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Global Economic Governance: IMF Quota Reform

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  • Mr. Arvind Virmani

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.

Suggested Citation

  • Mr. Arvind Virmani, 2011. "Global Economic Governance: IMF Quota Reform," IMF Working Papers 2011/208, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2011/208
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    References listed on IDEAS

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    1. Richard N. Cooper & Edwin M. Truman, 2007. "The IMF Quota Formula: Linchpin of Fund Reform," Policy Briefs PB07-1, Peterson Institute for International Economics.
    2. Mr. Abbas Mirakhor & Mr. Iqbal Mehdi Zaidi, 2006. "Rethinking the Governance of the International Monetary Fund," IMF Working Papers 2006/273, International Monetary Fund.
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    Cited by:

    1. repec:cpn:umkeip:2012:v3:p:13-30 is not listed on IDEAS
    2. V. Kuznetsova V. & В. Кузнецова В., 2016. "Мировая валютная система: проблемы и пути реформирования // International monetary system: issues and areas of reforms," Мир новой экономики // The world of new economy, Финансовый университет при Правительстве Российской Федерации // Financial University under The Governtment оf The Russian Federation, issue 3, pages 38-47.
    3. Dorota Zuchowska, 2012. "The evolution of the contemporary international monetary system – integration or disintegration?," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 10(3), pages 13-30, September.

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