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Does the World Need a Universal Financial Institution?

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  • Mr. James M. Boughton

Abstract

All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its geographic scope, prepared to lend on request to virtually any country in the world. Why has this status come about? What are its costs and benefits? Is it an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?

Suggested Citation

  • Mr. James M. Boughton, 2005. "Does the World Need a Universal Financial Institution?," IMF Working Papers 2005/116, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2005/116
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=18251
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    References listed on IDEAS

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    Cited by:

    1. Yilmaz AKYüZ, 2005. "Reforming The Imf: Back To The Drawing Board," G-24 Discussion Papers 38, United Nations Conference on Trade and Development.

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