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Reforming the Governance of the IMF and the World Bank (Anthem Frontiers of Global Political Economy and Development, 1) by Ariel Buira; Group of Twenty-four Research Program is a book available to read on EtoBox.

What is Reforming the Governance of the IMF and the World Bank (Anthem Frontiers of Global Political Economy and Development, 1) about?

Sixty years after their creation, the Bretton Woods institutions face a crisis of legitimacy that impairs their credibility and effectiveness. At the roots of this crisis lies the unrepresentative nature of their structure of governance, which places control of the institutions in the hands of a small group of industrial countries that do not use its resources. Developing countries and economies in transition are considered to be minor partners, despite accounting for half of the world's output in real terms, most of the world's population and encompassing the most dynamic economies and the largest holders of international reserves. The quota formulas should reflect the size of the economies of members, i.e. their GDP, their exposure to trade and capital movements as well as their ability to contribute to the Fund. If IMF quotas were based on objective measures, i.e. size of GDP, the volatility of receipts, the adjustment of European quotas for intra-trade and trade in a single currency in the euro area, the quota share of developing countries and economies in transition as a group should be no less than that of industrial countries. Reality has outpaced the evolution of thinking o

Author

Ariel Buira; Group of Twenty-four Research Program

Publisher

Chicago: Anthem Press

Published

2005

Language

EN

ISBN

9780857288189

Subjects

Economics, Finance, Management