Reform of the International Monetary System Based on Special Drawing Rights and its Implications for Asia

14 Pages Posted: 21 Dec 2009  

Motomichi Ikawa

Nihon University - Graduate School of Business

Abstract

In the midst of the current global economic crisis, China's central bank governor came out with a proposal to reform the international monetary system based on special drawing rights, contrary to the general expectation of the international community. Although many believe the announcement was politically motivated to address the dollar problem, the reform idea may have important bearings upon the future evolution of the economic integration of Asia. This paper reviews the implications of the reform proposal for the Asian region.

Suggested Citation

Ikawa, Motomichi, Reform of the International Monetary System Based on Special Drawing Rights and its Implications for Asia. Pacific Economic Review, Vol. 14, Issue 5, pp. 668-681, December 2009. Available at SSRN: https://ssrn.com/abstract=1525087 or http://dx.doi.org/10.1111/j.1468-0106.2009.00481.x

Motomichi Ikawa (Contact Author)

Nihon University - Graduate School of Business ( email )

Kudanminami 4-8-24
Chiyoda-ku
Tokyo 102-8275
Japan

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