EMERGING MARKETS IN THEINTERNATIONAL MONETARYFUND: A PROPOSITION OF A NEW QUOTA-FORMULA

Fernando Ribeiro Leite Neto ()

Revista de Economia Mackenzie (REM), 2006, vol. 4, issue 4, 53-62

Abstract: The article proposes a new quota-formula that intends to improve governancewithin the International Monetary Fund. Quotas are important because theydefine, among other issues, voting power. The quota-formula proposed includesGDP measured in Purchase Power Parity (PPP) as the most important variable.Current account is introduced in the quota-formula by its standard deviationover a 12-year average. Stock of international reserves is the last variable in thequota-formula. Results show a decline in the quota-share as well as in voting-share of developed countries. Selected emerging markets would see a rise both inquota-share and in voting-share.

Keywords: International Monetary Fund; Quota-formula; Emerging markets. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:aft:journl:v:4:4:2006:jan:dec:p:53-62

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