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IMF quotas: Constructing an international organization using inferior building blocks

Bird, G and Rowlands, D (2006) IMF quotas: Constructing an international organization using inferior building blocks Review of International Organizations, 1 (2). pp. 153-171.

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The International Monetary Fund's structure and rules are based on the quota system that was constructed when the Fund was set up in 1946. Quotas affect contributions and resource availability at the Fund access to resources the distribution of Special Drawing Rights and voting rights. Despite periodic reviews and modifications the quota system has gradually been eroded and undermined. The fundamental problem is that a single system is attempting to serve four separate and incompatible functions. We illustrate how this erosion has taken place and how an unreformed quota system will compromise the future operations of the IMF and the international monetary and financial system. Although the difficulties associated with reforming quotas are myriad and complex the legacy of an unreformed quota system may be profoundly undesirable. We argue that a refined IMF structure must accommodate a clearer separation of a member's contributions to the IMF its access to IMF resources and its voting rights at the institution. © Springer Science + Business Media, LLC 2006.

Item Type: Article
Divisions : Surrey research (other units)
Authors :
Rowlands, D
Date : 1 June 2006
DOI : 10.1007/s11558-006-8342-x
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:08
Last Modified : 24 Jan 2020 13:58

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