Global Economic Governance: IMF Quota Reform

August 1, 2011

Preview Citation

Format: Chicago

Arvind Virmani. Global Economic Governance: IMF Quota Reform, (USA: International Monetary Fund, 2011) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper examines the principles on which a reform of a Quota based global economic institution like the IMF must be based, taking account of both the relative economic power of countries and the need for voice and representation of the poor countries. These principles are then used in the context of the global economic realities of the 21st century to examine the suitability of different variables in the IMF.s Quota formula. Based on this analysis a simple transparent formula is suggested, which will help increase the credibility and legitimacy of the IMF as a global macroeconomic and financial institution.

Subject: Balance of payments, Capital flows, Exchange rates, Financial crises, Foreign exchange, Market exchange rates, Purchasing power parity

Keywords: Blend value ranking, Capital flows, Country, Country population share, Country share, Country's contribution, Economic growth, Economic Sovreignity, Economy, Exchange rates, GDP PPP, GDP share, Global, Governance, IMF projection, IMF WEO growth projection, IMFS mandate, IMFS objective, International Monetary Fund (IMF), Market exchange rates, Population share, Purchasing power parity, Quota formula, Quota Reform, Quota share, Share, Voice, WP

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2011/208
Stock No:

WPIEA2011208
ISBN:

9781463902186
ISSN:

1018-5941

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