The depth and breadth of the East Asian financial crisis has added a sense of acute urgency for some concrete and credible measures by policy-makers to revitalise the Japanese economy. While steps to be taken for the long-run competitiveness and economic revitalisation of the Japanese economy...

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...

There is a broad consensus that the soft US dollar pegs operated by a number of Asian countries prior to 1997 contributed to the regional financial crisis of 1997-98. There is, however, much less agreement on the types of exchange rate regimes operated by many Asian countries since the crisis....

Why are some currency crises followed by economic contractions while others are not? This paper is an attempt at answering this query. In particular, we investigate two closely related questions. First, we explore whether there is a difference in the output effects of a devaluation during...

This paper examines cross-border M&A activities in a large panel which includes many developing Asian economies. How important are financial drivers of M&As in the region, particularly financial risks such as market risk, credit risk, and liquidity risk? How significant are intra-(developing)...

The availability of bilateral capital flows between countries has given rise to a number of papers attempting to understand trends and determinants of capital flows between country pairs. Almost without exception, the papers find that the gravity model fits the data quite well. Specifically,...

This paper investigates the determinants of foreign direct investment (FDI) flows to developing Asia using bilateral FDI flows for the period 1990 to 2005. We pay particular attention to possible differences in the determinants of FDI flows to developing Asian economies from the rest of the...

Why are some currency crises followed by economic contractions while others are not? This paper is an attempt at answering this query. In particular, we investigate two closely related questions. First, we explore whether there is a difference in the output effects of a devaluation during...

Unlike trade flows, there has been little to no detailed examination of foreign direct investment (FDI) flows between Asian economies. This paper uses bilateral FDI flows data to investigate trends in intra-Asian FDI flows over the period 1990-2005. It employs an augmented gravity model to...