... 41, 62 –3government bonds, 42–3yen, 4–5, 40, 43, 55, 74 6, 121J-curve, 62 –3Keynes, John Maynard, 9, 47, 65 Korea, 36, 62 , 1 26 won, 27, 115korunaCzech, 45, 57, 1 76, 2 06 Slovak, 55, 2 06 Krugman, ... funds, 1 86 Malaysia, 69 , 110ringgit, 125managing currency risk, 12, 13corporation and, 137– 56, 197–9investor and, 157–74, 199–202speculator and, 175–91, 202matched hedging, 165 6, 198Mexico, ... returns, 159 61 , 200active currency management, 163 , 166 –71AFTA, 138‘alpha’, 163 –5, 200–1animal spirits see flowArgentine peso, 110ASEAN, 138Asia, 12, 36, 68 , 110, 119Asian crisis, 31, 62 , 115,...