: institutional quality, depth of the domestic bond market, and performance in inflation targeting. While trade and financial openness …

inflation and exchange rates maintain stability while its economy is experiencing difficulties due to the international …-of-value purposes is decreasing while the amount of foreign currency holdings for transaction purposes is intact, inflation and exchange … purposes begins to fall, exchange rates show some increase and inflation decreases. In the final stages, where the amount of …

Korea, Japan, China and 10 ASEAN countries. The foreign exchange reserves of these countries increased rapidly from 1990 to …

. Lastly, we explain the possibility of the inflation pressure and currency market distortion by the asymmetric hedging …