(DP 1998-09) Currency Crisis and Policy Response: The ASEAN and Philippine Case

Cayetano Paderanga, Jr.


This paper describes the start of the Asian currency of 1997 and some of the more important responses by policy makers, using examples from the Philippines and other Asian countries. The ensuing developments are described and analyzed. Based on this latest episode of currency crisis, the study suggests responses that can be tried and those that must not be attempted. It ends with some lessons for the conduct of macroeconomic management.

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