Reserves and Baskets

Michael D. Bordo, Harold James

Research output: Contribution to journalArticlepeer-review

5 Scopus citations


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.

Original languageEnglish (US)
Pages (from-to)113-127
Number of pages15
JournalOpen Economies Review
Issue number1
StatePublished - Feb 2012

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics


  • Bancor
  • Ecus
  • International reserves
  • Key currencies
  • SDRs


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