Should the IMF Become More Adaptive?

Ian Clark

No 1996/017, IMF Working Papers from International Monetary Fund

Abstract: This paper addresses the question: Should the International Monetary Fund be making an even greater effort to adapt its objectives, priorities, rules, instruments, procedures, and resources to take account of changes in the global economic environment and in the needs of its members? It reviews the changes in the economic and geopolitical environment most relevant to the Fund and the ways the institution has adapted to date. It identifies the general factors that tend to inhibit adaptation in international institutions, and some of the specific factors that can facilitate adaptation in the case of the Fund. It concludes that the Fund should, indeed, be making even greater efforts to adapt, but that efforts in this regard should take account of the identified factors.

Keywords: WP; IMF strength; exchange rate; IMF membership; IMF management; decision-making system; IMF decision-making process; IMF staff; rewards state; fund mission; IMF practice; Mexican peso; Currencies; Exchange rates; Exchange rate flexibility; Global (search for similar items in EconPapers)
Pages: 60
Date: 1996-02-01
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Citations: View citations in EconPapers (2)

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