Cover Economic Policy in a Highly Dollarized Economy
Economic Policy in a Highly Dollarized Economy
The Case of Cambodia
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Abstract

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.

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Author:
International Monetary Fund
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Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
30 Sep 2003
DOI:
https://doi.org/10.5089/9781589061897.084
ISBN:
9781589061897
ISSN:
0251-6365
Pages:
40
Keywords:
OP; dollar; foreign currency; currency; cash dollar; board arrangement; de facto dollarization; dollar supply; dollarization in Cambodia; Currencies; Dollarization; Commercial banks; Bank deposits; Currency boards; East Asia; Baltics; South Asia
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.
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