新的份额公式:国际货币基金组织治理改革的关键

IMF的份额分配反映了强烈的历史继承性,损害着IMF在全球治理中的合法性。只有尽快完成修改份额公式的工作,以反映世界经济和成员国相对实力的快速变化,才能为IMF的治理改革奠定良好的基础。本文回顾了布雷顿森林公式及其修正式的含义和弊端,分析了QFRG的政策建议,并说明了IMF正在进行的关于份额公式改革讨论的范围和复杂性,指出走向新的份额公式需要解决的两个主要问题是:1.如何增加发展中国家的整体份额?2.是否应当将开放度纳入到份额公式中?此外,在新份额公式的实施过程中,基金组织份额总规模的大幅度增长将是难以避免的。

A New Quota Formula: the Hinge of IMF Governance Reform

Current shares of IMF quotas reflect a strong historical legacy, undermining the legitimacy of IMF in global governance. Therefore, a realignment of the members'quotas corresponding to their relative positions in the world economy is necessary; and prompt agreement on a new formula is the hinge of IMF governance reform. This article first reviews the implications and shortcomings of the Bretton Woods formula and its four alternatives, and then analyzes the policy recommendations of the QFRG. It points out two major problems which need to be solved toward a new quota formula: 1) How might the quota shares of developing countries be increased? 2) Should "openness" be included in the revised quota formula? Finally, the article suggests that considerable expansion of the Fund's overall size is inescapable while putting the new quota formula to work.