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Emerging Markets In Theinternational Monetaryfund: A Proposition Of A New Quota-Formula

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  • Fernando Ribeiro Leite Neto

    (Pontifícia Universidade Católica de SãoPaulo (PUC-SP); Universidade Presbiteriana Mackenzie (UPM))

Abstract

The article proposes a new quota-formula that intends to improve governancewithin the International Monetary Fund. Quotas are important because theydefine, among other issues, voting power. The quota-formula proposed includesGDP measured in Purchase Power Parity (PPP) as the most important variable.Current account is introduced in the quota-formula by its standard deviationover a 12-year average. Stock of international reserves is the last variable in thequota-formula. Results show a decline in the quota-share as well as in voting-share of developed countries. Selected emerging markets would see a rise both inquota-share and in voting-share.

Suggested Citation

  • Fernando Ribeiro Leite Neto, 2006. "Emerging Markets In Theinternational Monetaryfund: A Proposition Of A New Quota-Formula," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 4(4), pages 53-62, january-d.
    • Handle: RePEc:aft:journl:v:4:4:2006:jan:dec:p:53-62
    DOI: -
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