This paper examines exchange rate behaviour in the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Singapore, and Thailand). It finds that for the last ten years, there is no evidence that their central banks target particular exchange rate levels against any currency or basket. Thus,...

We investigate country heterogeneity in cross-country growth regressions. In contrast to the previous literature that focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) Model Averaging (IBMA) to address not only potential parameter...