Research On The Supervision And Reform Of The International Monetary Fund After The Global Financial Crisis

The International Monetary Fund is the most important international institution among the current monetary system across the world. It is functioned to maintain the stability of international monetary system and international finance system by fulfilling its function of surveillance. After the collapse of the Bretton Woods system,in order to meet the regulatory needs of the era of floating exchange rates, the IMF formally established the surveillance function to supervise the exchange-rate regime and exchange arrangements of member states. In the practice of surveillance, in order to improve the effectiveness, the range and field of the supervision are no longer limited to the aspect of exchange-rate only, and they gradually extend to finance and macroeconomic policy, etc. The role of surveillance is increasingly vital. With the development of the world economy, the financial crisis is gradually become the biggest threat to the international financial system. The IMF, because of its prominent role in the international financial system, has also been attached the accountability of preventing the international financial crisis, which is also included into the scope of surveillance. From the aspect of actual effect, however, the surveillance function doesn’t meet the satisfaction in terms of the financial crisis prevention. The outbreak of global financial crisis in 2008 obliged the IMF to make a certain degree of change.But after changes, there is still plenty of room for the improvement of surveillance.Thus, this thesis is mainly aimed at analyzing the post-crisis surveillance, and then providing some policy recommendations for the further change of the future surveillance. This thesis is divided into three parts. The first part mainly introduces the history and current status of the IMF, sorts each important change of surveillance,and summarizes the post-crisis surveillance changes. The second part mainly assesses the current surveillance, analyzes the effectiveness among different fields of surveillance, and sorts and summarizes the features for the surveillance changes, then comprehensively concludes the existing problems in current surveillance. The third part mainly puts forward policy recommendations for future changes in surveillance.Based upon the existing problems in surveillance and combined with other external factors which affect the surveillance function, this part predicts the direction of future change in surveillance and provides some relevant policy recommendations.