Call for Papers: The Role of Special Drawing Rights for Global Stability and Sustainable Economic Transformation

The Boston University Global Development Policy Center, the Initiative for Policy Dialogue (IPD) and Institute of Global Politics (IGP) at Columbia University and the Center for Economic and Policy Research (CEPR) in Washington, D.C. 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 22, 2025. Please send all paper submissions to: ipd@gsb.columbia.edu.