the current global financial system. Asia was adversely affected by the crisis not only because of its dependence on trade …, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia's role in the … demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China and Hong Kong, China, the …

This paper revisits the issue of the evolution and choice of exchange rate regimes in Asia. The paper first compiles … discussion on the appropriate exchange rate regimes for Asia in the future. …

Global capital flows into emerging markets, including those in Asia, continue to be volatile. These capital flows … flows. Data show that the main impact of capital flows on economies of East Asia is reflected in real effective exchange … showing the strong linkages between the United States bond markets and those in Asia. These findings enhance the role of …

is a growing consensus that Asia's reserves now substantially exceed the levels required for precautionary purposes or … reserves in developing Asia have in fact reached excessive levels. Informal tests of reserve adequacy based on widely used … confirm the popular belief that developing Asia now has excessive foreign exchange reserves. Therefore, the short-run policy …

several important policy issues that might have regional implications for Asia. …

of China (PRC), the renminbi (listed as CNH), directly affect the volatility of share prices of PRC banks and the overall …