Emerging Powers and Global Governance: Whither the IMF?
IMF Working Papers, October 2, 2015
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Bibliographic details
- Authors: Rakesh Mohan, Muneesh Kapur
- Published: October 2, 2015
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781513557403.001
Key findings on governance and voice
- The governance structure in global bodies like the IMF "continues to be disproportionally dominated by advanced economies."
- Sustained rapid growth in emerging and developing economies (EDEs) in the past "2-3 decades" has led to their growing relative weight in the global economy, but with "little increase in their voice in the IMF."
- The emergence of regional financial arrangements "reflects the growing dissatisfaction of the EDEs with the current framework."
- The global economy is described as being "on the cusp of an epochal change moving the fulcrum of economic power from the North Atlantic towards Asia after more than 200 years."
Analysis and implications
- Structural imbalance: Advanced economies retain disproportionate governance influence in global financial institutions despite shifts in global economic weight toward EDEs.
- Response imperative: "This must be recognized and responded to adequately," indicating the need for institutional adaptation to reflect changing economic realities.
- Regional alternatives: The rise of regional financial arrangements is presented as both a symptom of dissatisfaction and a potential countervailing force to existing global governance structures.
Subjects and thematic focus
- Expenditure
- Financial crises
- Financial regulation and supervision
- Financial sector policy and analysis
- Financial sector stability
- Foreign exchange
- Public investment and public-private partnerships (PPP)
- Purchasing power parity
Keywords
- Emerging Markets
- Europe
- Financial sector stability
- Global
- Global Governance
- governance structure
- IMF article
- IMF governance
- IMF quota increase
- IMF reform
- IMF resource
- International Monetary Fund
- North America
- Public investment and public-private partnerships (PPP)
- Purchasing power parity
- quota resource
- quota share
- Quotas
- summit meeting
- WP
Publication and document facts
- Title: Emerging Powers and Global Governance: Whither the IMF?
- Authors: Rakesh Mohan, Muneesh Kapur
- Date: October 2, 2015
- Series: Working Paper No. 2015/219
- Issue: 219
- Volume: 2015
- Pages: 55
- DOI: https://doi.org/10.5089/9781513557403.001
- Stock No: WPIEA2015219
- ISBN: 9781513557403
- ISSN: 1018-5941
- Citation example provided: Rakesh Mohan, and Muneesh Kapur. "Emerging Powers and Global Governance: Whither the IMF?", IMF Working Papers 2015, 219 (2015), accessed 8/15/2026, https://doi.org/10.5089/9781513557403.001
IMF Working Paper No. 2015/219 by Rakesh Mohan and Muneesh Kapur.