Exchange Rate Policies in Emerging Asian Countries (Electronic book text)

High-performing Asian currencies have in recent years been pegged to the US dollar, around which a major currency bloc is based. However, the future emergence of a European monetary zone is set to transform the configuration of the international monetary system and the roles of the dollar, the Euro and the yen within this system. Consequently, the strategic orientations in Asian exchange rate policies must be thoroughly re-examined. Exchange Rate Policies in Emerging Asian Countries addresses this issue with discussion of: exchange rate policies pursued in the principal Asian countries the measurement of equilibrium exchange rates for these countries the maintenance of the dollar peg by Asian currencies the absence of a trend to monetary regionalism based on the yen the outlook for regional monetary co-operation. Case studies pay particular attention to Korea, Taiwan, Singapore and Thailand. Written and edited by an international group of experts, this work makes a major contribution to the debate on the future of the Asian currencies in a changing monetary system.