Dollarization in Cambodia: Causes and Policy Implications
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 great...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 11/49 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource (25 p) |
| ISBN: | 1455218936 9781455218936 |
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| 520 | 3 | |a 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 | |
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| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:35Z |
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| spelling | Duma, Nombulelo Verfasser aut Dollarization in Cambodia Causes and Policy Implications Duma, Nombulelo Washington, D.C International Monetary Fund 2011 1 Online-Ressource (25 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/49 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 Online-Ausg http://elibrary.imf.org/view/IMF001/11696-9781455218936/11696-9781455218936/11696-9781455218936.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Duma, Nombulelo Dollarization in Cambodia Causes and Policy Implications |
| title | Dollarization in Cambodia Causes and Policy Implications |
| title_auth | Dollarization in Cambodia Causes and Policy Implications |
| title_exact_search | Dollarization in Cambodia Causes and Policy Implications |
| title_exact_search_txtP | Dollarization in Cambodia Causes and Policy Implications |
| title_full | Dollarization in Cambodia Causes and Policy Implications Duma, Nombulelo |
| title_fullStr | Dollarization in Cambodia Causes and Policy Implications Duma, Nombulelo |
| title_full_unstemmed | Dollarization in Cambodia Causes and Policy Implications Duma, Nombulelo |
| title_short | Dollarization in Cambodia |
| title_sort | dollarization in cambodia causes and policy implications |
| title_sub | Causes and Policy Implications |
| url | http://elibrary.imf.org/view/IMF001/11696-9781455218936/11696-9781455218936/11696-9781455218936.xml |
| work_keys_str_mv | AT dumanombulelo dollarizationincambodiacausesandpolicyimplications |