Global Economic Governance: IMF Quota Reform

Arvind Virmani

No 2011/208, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; country; economy; quota formula; share; blend value ranking; economic growth; GDP PPP; Governance; Quota Reform; Economic Sovreignity; Voice; International Monetary Fund (IMF); GDP share; IMF WEO growth projection; IMFS mandate; country share; country's contribution; country population share; IMFS objective; quota share; IMF projection; population share; Purchasing power parity; Market exchange rates; Exchange rates; Capital flows; Global (search for similar items in EconPapers)
Pages: 22
Date: 2011-08-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25198 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2011/208

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().