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

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  • International Monetary Fund

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.

Suggested Citation

  • International Monetary Fund, 2003. "Economic Policy in a Highly Dollarized Economy; The Case of Cambodia," IMF Occasional Papers 219, International Monetary Fund.
  • Handle: RePEc:imf:imfocp:219
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    Cited by:

    1. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    2. Jeta Menkulasi & Lodewyk Erasmus & Jules Leichter, 2009. "Dedollarization in Liberia-Lessons From Cross-Country Experience," IMF Working Papers 09/37, International Monetary Fund.
    3. Osmar Jasan Bolívar Rosales, 2016. "Bolivianization And Effectiveness Of The Monetary Policy," Volúmenes de los Cuadernos de Investigacion Economica Boliviana publicados por el Ministerio de Economía y Finanzas Públicas 2016-2, Ministerio de Economía y Finanzas Publicas de Bolivia.
    4. Inthiphone Xaiyavong & Toshihisa Toyoda, 2016. "Currency Substitution in Laos," Asian Economic Journal, East Asian Economic Association, vol. 30(1), pages 67-89, March.
    5. Marcelin, Isaac & Mathur, Ike, 2016. "Financial sector development and dollarization in emerging economies," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 20-32.

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