INTERNATIONAL ECONOMIC INSTITUTION

To boost the economic cooperation's among countries

To help a quicker recovery of the international economy.

Act as financial intermediary

Why Were They Are Created

1. International Monetary Fund (IMF)2. World Bank 3. Asian Development Bank (ADB)4. United Nations Conference On Trade And

Tariff (UNCTAD)5. World Trade Organisation (WTO)6. The Multilateral Investment Guarantee

Agency (MIGA) 7. International Development Association

(IDA)8. International Finance Corporation (IFC)

International Economic Institution

History

After the great depression in 1930’s there was a need for an organisation to create a system for exchange rate stability

The World Bank & International Monitory Fund (IMF) were created after world war

Need for reconstruction of Countries economies affected by World War 2nd

& for the development of under developed nations

History .....

The united state treasury passed proposal in 1943 for its establishment

The USA proposal is known as “white plan” & UK’s proposal “keynes plan” become the basis for the international monetary & financial conference at Bretton woods in 1944

44 nations in this conference.

It came in to being to promote economic and financial corporation among the member countries with a view to facilitate the expansion & balanced growth of world trade

1.International Monetary Fund

It was established to provide short term assistance to correct the balance of payments disequilibrium.

Created in 1945, the IMF is governed by and accountable to the 189 countries.

It also known as “fund” (IMF)

It is popularly known as world bank

It was established to promote long-term assistance for the reconstruction & development of the economies of the member countries

Established in 5th December 1944

Reconstruction of week countries.

2.The International Bank For Reconstruction And Development (IBRD) Or The World Bank

Type : Development finance institution Purpose :Development assistance,

Poverty reduction Headquarters:Washington,D.C.,United

States Membership :189 countries President of the World Bank: Jim Yong Kim Parent organization :World Bank

Established on 22 august 1966 to facilitate economic development of country’s in Asia

Member country’s : 67

Aim : an Asia and pacific free from poverty

Headquartered at Manila, Philippines.

From 31 members at its establishment in 1966, ADB has grown to encompass 67 members - of which 48 are from within Asia and the Pacific and 19 outside.

3.Asian Development Bank (ADB)

IDA was established in 1960 as an affiliate of the World Bank

It was established primarily to provide finance to less developed member countries on a soft loan basis

It has 173 share holder nations.

4.International Development Association (IDA)

IFC was established in July 1956

To provide finance to private sector in developing countries

It is affiliated of the World bank ,but it has separate legal entity funds & association .

It has 187 members

Aim : growth of productive private enterprises.

5.International Finance Corporations (IFC)

Established in 1964 , Geneva. Promote the development - friendly

integration of developing countries in to the world economy

Aims: to help shape current policy debates & thinking on development, with a particular focus on ensuring that domestic policies & international actions are mutually supportive in bringing about sustainable development

Membership -194

6.United Nation Conference On Trade And Development (UNCTAD)

Established in April 1988 It was established to supplement the

function of world bank & IFC Type: Development finance institution Headquarters: Washington, D.C. Membership: 181 countries Executive Vice President: Keiko Honda Parent organization World Bank Group .

7.The Multilateral Investment Guarantee Agency (MIGA)

In 1947 the General Agreement On Tariff & Trade (GATT) was formed

In 1995 the WTO replaced the GATT Has 164 members Located in Geneva Aim: to improve the welfare of the

member countries by lowering trade barriers

8.WORLD TRADE ORGANISATION (WTO)

ECONOMIC INSTITUTION

YEAR NO.OF MEMBERS

HEADQUARTERED

IMF 1945 189 Washington D.C

WORLD BANK 1944 189 Washington D.C

ADB 1966 67 Manila

UNCTAD 1964 194 Geneva

WTO 1995 164 Geneva

MIGA 1988 181 Washington D.C

IDA 1960 173 Washington D.C

IFC 1956 187 Washington D.C

International Business Text & Cases ;P.Subba Rao;3rd Revised & Enlarged Edition;page No;420-442

International Business ;Dr.A.J.George ,Anish Thomas ;C.S.S M.Com Semester III MGU;page no:118-143

International business ; K Aswathappa; page no:409

References