Empowering the IMF: Should Reform be a Requirement for Increasing the Fund's Resources?

This file is part of IDEAS, which uses RePEc data

Empowering the IMF: Should Reform be a Requirement for Increasing the Fund's Resources?

Author Info

Mark Weisbrot
Jose Cordero
Luis Sandoval

Additional information is available for the following registered author(s):

Abstract

This paper briefly reviews the IMF’s current practices and policy-making in the context of a proposed quadrupling of IMF resources to $1 trillion dollars, and a consequent increase in the Fund’s influence over economic policy-making in developing countries. It finds that the IMF is still prescribing inappropriate policies that could unnecessarily exacerbate economic downturns in a number of countries. The paper concludes that these pro-cyclical policies can exacerbate the world economic downturn. Perhaps more importantly, the re-establishment of the IMF as a major power in economic and decision-making in low-and-middle income countries, with little or no voice for these countries in the IMF’s decision-making, could have long-term implications for growth, development, and social indicators in many countries. The authors propose some reforms in the areas of governance and accountability to be attached of funding increases, in order to help prevent adverse outcomes.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. 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.

Publisher Info
Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2009-15.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 26 pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:epo:papers:2009-15

Contact details of provider:
Postal: 1611 Connecticut Ave, NW Suite 400, Washington, DC 20009
Phone: (202) 293-5380
Fax: (202) 588 1356
Email:
Web page: http://www.cepr.net/
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: ().

Related research
Keywords: IMF;

Find related papers by JEL classification:
F - International Economics
F1 - International Economics - - Trade
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
F2 - International Economics - - International Factor Movements and International Business
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F3 - International Economics - - International Finance
F31 - International Economics - - International Finance - - - Foreign Exchange
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
F34 - International Economics - - International Finance - - - International Lending and Debt Problems
F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation
F5 - International Economics - - International Relations and International Political Economy
F53 - International Economics - - International Relations and International Political Economy - - - International Agreements and Observance; International Organizations
F54 - International Economics - - International Relations and International Political Economy - - - Colonialism; Imperialism; Postcolonialism
F55 - International Economics - - International Relations and International Political Economy - - - International Institutional Arrangements

This paper has been announced in the following NEP Reports:

NEP-ALL-2009-05-30 (All new papers)
NEP-DEV-2009-05-30 (Development)
NEP-PKE-2009-05-30 (Post Keynesian Economics)

Statistics

Access and download statistics

Did you know? The yearly budget of IDEAS is exactly $0: it relies entirely on volunteer work.

This page was last updated on 2009-11-14.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.