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International Monetary Fund. External Relations Dept.

, in fact, stabilize consumption, whether it targeted those countries most in need, and whether ill-timed disbursements of food aid actually had negative fiscal consequences. Problems with aid disbursement Research on foreign aid often looks at assistance in the aggregate rather than examine its component parts, such as disaster relief, humanitarian assistance, and food aid. The research that has looked specifically at the food component of aid has tended to concentrate on individual country programs. This new working paper, by contrast, focuses on global

International Monetary Fund. External Relations Dept.
With the findings of a recent IMF staff study serving as a starting point, a panel of IMF staff and distinguished outside researchers on May 27 debated financial globalization’s benefits and risks. Panelists were Eswar Prasad (IMF Asia and Pacific Department), Shang-Jin Wei (IMF Research Department)—two of the study’s authors—and C. Fred Bergsten (Director, Institute for International Economics (IIE)), Jeffrey Frankel (Professor, Kennedy School of Government at Harvard University), and Daniel Tarullo (Professor, Georgetown University Law Center). Kenneth Rogoff (IMF Economic Counsellor and Director ofthe Research Department), also an author of the study, moderated. Participants suggested ways to contain the downsides of globalization; two of their recommendations—developing domestic financial sectors and strengthening institutions prior to liberalization—drew wide support.