Reforming the IMF for the 21st century / / Edwin M. Truman, editor

• Pubblicazione: Washington, DC, : Institute for International Economics, c2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (574 p.)
• Disciplina: 332.1/52
• Soggetto topico: Financial institutions, International; International finance
• Altri autori: TrumanEdwin M
• Note generali: "April 2006."
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Cover -- Contents -- Preface -- Acknowledgments -- Chapter 1 Introduction and Summary -- The IMF and the International Monetary System -- Governance of the IMF -- IMF Lending Facilities -- IMF Financial Resources -- References -- Chapter 2 Overview on IMF Reform -- IMF Activities and Reform Efforts -- The IMF's Role in the International Monetary System -- Governance -- Lending Facilities -- Financial Resources -- Concluding Remarks -- References -- Chapter 3 The IMF View on IMF Reform -- Chapter 4 The IMF: Back to Basics -- Quota and Representation Reform -- Exchange Rate Surveillance -- Public Debt Sustainability -- Crisis Resolution -- Low-Income Countries -- Conclusion -- I THE IMF AND THE INTERNATIONAL MONETARY SYSTEM -- Chapter 5 Currency Manipulation and Enforcing the Rules of the International Monetary System -- Discouraging Beggar-Thy-Neighbor Exchange Rate Policies -- Fallacies about Currency Manipulation -- Enforcing the Rules: The IMF as an Umpire for the Exchange Rate System -- A Modest Proposal for Discouraging Currency Manipulation -- References -- Chapter 6 Revamping the International Monetary System -- Reference Rates -- Selecting the Reference Rates -- Uses of Reference Rates -- Another Potential Fund Role -- Concluding Remarks -- References -- Chapter 7 Regional Arrangements and the International Monetary Fund -- Regional Monetary and Financial Arrangements -- Membership -- Surveillance -- Principles for Regional Facilities -- Objections and Responses -- Conclusions -- References -- Chapter 8 The IMF and the Capital Account -- The Capital Account and Articles of Agreement -- Evolution of the IMF's Approach to the Capital Account -- Conclusions and Recommendations -- References -- II GOVERNANCE OF THE IMF -- Chapter 9 Rearranging IMF Chairs and Shares: The Sine Qua Non of IMF Reform. ; Chairs--Representation on the IMF Executive Board -- Shares--Voting Power -- Conclusion -- References -- Chapter 10 IMF Governance and the Political Economy of a Consolidated European Seat -- Measuring Voting Power -- Voting Power in the IMF -- Toward a Single EU-Euro Area Seat -- Conclusions -- References -- Appendix 10A -- Chapter 11 Internal Governance and IMF Performance -- Limiting the Power of Large Shareholders -- Management and Staff: Qualifications and Capacity -- Legitimacy and Effectiveness at the IMF -- References -- Chapter 12 A Latin American View of IMF Governance -- Governance Issues on Trade and Financial Regulation -- IMF Governance and Performance -- Concluding Remarks -- Chapter 13 A New Steering Committee for the World Economy? -- The Basic Problem -- The (Il)legitimacy of the G-7 -- The Reform Options -- Evolution or Big Bang? -- What Difference Would It Make? -- III IMF LENDING FACILITIES -- Chapter 14 The Case for a Lender-of-Last-Resort Role for the IMF -- LLR Lending and Repayment -- LLR Results -- The Resources Issue -- The Global Environment in the 1990s Versus Today -- The Impact of Argentina -- The Sovereign Debt Restructuring Mechanism -- Collective Action Clauses, Codes, and Private-Sector Involvement -- Principles for Future Policy -- References -- Chapter 15 The Case Against the IMF as a Lender of Final Resort -- Compromise or Compromised? -- Assessing the Case for Large-Scale IMF Lending -- Policy Conclusions -- References -- Chapter 16 A Stability and Social Investment Facility for High-Debt Countries -- Debt Burden in a Group of Emerging-Market Economies -- A Bretton Woods Stability and Social Investment Facility for Highly Indebted Emerging-Market Economies -- References -- Chapter 17 The Case for an IMF Insurance Facility -- Available Insurance Options -- A New Country Insurance Facility -- Final Remarks. ; References -- Chapter 18 A Shock-Smoothing Facility for the IMF -- Structure of the SSF -- Impact of the SSF on Borrowing Countries and on the IMF -- Questions about the SSF -- Final Thoughts -- References -- Chapter 19 The Policy Support Instrument: A Key Component of the Recent IMF Reform Movement -- Advantages of a Nonborrowing Program -- Concerns about Nonborrowing Programs -- The PSI as Part of a Broader IMF Reform Movement -- International Cooperation in Implementing and Internalizing the Reforms -- Chapter 20 IMF Facilities for Poststabilization Low-Income Countries -- All Low-Income Countries Are Not Alike -- IMF Facilities in Mature Poststabilization Countries -- Increasing Flexibility in PRGF and PSI Programs -- Should the IMF Provide Grants? -- Conclusions -- References -- Chapter 21 Reflections on the Function and Facilities for IMF Lending -- The Purpose of IMF General Resources Lending -- The Flexible Stand-By Arrangement and Other Fund Facilities -- Concessional Lending Facilities -- Conclusion -- References -- IV IMF FINANCIAL RESOURCES -- Chapter 22 Does the IMF Need More Financial Resources? -- Conditionality -- The Hardening of Conditionality -- Conclusions -- References -- Chapter 23 How Should IMF Resources Be Expanded? -- Sources of the IMF's Resources -- The IMF's Lending Operations and Interest Charges -- The Cost of Subsidized IMF Lending -- Private-Sector Borrowing -- Gold Sales -- Streamlining the IMF -- References -- Chapter 24 Is the SDR a Monetary Dodo? This Bird May Still Fly -- Still Alive and Kicking -- A Looming Dollar Crisis? -- Does the SDR Have a Role in a Meltdown Scenario? -- Conclusion -- References -- V MOVING FORWARD -- Chapter 25 The IMF Adrift on a Sea of Liquidity -- References -- Chapter 26 IMF Reform: Attaining the Critical Mass -- A Simplified Characterization--The Global "Stable Disequilibrium. ; The IMF's Role--Actual and Desirable -- Specifying the Deliverables -- Some Operational Aspects -- Concluding Remarks -- References -- Chapter 27 The IMF in Perspective -- Chapter 28 IMF Reform: A Chinese View -- Chapter 29 An IMF Reform Package -- Substantial Progress on IMF Governance -- Policies of Systemically Important Members -- Central Role of the Fund in External Financial Crises -- Refocused Engagement with Low-Income Members -- Attention to the Capital Account and the Financial Sector -- Additional Financial Resources -- Final Comments -- References -- About the Contributors -- Index.
• Titolo autorizzato: Reforming the IMF for the 21st century
• ISBN: 1-281-06098-4; 9786611060985; 0-88132-441-8; 1-4356-0912-3
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910811932203321
• Lo trovi qui: Univ. Federico II
• Serie: Special reports (Institute for International Economics (U.S.)) ; ; 19.