TY - BOOK ID - 84542914 TI - Dollarization in Cambodia : Causes and Policy Implications PY - 2011 SN - 1455253227 1462323286 1283555719 9786613868169 1455245151 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Dollarization KW - Monetary policy KW - Banks and Banking KW - Money and Monetary Policy KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Monetary Policy KW - Monetary economics KW - Banking KW - Currencies KW - Bank deposits KW - International reserves KW - De-dollarization KW - Money KW - Banks and banking KW - Foreign exchange reserves KW - Cambodia UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542914 AB - 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. ER -