The type of exchange rate regime in emerging economies has been at the center of economic debate since the Asian crisis. The choice of exchange rate regime has been regarded as critical for emerging economies to achieve sustainable economic growth, and also has important implications for the world economy. In principle, the most appropriate regime for any given economy may differ, depending on the particular economic circumstances, such as the degree of integration into the world economy. Since economic circumstances vary over time, the most appropriate regime for any given country may also change over time.

Keynote Speech by Yung Chul Park
Keynote Speech by Paul Krugman
Keynote Speech by Johe Williamson

sessionxx 1
Lessons from Recent Crises
1. Foreign Exchange Rate Rolicies in Transition
: Lessons, Challenges and Policy Options. /D. Rosati
2. Exchange Rate Policy : Lessons from the Chilean Experience /G. Larrain
3. Exchange Rate Policies in Korea
: Has Exchange Rate Volatility Increased After the Crisis? /Y.C. Park, C.S.
Chung and Y.J. Wang

sessionxx 2
Options for the Future
1. Options for the Exchange Rate Policies of the EU Accesssion Countries
(and other Emerging Market Economies) /P. Bofinger
2. The Future of the Exchange Rate Regime in China /L. He
3. The Hong Kong Currency Board: Crisis, Reform and Future Prospects
/K.C. Chan

SEESION 3
The Choice of an Exchange Rate Regime Revisited
1. The Role of Foreign Direct Investment in Financing Growth and in Stabilising
Exchange Rates
/P. Artus
2. Exchange Rate Regimes of Developing Countries: Global Context and Individual
Choices /P. Masson
3. On The Desirability of a Regional Basket Currency Arrangement /T. Ito

sessionxx 4
The Regional Dimension
1. On Regional Monetary Arrangements for Asean /P. Mauro
2. Responding to Regional Currency Crisis Kazakhstan in The Aftermath of The
1998 Russian Crisis
/K. Ohno
3. Exchange Rate Strategies in the Competition for Attracting Fdi
/A. Benassy-Quere