The Asia Pacific region was characterized in the second half of the twentieth century by an absence of regional trading arrangements. The situations changed after 2000, raising questions of sequencing and of the boundaries of the region. This paper argues that the proliferation of regional and...

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....

FX pricing processes are nonstationary and their frequency characteristics are time-dependent. Most do not conform to geometric Brownian motion, since they exhibit a scaling law with a Hurst exponent between zero and 0.5 and fractal dimensions between 1.5 and 2. This paper uses wavelet...