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Imf’S Reforms And Brics’ New International Financial Institutions: Progress And Policies

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  • Zhang Jiaming

    (Fudan University, China)

Abstract

The progress on the IMF’s reform has stalled. Comparing with substitutive alternatives, an interim solution, that is either delinking or ad hoc increases in quotas, could be the best choice among the bad options at present. Because of the maintenance of de facto veto and voting dominance pursued by the US, the prospect of further reforms in the IMF is dim. BRICS members are developing new international financial institutions not only in order to meet their own economic demands, but also to push the IMF reform forward. An idea on all-win pattern of competition is provided in this article to refer to the policies BRICS can adopt

Suggested Citation

  • Zhang Jiaming, 2015. "Imf’S Reforms And Brics’ New International Financial Institutions: Progress And Policies," Romanian Economic Business Review, Romanian-American University, vol. 10(3), pages 133-149, September.
    • Handle: RePEc:rau:journl:v:10:y:2015:i:3:p:133-149
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    References listed on IDEAS

    as
    1. Edwin M. Truman, 2006. "Reforming the IMF for the 21st Century," Peterson Institute Press: All Books, Peterson Institute for International Economics, number sr19, October.
    2. Edwin M. Truman (ed.), 2006. "Reforming the IMF for the 21st Century," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3870, October.
    3. Edwin M. Truman, 2015. "What Next for the IMF?," Policy Briefs PB15-1, Peterson Institute for International Economics.
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