Much of the recent literature on the East Asian crisis of 1997-98 has focused on the sudden capital reversals and the accompanying regional bust. An oft ignored fact is that the bust was preceded by a prolonged boom period. This boom was fuelled primarily by large-scale capital inflows...

As part of its trade policy, Singapore has recently embarked on what can broadly be termed "new regionalism". This is characterized by its new-found desire to enter into Free Trade Agreements (FTAs) with the economic powerhouses (Japan and the United States in particular) as well as with a...

This study seeks to demonstrate that the identification of crisis episodes based on commonly applied exchange market pressure (EMP) indices, namely, Eichengreen, Rose and Wyplosz [Eichengreen, B., Rose, A., and Wyplosz, C., 1995, Exchange Market Mayhem: The Antecedents and Aftermaths of...

The key objective of this study is to bring into light several shortcomings of early literatures in identifying episodes of currency crises. A careful examination of the basic statistical distribution of exchange market pressure index, based on a weighting scheme proposed by...