After the Crisis, the East Asian Dollar Standard Resurrected: An Interpretation of High Frequency Exchange Rate Pegging

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Is the crisis problem growing more severe (2001, background): “This tax and reserve treatment of BIBF institutions acted like Chilean holdingperiod taxes in reverse, encouraging rather than deterring short-term capital inflows.”
The East Asian Dollar Standard, Fear of Floating, and Original Sin (2004, unknown): “Indeed, in the great 1997/98 crisis when Indonesia, Korea, Malaysia, Philippines, and Thailand were suddenly forced to devalue—and curtailed imports while trying to stimulate exports—this forced a deflation in the dollar prices of goods traded in the region (McKinnon, 2001).”