas and the SDR Allocation (2009-2016)
  • Chapter 7. China’s Return to the World Economy Culminating in the Inclusion of the Renminbi in the SDR basket (2016)
  • Chapter 8. The Multi-Currency System and the Future of the SDR
  • Chapter 9. SDR: The Virtual Currency of the Future?
  • Annexes
  • A. Before Bretton Woods: The Keynes Plan
  • B. Using the SDR as a Lever to Reform the International Monetary System – Report of an SDR Working Party
  • C. The Robert Triffin International
  • Bibliography
  • Series index

Elena Flor

SDR: from Bretton Woods
to a world currency

About the author

Elena Flor is Head of Corporate Social Responsibility at Intesa Sanpaolo Bank. She is Secretary General of the Robert Triffin International and Board member of the Italian Sustainable Investment Forum ((ItaSIF) and of the Associazione Studi e Ricerche sul Mezzogiorno (SRM).

About the book

Keynes’s proposal in 1944 at the Bretton Woods Conference to found the new international monetary system on a world currency (the “bancor”) was rejected and the dollar – convertible into gold – was put at the center of the system.

In 1968 the IMF created its own “unit of account” – the SDR – based on a basket of national currencies and, in 1971, president Nixon announced the end of dollar convertibility to gold.

In 2008 the financial crisis erupted and in 2016 the renminbi was included in the SDR basket: a new international multi-currency reserve system is emerging.

This work offers a synthetic but comprehensive view of the international monetary system’s evolution from an original perspective: the process for reinforcing and stabilizing it through the gradual introduction of a world currency (notably, the SDR).

This eBook can be cited

This edition of the eBook can be cited. To enable this we have marked the start and end of a page. In cases where a word straddles a page break, the marker is placed inside the word at exactly the same position as in the physical book. This means that occasionally a word might be bifurcated by this marker.

Details

Pages
154
ISBN (PDF)
9782807610187
ISBN (ePUB)
9782807610194
ISBN (MOBI)
9782807610200
ISBN (Softcover)
9782807610170
Language
English
Publication date
2019 (March)
Published
Bruxelles, Bern, Berlin, New York, Oxford, Warsawa, Wien, 2019, 1 ill. b/w, 7 tab. b/w

Biographical notes

Elena Flor (Author)

Elena Flor is Head of Corporate Social Responsibility at Intesa Sanpaolo Bank. She is Secretary General of the Robert Triffin International and Board member of the Italian Sustainable Investment Forum ((ItaSIF) and of the Associazione Studi e Ricerche sul Mezzogiorno (SRM).

Previous

Title: SDR: from Bretton Woods to a world currency