This July marks the second year "anniversary" of the Thai baht devaluation – the one that started the Asian currency crisis. In its aftermath, quite a number of realizations are now evident. This paper seeks to present further analyses and lessons as well as pose some policy proposals.
As part of its program on capital control, AER conducts a series of studies on capital flows as well as embarks on various initiatives that generate discussions and analysis, especially the lessons learned from the Asian crisis, towards putting forward concrete proposals and advocacy agenda for bolder capital regulation at the national and international levels.
To complement these activities, this section compiles selected studies, advocacy papers and outputs of seminars, workshops, conferences, and similar forums conducted by or co-sponsored by AER on capital flows.
Initially, it contains the proceedings of and select papers from the international workshop on capital flows with the theme “Arresting Speculation and Volatility” held last February 2001 in Hong Kong. The workshop was a joint project of Asian Regional Exchange for New Alternatives (ARENA) and AER to provide a venue and an opportunity for concerned scholars, as well as activists and civil society organizations, to present, or propose specific and appropriate measures to manage or regulate short-term capital flows.