期刊名称：Discussion paper / Centre for International Economic Studies, University of Adelaide
电子版ISSN：1445-3746
出版年度：2005
卷号：1
出版社：Centre for International Economic Studies, University of Adelaide
摘要：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. Can they still be characterized as soft US dollar pegs,
or have they become genuinely more flexible? This paper revisits the evidence
regarding the extent of exchange rate flexibility in the five Asian countries (Indonesia,
Korea, Malaysia, the Philippines and Thailand) post crisis using alternative
methodologies and data up to mid 2004. Using alternative methodologies is critical as
different measures or parameters could lead to diametrically opposite conclusions
regarding the type of exchange rate regime operated by a country.
