This paper examines some of the important guidelines such as the degree of openness extent of import and export diversification level of financial development and integration the domestic price stability and international competitiveness with regard to the experience of the SEACEN countries. It then provides some useful hints as to the effectiveness or the lack of it of the traditional criteria used to assess the suitability of exchange rate regimes. The paper also presents an overview of the types of exchange rate regimes that have evolved over the years with particular emphasis on their merits and demerits.
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