Is Speculative Activity in Asia Pacific Markets Anything New?

This paper evaluates the role of speculative behaviour in the floating of several Asian currencies in 1977. The incentive for speculators to adopt trading strategies forcing a country to float their currency is taken into account after assessing the exchange rate regimes, currency movements and economic fundamentals for countries in the Asia Pacific. The globalisation of capital markets and use of short-term borrowing by the Asian countries affected by speculative pressures is also taken into consideration.