Given its potentially global significance and the attention that there tends to be towards things that go wrong, it is hardly surprising that most of the literature dealing with economic events in East Asia during recent years has concentrated on the crisis period of 1997 and 1998. This work has...

This paper has a number of purposes. First, it revisits the older theory of reserve adequacy and optimality to see whether this can still be used and perhaps strengthened in ways that would inform the current debate. Second, it explores the connection between reserve adequacy and currency crisis...

A decade has passed since the Asian crisis of 1997-1998 which decimated many of the regional economies. While the crisis itself led to severe economic and political consequences, its primary cause was an inappropriate mix of policies, as regional economies attempted to simultaneously maintain...