Suchergebnisse

ABSTRACT
Shareholding formulas determine member countries' voice in capital-based international organizations. They are crucial for international finance and draw much attention in negotiations. In principle, these formulas reflect member countries' relative economic positions, but in practice, they serve as a starting point in negotiations, alongside other economic and political factors. This article investigates the unique shareholding formula of the Asian Infrastructure Investment Bank (AIIB), and compares it with those of the Bretton Woods institutions, that is, the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC). It shows that both the AIIB and the Bretton Woods institutions have learnt from each other's shareholding formulas. Built upon the Bretton Woods practice, the AIIB's gross domestic product-based shareholding formula could stimulate the IMF to establish a new quota formula under the 16th general review of quotas, the IBRD to implement the results calculated from its 2016 Dynamic Formula, and the IFC to develop its own formula by the date of the next shareholding review in 2025.

OBJECTIVES: To determine the association between provincial government health and social spending and population health outcomes in Canada, separately for men and women, and account for the potential role of income inequality in modifying the association. METHODS: We used data for nine Canadian provinces, 1981 to 2017. Health outcomes and demographic data are from Statistics Canada; provincial spending data are from provincial public accounts. We model the ratio of social-to-health spending ("the ratio") on potentially avoidable mortality (PAM), life expectancy (LE), potential years of life lost (PYLL), infant mortality, and low birth weight baby incidence. We interact the ratio with the Gini coefficient to allow for income inequality modification. RESULTS: When the Gini coefficient is equal to its average (0.294), the ratio is associated with desirable health outcomes for adult men and women. For example, among women, a 1% increase in the ratio is associated with a 0.04% decrease in PAM, a 0.05% decrease in PYLL, and a 0.002% increase in LE. When the Gini coefficient is 0.02 higher than average, the relationship between the ratio and outcomes is twice as strong as when the Gini is at its average, other than for PAM for women. Infant-related outcomes do not have a statistically significant association with the ratio. CONCLUSION: Overall, outcomes for men and women have similar associations with the ratio. Inequality increases the return to social spending, implying that those who benefit the most from social spending reap higher benefits during periods of higher inequality.