国际货币体制的困境与出路
廖凡国际货币体制的困境与出路
International Monetary System:Difficulties and Way Out
期刊名称:《法学研究》
期刊年份:
作者:廖凡
单位:中国社会科学院国际法研究所
中文关键词:国际货币体制;国际货币基金组织;国际经济法
英文关键词:international monetary system;IMF;reform;effectiveness;democratization
中文摘要:
以国际货币基金组织为核心的现行国际货币体制渊源于大国之间的政治妥协,在约束性和执行力方面存在先天不足。世界经济格局的演变导致该体制的代表性受到质疑,全球金融危机进一步揭示出其所面临的困境,主要表现为机构职能误入歧途、政策监督顾此失彼、治理结构力量失衡以及争端解决有心无力。有鉴于此,应当在近期已有改革举措的基础上,在重塑机构职能、加强双边监督、完善治理结构和促进争端解决四个方面寻找出路。
英文摘要:
The current international monetary system with the International Monetary Fund (IMF) at the core historically originated from the political compromise between major powers, more specifically, between the U.S.and the U.K.This has left the system with inborn deficiencies in terms of effectiveness and enforceability. Moreover, with the evolution of the world economy, developing countries, especially those dynamic emerging markets such as the BRICs, have come to challenge the representativeness of this system dominated by wealthy developed countries. The unexpected global financial crisis further disclosed the underlying problems of the existing system. From the viewpoint of China as an unique actor in the IMF, the author summarizes the major problems IMF faces today, i.e., strayed institutional role, one-sided policy supervision, imbalanced governance structure, and paralyzed dispute resolution. To cope with these problems, some reform measures have already been taken or on the way, but they are inadequate for a meaningful change of the status quo. The author argues that further efforts should be made in terms of reshaping the institutional role, strengthening bilateral supervision, improving governance structure and promoting dispute resolution. The dual goal of the reform should be on the one hand to readjust the functions of the IMF, in order to enhance the effectiveness of its operation, and on the other hand to rebalance its power structure, so as to promote the democratization of its governance.Given that any reform can only be realized by means of revising the relevant legal instruments, and given that the revision of the Articles of Agreement themselves is extremely difficult, the author suggests to begin with lower instruments such as Rules, Regulations and Decisions, and make fuller use of the interpretation power conferred on the Board of Governors and the Executive Board by the Articles of Agreement.
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