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Author: | Clark, P.B. Polak, J.J. |
Title: | International liquidity and the role of the SDR in the international monetary system |
Journal: | IMF Staff papers
2004 : VOL. 51:1, p. 49-71 |
Index terms: | IMF Liquidity Special drawing rights |
Language: | eng |
Abstract: | It is described in this paper how the changed conditions in the international monetary system have undermined the role of originally envisaged for the SDR. It argues that the concept of a global stock of international liquidity, which was fundamental to the creation of the SDR, is now no longer relevant. |
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