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The Principal Components Approach To Quota Formulation At The Imf

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Author Info
Nguéma-Affane, Thierry
Abstract

This paper explores and supports the use of the principal components analysis to objectively establish countries’ relative economic size and determine variables’ weights in a new IMF quota formula. This approach shows a rebalancing of quotas shares in favor of developing countries over time but suggests that PCA-generated quota formulas can only guide and not determine IMF quota structure. The simulation of ad hoc quota increases using PCA-generated quota formulas indicates that a rebalancing of actual quota shares and voting power in favor of developing countries, while preserving low-income countries voting share, is achievable if advanced economies forego increases in their quotas and total basic votes are at least tripled.

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File URL: http://mpra.ub.uni-muenchen.de/7618/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7618.

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Date of creation: 10 Mar 2008
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Handle: RePEc:pra:mprapa:7618

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Keywords: International Monetary Fund Quota Formula Principal Components Analysis

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Find related papers by JEL classification:
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F53 - International Economics - - International Relations and International Political Economy - - - International Agreements and Observance; International Organizations
C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Other
F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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  4. Roberto Fontana & Aldo Geuna & Mireille Matt, 2003. "Firm Size and Openness: the Driving Forces of University-Industry Collaboration," SPRU Electronic Working Paper Series 103, University of Sussex, SPRU - Science and Technology Policy Research. [Downloadable!]
  5. James D. Adams & Eric P. Chiang & Katara Starkey, 2000. "Industry-University Cooperative Research Centers," NBER Working Papers 7843, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Ron Martin & Peter Sunley, 2002. "Deconstructing Clusters: Chaotic Concept or Policy Panacea," ESRC Centre for Business Research - Working Papers wp244, ESRC Centre for Business Research. [Downloadable!]
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This page was last updated on 2008-11-18.

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