The governance of the International Monetary Fund
Since 1997, following the approval of the Guidance Note on Governance by the Executive Board, the IMF has given increased attention to governance issues in its member countries. In view of its influence, it is of interest to consider to what extent the Fund's own governance meets the standards...
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| Format: | Working paper |
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University of Oxford
2001
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| _version_ | 1826282146682109952 |
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| author | Buira, A |
| author_facet | Buira, A |
| author_sort | Buira, A |
| collection | OXFORD |
| description | Since 1997, following the approval of the Guidance Note on Governance by the Executive Board, the IMF has given increased attention to governance issues in its member countries. In view of its influence, it is of interest to consider to what extent the Fund's own governance meets the standards of transparency and accountability required for the good use of public resources. The paper reviews the power structure of the Fund, i.e. the distribution of quotas and the role of the Executive Board and of the staff and management in decision making. It finds that the concentration of power in a few countries impairs the transparency and political accountability of the Fund. It argues that as the changes in the world economy since the Bretton Woods Conference in 1944 have not been appropriately reflected in the quota structure some aspects of the system have become dysfunctional. |
| first_indexed | 2024-03-07T00:39:26Z |
| format | Working paper |
| id | oxford-uuid:82891e08-bcc8-4e3f-a4e6-fae2087a368e |
| institution | University of Oxford |
| last_indexed | 2024-03-07T00:39:26Z |
| publishDate | 2001 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:82891e08-bcc8-4e3f-a4e6-fae2087a368e2022-03-26T21:38:03ZThe governance of the International Monetary FundWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:82891e08-bcc8-4e3f-a4e6-fae2087a368eBulk import via SwordSymplectic ElementsUniversity of Oxford2001Buira, ASince 1997, following the approval of the Guidance Note on Governance by the Executive Board, the IMF has given increased attention to governance issues in its member countries. In view of its influence, it is of interest to consider to what extent the Fund's own governance meets the standards of transparency and accountability required for the good use of public resources. The paper reviews the power structure of the Fund, i.e. the distribution of quotas and the role of the Executive Board and of the staff and management in decision making. It finds that the concentration of power in a few countries impairs the transparency and political accountability of the Fund. It argues that as the changes in the world economy since the Bretton Woods Conference in 1944 have not been appropriately reflected in the quota structure some aspects of the system have become dysfunctional. |
| spellingShingle | Buira, A The governance of the International Monetary Fund |
| title | The governance of the International Monetary Fund |
| title_full | The governance of the International Monetary Fund |
| title_fullStr | The governance of the International Monetary Fund |
| title_full_unstemmed | The governance of the International Monetary Fund |
| title_short | The governance of the International Monetary Fund |
| title_sort | governance of the international monetary fund |
| work_keys_str_mv | AT buiraa thegovernanceoftheinternationalmonetaryfund AT buiraa governanceoftheinternationalmonetaryfund |