The literature on the East Asian crisis has concentrated almost exclusively on the five crisis-hit economies of Indonesia, Korea, Malaysia, Thailand and the Philippines (Asia-5). Relatively scant attention has been paid to the "twin cities" of Hong Kong and Singapore, both of which also suffered...

This paper examines Thailand's pre-crisis exchange rate policy, focusing on the degree of the country's real exchange rate misalignment pre-crisis and its consequent effects on Thailand's trade balance with its two large trading partners, the US and Japan, in the 1980s and 1990s. Defining...

Free Trade Areas (FTAs) have recently become an integral part of Singapore trade policy. This paper discusses the reasons behind Singapore's recent embracement of 'new regionalism' with particular reference to the proposals to form FTAs with Japan and the US. The paper goes on to examine various...

This paper summarises recent trade reforms in India and documents the extent to which the country has integrated with the global trading system. The paper argues that India has made important strides since the initiation of reforms in 1991. Although it lags significantly behind most of East Asia...