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Economic Policy in a Highly Dollarized Economy
			: The Case of Cambodia

Economic Policy in a Highly Dollarized Economy : The Case of Cambodia »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

DOI: http://dx.doi.org/10.5089/9781589061897.084

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

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 develop...

Rwanda

Rwanda »

Source: Rwanda : Statistical Appendix

Volume/Issue: 1998/115

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 November 1998

ISBN: 9781451833225

Keywords: national bank, foreign exchange, export crops, export prices, current expenditure

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Rwanda

Rwanda »

Source: Rwanda : Statistical Annex

Volume/Issue: 2002/187

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2002

ISBN: 9781451833256

Keywords: foreign exchange, national bank, export tax, export crops, exports of goods

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Rwanda

Rwanda »

Source: Rwanda : Statistical Appendix

Volume/Issue: 2001/30

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2001

ISBN: 9781451833249

Keywords: foreign exchange, national bank, export tax, export crops, exports of goods

Exporters are permitted to sell their foreign export earnings freely in the exchange market or to retain them in accounts with domestic banks. The surrender requirements for export earnings of coffee and tea have b...

I Overview

I Overview »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

In recent years a number of countries have adopted the U.S. dollar as their official currency. In some other countries the dollar has become a semi-official currency. This “dollarization” occurs in a variety...

II Economic and Financial Developments

II Economic and Financial Developments »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

Cambodia became independent from France in 1953 and experienced a 17-year period of relative political stability and steady economic growth, starting from a development base similar, if not superior, to that...

III Dollarization in Cambodia

III Dollarization in Cambodia »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

The notion of dollarization emerged as a novel economic phenomenon in the 1980s in Latin America. Early discussions of this phenomenon in the literature revolved around that region’s experience with the incr...

IV Costs and Benefits of High Dollarization in Cambodia

IV Costs and Benefits of High Dollarization in Cambodia »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

Ahigh degree of dollarization can yield both costs and benefits. This section examines how dollarization can help or hurt an economy. Drawbacks of High Dollarization...

V Implications of High Dollarization for Macroeconomic Policy Design

V Implications of High Dollarization for Macroeconomic Policy Design »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

The question arises as to what are the possible macroeconomic policy options for the Cambodian authorities in the context of very high dollarization. More specifically, the question is whether the authoritie...

VI Conclusion

VI Conclusion »

Source: Economic Policy in a Highly Dollarized Economy : The Case of Cambodia

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

The involuntary form of dollarization, called partial or de facto dollarization, occurs when one or several foreign currencies circulate alongside a national currency, with usually the banking system also op...