IDEAS home Printed from https://ideas.repec.org/p/zbw/diedps/152012.html
   My bibliography  Save this paper

The need and scope for strengthening co-operation between regional financing arrangements and the IMF

Author

Listed:
  • Volz, Ulrich

Abstract

This article makes the case for strengthening co-operation between regional financing arrangements (RFAs) and the International Monetary Fund (IMF), and examines ways to do so. It argues that ex ante co-operation between RFAs and the IMF is needed to reduce the risk of co-operation failing in the middle of a crisis, to help avoid “forum shopping” and institutional arbitrage, to prevent weakening the IMF’s role as the guardian of global financial stability, to minimise duplication, and to generate mutual benefits from a division of labour and specialisation based on the comparative advantages of the respective institutions. It calls for guidelines for organising the inter-institutional relations between the IMF and RFAs, a clear division of labour in crisis lending, and co-operation and exchange in surveillance and analysis. Co-operation with RFAs should be seen as a chance for the IMF to overcome its stigmatisation, strengthen its global role and ensure its continued relevance.

Suggested Citation

  • Volz, Ulrich, 2012. "The need and scope for strengthening co-operation between regional financing arrangements and the IMF," IDOS Discussion Papers 15/2012, German Institute of Development and Sustainability (IDOS).
    • Handle: RePEc:zbw:diedps:152012
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/199384/1/die-dp-2012-15.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Becker, Bastian & Fischer, Doris, 2013. "Promoting renewable electricity generation in emerging economies," Energy Policy, Elsevier, vol. 56(C), pages 446-455.
    2. Koch, Svea, 2012. "From poverty reduction to mutual interests? The debate on differentiation in EU development policy," IDOS Discussion Papers 13/2012, German Institute of Development and Sustainability (IDOS).
    3. Gehrke, Esther, 2012. "Short-term effects of the global economic and financial crisis on households in three developing countries: the cases of El Salvador, Tajikistan and Cambodia," IDOS Discussion Papers 11/2012, German Institute of Development and Sustainability (IDOS).
    4. Breuer, Anita, 2012. "The role of social media in mobilizing political protest: evidence from the Tunisian revolution," IDOS Discussion Papers 10/2012, German Institute of Development and Sustainability (IDOS).
    5. Klingebiel, Stephan, 2012. "Results-Based Aid (RBA): new aid approaches, limitations and the application to promote good governance," IDOS Discussion Papers 14/2012, German Institute of Development and Sustainability (IDOS).
    6. Altenburg, Tilman & Engelmeier, Tobias, 2012. "Rent management and policy learning in green technology development: the case of solar energy in India," IDOS Discussion Papers 12/2012, German Institute of Development and Sustainability (IDOS).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:ecb:ecbops:2018207 is not listed on IDEAS
    2. Cheng, Gong & Lennkh, Rudolf Alvise, 2018. "RFAs' Financial Structures and Lending Capacities: a Statutory, Accounting and Credit Rating Perspective," MPRA Paper 95754, University Library of Munich, Germany.
    3. Andone, Irina & Scheubel, Beatrice, 2019. "Once bitten: new evidence on the link between IMF conditionality and IMF stigma," Working Paper Series 2262, European Central Bank.
    4. Ulrich Volz, 2013. "Lessons of the European crisis for regional monetary and financial integration in East Asia," Asia Europe Journal, Springer, vol. 11(4), pages 355-376, December.
    5. Ulrich volz, 2012. "Strengthening Cooperation between Regional Financing," Papers and Proceedings 11855, Fondo Latino Americano de Reservas - FLAR.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Holzapfel, Sarah & Janus, Heiner, 2015. "Improving education outcomes by linking payments to results: an assessment of disbursement-linked indicators in five results-based approaches," IDOS Discussion Papers 2/2015, German Institute of Development and Sustainability (IDOS).
    2. Lee, Keun & Juma, Calestous & Mathews, John, 2014. "Innovation capabilities for sustainable development in Africa," WIDER Working Paper Series 062, World Institute for Development Economic Research (UNU-WIDER).
    3. Masebinu, S.O. & Akinlabi, E.T. & Muzenda, E. & Aboyade, A.O., 2017. "Techno-economics and environmental analysis of energy storage for a student residence under a South African time-of-use tariff rate," Energy, Elsevier, vol. 135(C), pages 413-429.
    4. Arild Angelsen, 2017. "REDD+ as Result-based Aid: General Lessons and Bilateral Agreements of Norway," Review of Development Economics, Wiley Blackwell, vol. 21(2), pages 237-264, May.
    5. Mayr, Dieter & Schmid, Erwin & Trollip, Hilton & Zeyringer, Marianne & Schmidt, Johannes, 2015. "The impact of residential photovoltaic power on electricity sales revenues in Cape Town, South Africa," Utilities Policy, Elsevier, vol. 36(C), pages 10-23.
    6. Kylili, Angeliki & Fokaides, Paris A., 2015. "Competitive auction mechanisms for the promotion renewable energy technologies: The case of the 50MW photovoltaics projects in Cyprus," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 226-233.
    7. Arild Angelsen, 2013. "REDD+ as Performance-Based Aid: General Lessons and Bilateral Agreements of Norway," WIDER Working Paper Series wp-2013-135, World Institute for Development Economic Research (UNU-WIDER).
    8. Cassetta, Ernesto & Monarca, Umberto & Nava, Consuelo Rubina & Meleo, Linda, 2017. "Is the answer blowin' in the wind (auctions)? An assessment of the Italian support scheme," Energy Policy, Elsevier, vol. 110(C), pages 662-674.
    9. Barroco, Jose & Herrera, Maria, 2019. "Clearing barriers to project finance for renewable energy in developing countries: A Philippines case study," Energy Policy, Elsevier, vol. 135(C).
    10. Awijen, Haithem & Belaïd, Fateh & Zaied, Younes Ben & Hussain, Nazim & Lahouel, Béchir Ben, 2022. "Renewable energy deployment in the MENA region: Does innovation matter?," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    11. Rudolph, Alexandra, 2017. "The concept of SDG-sensitive development cooperation: implications for OECD-DAC members," IDOS Discussion Papers 1/2017, German Institute of Development and Sustainability (IDOS).
    12. Simplice A. Asongu & Ndemaze Asongu, 2019. "The Role of Mobile Phones in Governance-Driven Technology Exports in Sub-Saharan Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(2), pages 849-867, June.
    13. Cardenas, J. C. & Jaramillo, F & León, D & López, M. & Rodríguez, M & Zuleta, H, 2021. "With a little help from my friends: Debt Renegotiation and Climate Change," Documentos de Trabajo 19732, Universidad del Rosario.
    14. Shrimali, Gireesh & Konda, Charith & Farooquee, Arsalan Ali & Nelson, David, 2015. "Reaching India’s Renewable Energy Targets:Effective Project Allocation Mechanisms," MPRA Paper 71211, University Library of Munich, Germany.
    15. Dobrotkova, Zuzana & Surana, Kavita & Audinet, Pierre, 2018. "The price of solar energy: Comparing competitive auctions for utility-scale solar PV in developing countries," Energy Policy, Elsevier, vol. 118(C), pages 133-148.
    16. Pegels, Anna & Lütkenhorst, Wilfried, 2014. "Is Germany׳s energy transition a case of successful green industrial policy? Contrasting wind and solar PV," Energy Policy, Elsevier, vol. 74(C), pages 522-534.
    17. Heshmati, Almas & Kim, Jungsuk, 2014. "A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth," IZA Discussion Papers 8119, Institute of Labor Economics (IZA).
    18. Francis Kemausuor & Muyiwa S. Adaramola & John Morken, 2018. "A Review of Commercial Biogas Systems and Lessons for Africa," Energies, MDPI, vol. 11(11), pages 1-21, November.
    19. Asongu, Simplice A. & Odhiambo, Nicholas M., 2019. "Governance and social media in African countries: An empirical investigation," Telecommunications Policy, Elsevier, vol. 43(5), pages 411-425.
    20. Sahoo, Anshuman & Shrimali, Gireesh, 2013. "The effectiveness of domestic content criteria in India's Solar Mission," Energy Policy, Elsevier, vol. 62(C), pages 1470-1480.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:diedps:152012. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/ditubde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.