Reforming the IMF for the 21st Century
edited by Edwin M. Truman (PIIE)
Book Description
Body
Based on a conference held in September 2005 on the future of the International Monetary Fund, this important new book includes an overview of the challenges facing the IMF today. In addition, the authors offer a wide range of views on four areas: the international monetary system and the IMF (with an emphasis on enforcing and reforming the rules), governance (including representation), financial resources (the need for additional resources and how they should be supplied), and financing (including the role of IMF financing and the need for new facilities).
Contents
Selected chapters and sections are provided for preview only.
Preface
Acknowledgments
1. Introduction and Summary
Edwin M. Truman
2. Overview on IMF Reform
Edwin M. Truman
3. The IMF View on IMF Reform
Rodrigo de Rato
4. The IMF: Back to Basics
Timothy D. Adams
I The IMF and the International Monetary System
5. Currency Manipulation and Enforcing the Rules of the International Monetary System
Morris Goldstein
6. Revamping the International Monetary System
John Williamson
7. Regional Arrangements and the International Monetary Fund
C. Randall Henning
8. The IMF and the Capital Account
Rawi Abdelal
II Governance of the IMF
9. Rearranging IMF Chairs and Shares: The Sine Qua Non of IMF Reform
Edwin M. Truman
10. IMF Governance and the Political Economy of a Consolidated European Seat
Lorenzo Bini Smaghi
11. Internal Governance and IMF Performance
Miles Kahler
12. A Latin American View of IMF Governance
Martin Redrado
13. A New Steering Committee for the World Economy?
C. Fred Bergsten
III IMF Lending Facilities
14. The Case for a Lender-of-Last-Resort Role for the IMF
William R. Cline
15. The Case Against the IMF as a Lender of Final Resort
Gregor Irwin and Chris Salmon
16. A Stability and Social Investment Facility for High-Debt Countries
Kemal Dervis and Nancy Birdsall
17. The Case for an IMF Insurance Facility
Tito Cordella and Eduardo Levy Yeyati
18. A Shock-Smoothing Facility for the IMF
Kristin Forbes
19. The Policy Support Instrument: A Key Component of the Recent IMF Reform Movement
John B. Taylor
20. IMF Facilities for Poststabilization Low-Income Countries
Steven Radelet
21. Reflections on the Function and Facilities for IMF Lending
Michael Mussa
IV IMF Financial Resources
22. Does the IMF Need More Financial Resources?
Ariel Buira
23. How Should IMF Resources Be Expanded?
Desmond Lachman
24. Is the SDR a Monetary Dodo? This Bird May Still Fly
Karin Lissakers
V Moving Forward
25. The IMF Adrift on a Sea of Liquidity
Barry Eichengreen
26. IMF Reform: Attaining the Critical Mass
Mohamed A. El-Erian
27. The IMF in Perspective
Tommaso Padoa-Schioppa
28. IMF Reform: A Chinese View
Yu Yongding
29. An IMF Reform Package
Edwin M. Truman
About the Contributors
Index