This paper examines the role that macroeconomic policy management has played in the Malaysian development experience. Given the multiracial nature of Malaysian society, macroeconomic policy has not only been about economic stabilization, but also about addressing income disparities along racial...

There is a spectrum of policy options available in dealing with dollarization in the transitional economies of Southeast Asia. These range from official dollarization at one end and enforced de-dollarization at the other. In between lie: currency board arrangements (CBAs), single currency...

This paper examines the inter-relationships between subregionalism, regionalism, and multilateralism using the Greater Mekong Subregion (GMS) and the ASEAN Free Trade Area (AFTA) as case studies. In particular, we look at whether subregionalism or regionalism can assist a country in moving...

The multiple currency phenomenon (MCP) in Lao PDR takes the form of the use of foreign currencies such as dollars and baht in the presence of a domestically issued currency. The MCP has both costs and benefits. The costs include the social loss associated with seigniorage, the inability to...

The interest in forming BTAs has been growing at a phenomenal rate. In the Asia-Pacific region alone, the number of BTAs has more than tripled over the past 5 years, from 57 in 2002 to 176 in October 2006. There are more than 300 worldwide. In this paper, we try to explain the proliferation of...