id |
eprints-19690
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recordtype |
eprints
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institution |
SOAS, University of London
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collection |
SOAS Research Online
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language |
English
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language_search |
English
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description |
This article makes the case for strengthening co-operation between regional financing arrangements (RFAs) and the International Monetary Fund (IMF), and examines ways to do so. It argues that ex ante co-operation between RFAs and the IMF is needed to reduce the risk of co-operation failing in the middle of a crisis, to help avoid “forum shopping” and institutional arbitrage, to prevent weakening the IMF’s role as the guardian of global financial stability, to minimise duplication, and to generate mutual benefits from a division of labour and specialisation based on the comparative advantages of the respective institutions. It calls for guidelines for organising the inter-institutional relations between the IMF and RFAs, a clear division of labour in crisis lending, and co-operation and exchange in surveillance and analysis. Co-operation with RFAs should be seen as a chance for the IMF to overcome its stigmatisation, strengthen its global role and ensure its continued relevance.
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format |
Monographs and Working Papers
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author |
Volz, Ulrich
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author_facet |
Volz, Ulrich
|
authorStr |
Volz, Ulrich
|
author_letter |
Volz, Ulrich
|
title |
The Need and Scope for Strengthening Co-operation between Regional Financing Arrangements and the IMF
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publisher |
Deutsches Institut für Entwicklungspolitik [German Development Institute]: Discussion Paper 15
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publishDate |
2012
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url |
https://eprints.soas.ac.uk/19690/
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