摘要：The purposes of this study are to analyze the occurence of exchange rate misalignment and its effect on non-tariff policy in ASEAN-5. We use Panel Dynamic OLS to estimate the equilibrium real exchange rate, while for determining the opportunities of the Non-Tariff Measures (NTMs) such as safeguards measures;we use Conditional Fixed-Effects Logistic Regression. The results shows that the magnitude of exchange rate misalignment tends to be large when specific country has a domestic turmoil. In addition, undervalued currrency of exporting country will increase the chances of safeguards measures enforcement from partner countries.
