Download This PaperIMF Retrospective and Prospective: A Public Goods Viewpoint
Review of International Organizations, vol. 5, no. 3, 2008
34 Pages Posted: 28 Mar 2007 Last revised: 8 Jan 2018
Date Written: February 1, 2007
Abstract
The paper investigates changes in IMF activities using the analytical framework of international public goods. Since its founding, the mix of IMF activities has changed greatly. IMF now promotes international financial stability, whose outputs are joint products with varying degrees of publicness. In recent years, IMF loans (recipient-specific benefits) have assumed decreased importance, while the Fund's technical assistance and monitoring activities have taken on greater importance. As a consequence, the club and purely public outputs (e.g., disseminating best practices) have grown as a share of IMF activities. The future of IMF is also addressed, especially in light of increased private capital flows.
Keywords: IMF, international public goods, joint products, international financial stability, Bretton Woods
JEL Classification: F33, H41, F53
Suggested Citation: Suggested Citation
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