Cover IMF Working Papers
Global Economic Governance: IMF Quota Reform
Author:
Mr. Arvind Virmani
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Series:
IMF Working Papers
Volume/Issue:
Volume 2011: Issue 208
Language:
English
Publication Date:
01 Aug 2011
DOI:
https://doi.org/10.5089/9781463902186.001
ISBN:
9781463902186
ISSN:
1018-5941
Pages:
22
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
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2011: Issue 208