The Imf Reform Research

Since the establishment of the IMF 60 years ago, IMF has made a positive role in improving the international monetary cooperation, establishing multilateralism payment system, stabilizing the international exchange rate, maintaining the international balance ,preventing the international debt and financial crisis. Along with change of the international politics and economy, especially the new financial crisis spawned in 2007, the organizational skeleton, operational modern and supervision function don't comply with the development of the international situation. Under this condition, the Board of the IMF has proposed a bunch of reform plans, including the reform of the Board decision-make institution, the reform of conditionality of load, international monetary reform and position, which exert pressure on the development direction and institution effectiveness.This paper, standing on the new institutional economics, picks the essence of the reform of IMF, namely, Board decision-make institution and SDR institution. This paper is divided into three parts: the first part in concerned about the theory of new institutional economics and its branches; the second part is using the transactional fees to explain the reasons why IMF was set up. The third and forth part, which concerns about the explanations of the reform of IMF, are the most important parts in the paper. Given the history first, I will describe the institution reform under the theory of path-dependence. The last part is the result which depends on the former analysis and explanations, and makes subjective prediction.