Current research discusses various general frameworks for installing an international lender of last resort (ILOLR). However, it remains unclear how the ILOLR should actually operate. This paper discusses six different options of construction of an ILOLR who supports central banks in the case of...

Abstract This is the 2008 Edition of one of only two book in print in the world about the Single Global Currency, and is the only book in the world priced in 141 currencies (down from 147 in the 2006 edition.).This number is significant, as it's the number of currencies required among the 192...

The 1990s have witnessed an increase of international financial turbulence. Indeed, the frequency, the size, the geographic extension, and the social costs of financial crises have made the topic a global policy issue. An array of policy actions have been advocated to prevent crises from...

This paper addresses two central questions for Asia and the world: (1) What is the purpose of Asian regional policy coordination going forward? (2) Will Asian regional policy coordination substitute or complement global policy coordination? The paper examines the potential coverage and content...

This paper addresses the agenda for the Group of Twenty (G-20) leaders' meeting in Seoul, Korea in November 2010. This is an opportunity and challenge for Asian leaders in particular. Their test will be, first, to demonstrate that they can responsibly advance economic recovery. They must also...

Despite its promising start in 1946-47, the new IMF soon ceased to fulfil its expected role for almost nine years. An exploration is provided for the latter in the wider context of international economic cooperation. It was not until 1961 that the Fund's intended status as 'the focal point of...

Despite its promising start in 1946-47, the new IMF soon ceased to fulfil its expected role for almost nine years. An exploration is provided for the latter in the wider context of international economic cooperation. It was not until 1961 that the Fund's intended status as 'the focal point of...

This paper updates economic size rankings and quota formulas derived from the principal components approach to quota formulation at the IMF developed by Nguéma-Affane (2008). Using available annual sets of quota data up to 2011, the paper shows that the top 10 countries remained broadly stable...

At the request of the Managing Director of the IMF, a group of experts, chaired by Professor Richard Cooper of Harvard University prepared a report on the adequacy of quota formulas, including proposals for changes. The paper reviews the recommendations of the Quota Formula Review Group and...

This paper explains the evolution of the International Monetary Fund’s mandate and discusses its role in supporting countries experiencing a macroeconomic crisis. We consider the conditionality attached to its loans and why it is convenient in some regards. Even though its operations and...