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Does the World Need a Universal Financial Institution?

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  • James 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 truly 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

  • James Boughton, 2005. "Does the World Need a Universal Financial Institution?," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 6(2), pages 27-46, April.
  • Handle: RePEc:wej:wldecn:206
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    File URL: http://www.world-economics-journal.com/Contents/ArticleOverview.aspx?ID=206
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    Cited by:

    1. Yilmaz AKY├╝Z, 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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