Linkages between International Financial and Trade Institutions : IMF, World Bank and WTO
- Linkages between International Financial and Trade Institutions : IMF, World Bank and WTO
- Ahn, Dukgeun
- Issue Date
- Series/Report no.
- KDI Working Paper Series;00-03
- This paper examines the linkage issues between international trade institution and
international financial institutions, in particular the WTO and the IMF. Although the
WTO was established as an international organization in 1995, the current arrangement
between the WTO and the IMF is not sufficient to accommodate the new development
for the world trading system. This deficiency of institutional arrangement drew much
attention during the recent financial crisis in which the active role of the IMF was viewed
occasionally to be in conflict with the obligation of the WTO system. In this paper, the
historical and current arrangement between the IMF and the World Bank and the WTO
are examined to shed some light on potential areas for new development. In addition, the
role of the IMF concerning financial issues, inter alia, in the WTO dispute settlement is
also reviewed. This issue is discussed in relation to the issue of proper delineation
between the WTO dispute settlement system and the Balance-of-Payments Committee.
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