Global Economic Governance: IMF Quota Reform

Arvind Virmani
2011 IMF Working Papers  
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 21 st JEL Classification Numbers:F03, F33 century to examine the suitability of different variables in the IMF's Quota formula. Based on this analysis a simple
more » ... s 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. comments on an earlier draft.
doi:10.5089/9781463902186.001 fatcat:hgi3zbnj4rcpxmftpm3xcob3uy