Global economic governance: IMF quota reform

Economic Governance and Microeconomic Reform

Economic governance in Australia has undergone radical changes since the 1970s. Many of these changes are associated with the market-oriented policies collectively referred to as ‘microeconomic reform’. Broadly speaking, microeconomic reform can be defined as government policies or initiatives aimed at improving the performance and/or the efficiency of industries or sectors in the economy (Fors...

IMF Governance and Health

The following is a summary of the accompanying paper, A High Price to Pay: IMF Governance, Management of Developing Country Financial Crises, and Health Impacts, to which readers are referred for full details and supporting argumentation. The paper also includes discussion of possible counter-arguments to democratic reform of the IMF, and the historical context of IMF governance, which are omit...

Will Corporate Governance Reform Create an Economic Revival?

In this paper, we investigate whether firm performance is affected by corporate governance and the change of corporate governance after Sarbanes-Oxley Act (SOX hereafter). We find that firm performance, on average, is negatively associated with the corporate governance after the passage of SOX. However, the firm performance is not significantly associated with the change of corporate governance...

Reform of the IMF and World Bank

IMF Voting Reform: Need, Opportunity and Options

The IMF’s economically-weighted voting system gives rise to a major asymmetry of political power, both directly and indirectly, and to serious systemic inertia. The increasing financial pressure on the Fund, a credible “walk-away” threat by “emerging market” economies, and the potential for effective domestic pressure in developed countries together provide an important opportunity for change. ...