This article discusses the currency crisis, currency speculation (or foreign exchange speculation), and the relation between them. It begins by explaining what is a currency crisis, making use of the Asian crisis as a concrete example, which began in Thailand in 1997 and spread to several Asian countries. Next the concepts of speculation, currency speculation, and hedging, which is the opposite of speculation, are explained. Then a few issues related to currency crisis are discussed, and some of the recent theories of currency crisis are critically reviewed. Some of the main points developed in the article are as follows.
July 27, 2015 There had been a system trouble (from July 26‚ 2015 15:25 to July 27‚ 2015 1:00 (GMT)). The service has been back to normal.
July 15, 2015 A new online journal "Mechanical Engineering Letters" has been launched by The Japan Society of Mechanical Engineers (JSME). This publication of such a letter journal is not only a new experience but also a tremendous challenge for the mechanical engineering society.
May 01, 2015 Please note the "spoofing mail" that pretends to be J-STAGE.