In a globalized financial environment where massive capital flows across countries and continents with minimal restrictions, exchange rate management policies acquire great significance. This book dwells on the exchange rate management in emerging economies of Asia. South East Asian economies like Thailand, South Korea and Indonesia have witnessed severe financial turbulence during 1997. There is a substantial difference between dejure and de facto classifications, between what countries say they do and what they actually do. Many Asian countries are reluctant to float their currencies freely. They crave a return to some measure of exchange rate stability. But even those who wish to peg or maintain their peg, like Hong Kong, have a problem. To whom should they peg? It is remarkable that these emerging Asian economies are a major source of net external financing for capital-rich economies, particularly the United States.
ABOUT THE AUTHOR Katuri Nageswara Rao
Katuri Nageswara Rao (b. 1946) has worked in Indian Overseas Bank for 27 years followed by a brief stint of 20 months in Karur Vysya Bank as Head of the Staff Training College, Karur. During his tenure at Indian Overseas Bank, he had exposure in critical areas like credit appraisal and supervision, senior level branch management, inspection and rehabilitation of sick units. He holds an M.Sc. degree (Mathematics) from Sri Venkateswara University and is a CAIIB from the Indian Institute of Bankers, Mumbai. Presently, he is the Associate Dean, ICFAI University, Hyderabad. He is also the Consulting Editor of Professional Banker, a monthly magazine, published by the ICFAI University Press. His articles on banking and general management have been published in The Economic Times, The Hindu Business Line and The Times of India. He has already edited a few books for the ICFAI University Press on banking related topics. He has authored a book titled, "Global Banking-Asia-Pacific Region" also published by the ICFAI University Press.
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