Overview
The Initiative for Policy Dialogue (IPD) and the Institute of Global Politics (IGP) at Columbia University, the Center for Economic and Policy Research (CEPR) in Washington D.C., and the Global Development Policy Center at Boston University (GDPC) will host a workshop on “The Role of SDRs for Global Stability and Sustainable Economic Transformation,” on December 5, 2025.
Special Drawing Rights (SDRs) are interest-bearing international reserve assets created by the IMF in 1969 to supplement member countries’ reserves and support global liquidity. Although their role was expanded in 1978 to become the “principal reserve asset,” allocations remained limited until the 2009 financial crisis and again in response to COVID-19. The 2021 allocation was the largest in history. However, its use has only been partial due to different constraints.
We invite papers that critically assess the SDR system and how to improve its effectiveness, especially for developing countries. Submissions may examine legal and institutional constraints at both domestic and international levels and explore what reforms are needed to enable SDRs to play their intended role in supporting sustainable, counter-cyclical financing. We welcome papers grounded in economic theory or empirical work, particularly those offering innovative, actionable insights. Selected papers will be considered for a special issue of the Journal of Globalization and Development. The deadline for submissions is September 15, 2025. Please send all paper submissions to: ipd@gsb.columbia.edu.
This workshop will be held on Friday, December 5, 2025, at the School of International and Public Affairs (SIPA) at Columbia University, Room 1501.
The scientific committee for the event is: Jeronim Capaldo (United Nations Conference on Trade and Development); Kevin Gallagher (Boston University, GDPC); Martin Guzman (Columbia University SIPA, IPD); José Antonio Ocampo (Columbia University SIPA); Joseph E. Stiglitz (Columbia University, IPD); Marina Zucker Marques (Boston University GDPC); Mark Weisbrot (CEPR).
If you have questions, please contact Ola David of IPD at od2296@gsb.columbia.edu. We look forward to seeing your submissions and hope to see many of you at the conference.