Pls do not handwrite the answer, this is for easy reading

ai)

Hong Kong has a fixed exchange rate policy while Singapore has a managed floating exchange rate policy. Compare their different approaches both as small and open economies in terms of their relative exchange rate stances (with appropriate diagrams) and in warding off externally induced financial crises (such as the Asian financial crisis in 1997)

aii)Table 2: Effectiveness of monetary and fiscal policy in promoting internal balance for an open economy

Explain and analyse the relative effectiveness of fiscal policy and monetary policy (expansionary or contractionary as befitting the case of dealing with a recession

or an over-heated economy, respectively) in an open economy according to Table 2.

Monetary Policy Strengthened Weakened Fiscal Policy Weakened Strengthened Exchange rate regime Floating exchange rate Fixed exchange rate Table 2