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Emerging Powers and Global Governance: Whither the IMF?

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  • Rakesh Mohan
  • Muneesh Kapur

Abstract

The governance structure in global bodies like the IMF continues to be disproportionally dominated by advanced economies. Sustained rapid growth in emerging and developing economies (EDEs) in the past 2-3 decades has led to their growing relative weight in the global economy, but with little increase in their voice in the IMF. The emergence of regional financial arrangements reflects the growing dissatisfaction of the EDEs with the current framework. The global economy is on the cusp of an epochal change moving the fulcrum of economic power from the North Atlantic towards Asia after more than 200 years. This must be recognized and responded to adequately.

Suggested Citation

  • Rakesh Mohan & Muneesh Kapur, 2015. "Emerging Powers and Global Governance: Whither the IMF?," IMF Working Papers 2015/219, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2015/219
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    Cited by:

    1. Wasim ul Rehman & Suleyman Degirmen & Fareeha Waseem, 2022. "Propensity for and Quality of Intellectual Capital Divulgence Across the BRICS Banking Sector: A Knowledge-Based Perspective from Emerging Economies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1028-1055, June.
    2. Marco Buti, 2016. "Europe in the new global economic governance: can we still make a difference?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 33(2), pages 119-127, August.
    3. Suman Bery & Filippo Biondi & Sybrand Brekelmans, 2019. "Twenty years of the G20: Has it changed global economic governance?," Russian Journal of Economics, ARPHA Platform, vol. 5(4), pages 412-440, December.

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