This article examines real exchange rate (RER) misalignment in Thailand in the lead-up to the 1997–1998 currency crisis. The methodology involves estimating the long-run equilibrium RER based on the internal and external balance approach. RER misalignment is measured by comparing the actual RER with the estimated long-run equilibrium RER. The results suggest that there was a persistent RER overvaluation ...

This paper examines the determinants of exports in eight East and Southeast Asian economies, with an emphasis on the increasing importance of parts and components in total exports. To see whether exports in parts and components are ‘special’ and to allow comparisons, export equations are estimated for three different export categories: total merchandise exports, manufacturing exports and exports of ...

Over the past three decades, there has been a rapid expansion of processed food exports, replacing traditional agriculture exports such as coffee and tea. However, this development and its policy implications have received little attention in the literature. This paper provides an overview of key characteristics and growth patterns of processed food exports in developing countries. The determinants ...

This paper examines the relationship between cross-border mergers and acquisitions (M&A) and financial development in emerging Asian economies. Bilateral cross-border M&A data for nine emerging Asian economies covering 2000–2009 are analyzed with a sample selection model and a panel data model. The estimation results show that although the banking sector still plays a crucial role in facilitating ...