IMF quotas: Constructing an international organization using inferior building blocks
AbstractThe International Monetary Fundâs structure and rules are based on the quota system that was constructed when the Fund was set up in 1946. Quotas affect contributions and resource availability at the Fund, access to resources, the distribution of Special Drawing Rights, and voting rights. Despite periodic reviews and modifications, the quota system has gradually been eroded and undermined. The fundamental problem is that a single system is attempting to serve four separate and incompatible functions. We illustrate how this erosion has taken place, and how an unreformed quota system will compromise the future operations of the IMF and the international monetary and financial system. Although the difficulties associated with reforming quotas are myriad and complex, the legacy of an unreformed quota system may be profoundly undesirable. We argue that a refined IMF structure must accommodate a clearer separation of a memberâs contributions to the IMF, its access to IMF resources, and its voting rights at the institution.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal The Review of International Organizations.
Volume (Year): 1 (2006)
Issue (Month): 2 (June)
Contact details of provider:
Web page: http://www.springer.com/business/sociology/journal/11558
Other versions of this item:
- Graham Bird & Dane Rowlands, 2005. "IMF Quotas; Constructing An International Organization Using Inferior Building Blocks," School of Economics Discussion Papers 1305, School of Economics, University of Surrey.
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Graham Bird & Dane Rowlands, 2002. "Do IMF Programmes Have a Catalytic Effect on Other International Capital Flows?," Oxford Development Studies, Taylor & Francis Journals, vol. 30(3), pages 229-249.
- Roland Vaubel, 1996. "Bureaucracy at the IMF and the World Bank: A Comparison of the Evidence," The World Economy, Wiley Blackwell, vol. 19(2), pages 195-210, 03.
- Vijay Kelkar & Vikash Yadav & Praveen Chaudhry, 2004. "Reforming the Governance of the International Monetary Fund," The World Economy, Wiley Blackwell, vol. 27(5), pages 727-743, 05.
- Graham Bird & Dane Rowlands, 2001. "Catalysis or Direct Borrowing: The Role of the IMF in Mobilising Private Capital," The World Economy, Wiley Blackwell, vol. 24(1), pages 81-98, 01.
- Joseph Joyce & Raul Razo-Garcia, 2011. "Reserves, quotas and the demand for international liquidity," The Review of International Organizations, Springer, vol. 6(3), pages 393-413, September.
- Axel Dreher & Jan-Egbert Sturm & James Raymond Vreeland, 2006.
"Does Membership on the UN Security Council Influence IMF Decisions? Evidence from Panel Data,"
CESifo Working Paper Series
1808, CESifo Group Munich.
- Axel Dreher & Jan-Egbert Sturm & James Raymond Vreeland, 2006. "Does membership on the UN Security Council influence IMF decisions? Evidence from panel data," KOF Working papers 06-151, KOF Swiss Economic Institute, ETH Zurich.
- Dreher, Axel & Sturm, Jan-Egbert & Vreeland, James Raymond, 2007. "Does membership on the UN Security Council influence IMF decisions? Evidence from panel data," Proceedings of the German Development Economics Conference, GÃ¶ttingen 2007 4, Verein für Socialpolitik, Research Committee Development Economics.
- Hernandez, Diego, 2013. "Does Inclusion Guarantee Institutional Autonomy? The Case of the Inter-American Development Bank," Working Papers 0541, University of Heidelberg, Department of Economics.
- Dreher, Axel & Sturm, Jan-Egbert & Vreeland, James Raymond, 2009. "Global horse trading: IMF loans for votes in the United Nations Security Council," European Economic Review, Elsevier, vol. 53(7), pages 742-757, October.
- Axel Dreher & Jan-Egbert Sturm & James Raymond Vreeland, 2007.
"Development Aid and International Politics: Does membership on the UN Security Council influence World Bank decisions?,"
KOF Working papers
07-171, KOF Swiss Economic Institute, ETH Zurich.
- Dreher, Axel & Sturm, Jan-Egbert & Vreeland, James Raymond, 2009. "Development aid and international politics: Does membership on the UN Security Council influence World Bank decisions?," Journal of Development Economics, Elsevier, vol. 88(1), pages 1-18, January.
- Martín Gonzalez-Eiras, 2009. "Quotas and Voting Shares in the IMF: Theory and Evidence," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(55), pages 57-91, July - Se.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.