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Reserves and Baskets
Journal article   Peer reviewed

Reserves and Baskets

Michael Bordo and Harold James
Open economies review, Vol.23(1), pp.113-127
02/2012

Abstract

Bancor Development Economics Economics / Management Science Ecus F02 F33 F55 International Economics International reserves Key currencies SDRs
We discuss three well known plans that were offered in the twentieth century to provide an artificial replacement for gold and key currencies as international reserves: Keynes’ Bancor, the SDR and the Ecu(predecessor to the euro).The latter two of these reserve substitutes were institutionalized but neither replaced the dollar as the principal medium of international reserve.

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