This paper revisits the issue of exchange rate regimes in emerging Asia. It is divided into two main parts. The first part compares de jure and de facto exchange rate regimes in Asia over the decade 1999–2009. It finds that while Asia is home to a wide array of exchange rate...

Since the Asian crisis it has been recognized that exchange rate and monetary policy strategies must involve a fairly high element of flexibility rather than a single-minded defense of a particular rate. One way this flexibility might be introduced is by a country adopting an open economy...