The paper studies the monetary approach to exchange rate for a group of five Pacific Basin economies, using quarterly data for the period of post – Asian financial crisis. Estimated results reveal that for Thailand and the Indonesia which were most affected by Asian financial crisis, monetary model did not work for explaining exchange rate movements. For Korea and Malaysia, the results show that there were long-run relationships between exchange rates and their monetary variables. However, the proportionality hypothesis of exchange rate to relative money supply did not hold for the two countries. Conversely, for Vietnam, it appears that the monetary model worked well in explaining exchange rate movements. Especially, the estimated coefficients of money and output variables are consistent with any traditional variants of monetary model.

The objective of this study is to propose solutions to attract investment capital for tourism development in Thanh Hoa province, Vietnam. Based on the theoretical framework following eclectic or “OLI model” developed by Dunning and Narula (1996) [Dunning, J., & Narula, R. (2003). Foreign direct investment and governments: catalysts for economic restructuring. Routledge.] and data of 660 questionnaires collected from a survey of tourism investors in Thanh Hoa provinces, we found some important influential factors affecting the attraction of investment for tourism development in Thanh Hoa province. In particular, the local government’s policy of attracting capital appears to have the highest level of importance. The study has some policy implications to increase the attractiveness of investment capital in tourism development in the area.