Economic Policy in a Highly Dollarized Economy: The Case of Cambodia
September 30, 2003
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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.
Subject: Bank deposits, Banking, Commercial banks, Currencies, Currency boards, Dollarization, Financial institutions, Financial services, Foreign exchange, Monetary policy, Money
Keywords: Baltics, Bank deposits, board arrangement, cash dollar, Commercial banks, Currencies, currency, Currency boards, de facto dollarization, dollar, dollar supply, Dollarization, dollarization in Cambodia, East Asia, foreign currency, OP, South Asia
Pages:
40
Volume:
2003
DOI:
Issue:
008
Series:
Occasional Paper No. 2003/008
Stock No:
S219EA
ISBN:
9781589061897
ISSN:
0251-6365
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