Dollarization In Cambodia
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Dollarization In Cambodia
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Author : Ms.Nombulelo Duma
language : en
Publisher: International Monetary Fund
Release Date : 2011-03-01
Dollarization In Cambodia written by Ms.Nombulelo Duma and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-01 with Business & Economics categories.
Over the past decade, Cambodia has become Asia’s most dollarized economy. In contrast, dollarization in neighboring Lao P.D.R., Mongolia, and Vietnam has been either declining or broadly stable. Somewhat paradoxically, growing dollarization in Cambodia has occurred against the backdrop of greater macroeconomic and political stability. The usual motive, currency substitution, does not appear to have been a factor. As the volume of dollars increased over the years, so has the volume of riel. A strong inward flow of dollars related to garments sector exports, tourism receipts, foreign direct investment, and aid, has benefitted the dollar based urban economy. The riel based rural economy has, however, lagged behind. Given international experience in de-dollarization, a carefully managed market based strategy, supported by a continued stable macroeconomic environment is essential for Cambodia’s de-dollarization.
Cambodian Dollarization
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Author : Hidenobu Okuda
language : en
Publisher: Taylor & Francis
Release Date : 2023-09-07
Cambodian Dollarization written by Hidenobu Okuda and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-07 with Business & Economics categories.
This book is the first study to provide a comprehensive picture of the reality and structure of dollarization in Cambodia, which has been achieving rapid economic and financial development since the end of 1998, when full piece reigned over the kingdom. It uses the micro-level data collected through nationwide surveys conducted jointly by the National Bank of Cambodia and JICA Ogata Sadako Research Institute in 2014 and 2017. By applying econometric analysis to collected data, the book analyses in detail the structures and mechanisms of dollarization in households, companies, and financial institutions. It also provides detailed information on the historical development of Cambodian dollarization, international comparisons with various cases of dollarization in countries around the world, and the impact of NBC's digital payment platforms (particularly Bakong) on the use of local and foeign currencies. The Cambodian case shows that financial development of low- and middle-income countries is promoted mutually by dollarization and that policies to separate the two are necessary to curb dollarization. This book will be of interest to students, researchers and policy-makers concerned with dollarization and economics in Southeast Asia.
Economic Policy In A Highly Dollarized Economy
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-30
Economic Policy In A Highly Dollarized Economy written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-30 with Business & Economics categories.
This study examines the challenges and issues facing policymakers in highly dollarized economies. Focusing on Cambodia, which achieved almost complete dollarization during 1991-95, the authors review recent developments in the literature on dollarization and examine the costs and benefits of dollarization in Cambodia, including the ensuing macroeconomic policy implications. They carry out an econometric estimation of cash foreign currency circulation in Cambodia in order to gauge the degree of dollarization. In addition to this analysis, the authors present a short description of Cambodia’s economic, financial, and structural background.
Macroeconomic Adjustment In A Highly Dollarized Economy
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Author : Mario de Zamaróczy
language : en
Publisher:
Release Date : 2002
Macroeconomic Adjustment In A Highly Dollarized Economy written by Mario de Zamaróczy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Currency boards categories.
Cambodian Dollarization
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Author : Hidenobu Okuda
language : en
Publisher:
Release Date : 2023
Cambodian Dollarization written by Hidenobu Okuda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Dollarization categories.
"This book is the first study to provide a comprehensive picture of the reality and structure of dollarization in Cambodia, which has been achieving rapid economic and financial development since the 2000s. It uses the micro-level data collected through nationwide surveys conducted jointly by the National Bank of Cambodia and JICA Ogata Sadako Research Institute in 2014 and 2016. By applying econometric analysis to collected data, the book analyses in detail the structures and mechanisms of dollarization in households, companies, and financial institutions. It also provides detailed information on the historical development of Cambodian dollarization, international comparisons with various cases of dollarization in countries around the world, and the impact of NBC's issuance of CBDC (called BACON) on dollarization, and policy measurements to curb dollarization. The Cambodian case shows that the financial development of low and middle income countries is promoted mutually by dollarization and that policies to separate the two are necessary to curb dollarization. This book will be of interest to students, researchers and policy makers concerned with dollarization and economics in Southeast Asia"--
Macroeconomic Adjustment In A Highly Dollarized Economy The Case Of Cambodia
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Author : Sopanha Sa
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2002-05-01
Macroeconomic Adjustment In A Highly Dollarized Economy The Case Of Cambodia written by Sopanha Sa and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-05-01 with categories.
Cambodia became dollarized suddenly in the early 1990s, as a result of massive dollar inflows stemming from a postconflict situation. Considering that the amount of dollars in circulation is unusually high, we attempt to estimate the true degree of dollarization empirically. Our results show that Cambodia has been virtually fully dollarized since 1995. Against a background of severe institutional limitations, the authorities have implemented in recent years policies akin to those of a de facto currency board arrangement, in particular with respect to fiscal discipline. The paper concludes that this policy mix has been appropriate for Cambodia's circumstances.
Dollarization And De Dollarization In Transitional Economies Of Southeast Asia
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Author : Koji Kubo
language : en
Publisher: Springer
Release Date : 2017-09-01
Dollarization And De Dollarization In Transitional Economies Of Southeast Asia written by Koji Kubo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-01 with Business & Economics categories.
This book sheds light on the dollarization trends of four transitional economies in Southeast Asia: Cambodia, Lao PDR, Myanmar, and Vietnam. Moving beyond the tendency to focus on the Latin American experience of dollarization and prolonged high inflation, the chapters in this book compare how payment dollarization has been more persistent than other types of dollarization in this region due to network externalities. The book illustrates that dollarization started in the underdeveloped financial system in these countries and that dollarization interacted with financial development, which is in contrast to dollarization in Latin America. This project extends the frontiers of empirical studies on dollarization. It will be of interest to students, researchers and policy makers concerned with dollarization and economics in Southeast Asia.
Cambodia
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Author : Mr.Olaf Unteroberdoerster
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-27
Cambodia written by Mr.Olaf Unteroberdoerster and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-27 with Business & Economics categories.
Cambodia is poised to join a new generation of Asian frontier economies transitioning from low-income to emerging-market. But the path to greater and more shared prosperity requires a solid foundation of sound macroeconomic policies, enabling new growth drivers, tackling a highly dollarized and fragmented financial system, and creating more fiscal policy space to help meet Cambodia’s vast development needs. This book first takes a closer look at the key economic challenges Cambodia faces at the current juncture, highlighting Cambodia’s structural and financial constraints to growth as well as shifting vulnerabilities as Asia rebalances. It then lays out how a strategy of fiscal and financial sector policies, from creating a fairer and more buoyant tax system to modernizing financial instruments, markets and supervision, can help mobilize the resources and tools needed for one of Asia’s youngest and fastest-growing populations to enjoy more self-sustaining and inclusive growth.
Monetary Policy In Dollarized Economies
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Author : Mr.Adam Bennett
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-15
Monetary Policy In Dollarized Economies written by Mr.Adam Bennett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-03-15 with Business & Economics categories.
Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy issues that arise-and various monetary strategies that may be pursued- when the monetary sector is dollarized, and it considers the implications that dollarization has for the design of IMF programs.
Cambodia
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Author : David T. Coe
language : en
Publisher: International Monetary Fund
Release Date : 2006-02-23
Cambodia written by David T. Coe and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-23 with Business & Economics categories.
Cambodia's reconstruction and reform efforts have spanned almost 25 years following the Khmer Rouge period, which ended in 1979. Economic reforms began in earnest in the early 1990s, but reform efforts were beset by ongoing internal tensions and civil unrest. Although external factors, including sizable aid inflows and a trade agreement with the United States, helped boost growth in the past decade, the country remains one of the poorest in the region. The current coalition government has announced a strategy aimed at revitalizing economic reforms, and in 2004 Cambodia formally joined the World Trade Organization. But elimination of the garment quota system under the Agreement on Textiles and Clothing is exposing an underlying deterioration in competitiveness, which, coupled with slow growth in the agriculture sector and other structural obstacles to private sector growth, has resulted in a medium-term outlook that remains uncertain.