Cambodian Dollarization Its Policy Implications for LDCs' Financial Development

• Main Authors: Okuda, Hidenobu, Chea, Serey
• Format: eBook
• Language: English
• Published: Oxford Routledge 2024; Taylor & Francis
• Edition: 1
• Subjects: Atm Machine; Business & Economics; Cambodian; Cambodian Economy; Central Bank; Currency Mismatch; Development; Development economics and emerging economies; Digital Currency; Dollar Deposit; Dollarization; Econometrics and economic statistics; Economic Conditions; Economic Development; Economics; Economics, Finance, Business and Management; Financial Dollarization; Financial System; Firm Level Dataset; Foreign Currencies; Foreign Currency Deposits; Foreign Currency Lending; Foreign Exchange Currency; Globalization; Interdisciplinary studies; International economics; Microfinance Institutions; Money Changers; Non-cash Payments; North West Area; Partial Dollarization; Payment Service Providers; Payments Dollarization; Phnom Penh; Political economy; QR Code; Reference, Information and Interdisciplinary subjects; Regional / International studies; Siem Reap; SME Finance; South East Area; Vice Versa; Dollar Deposit; Phnom Penh; QR Code; Money Changers; Financial System; Atm Machine; Vice Versa; Siem Reap; Cambodian Economy; Foreign Exchange Currency; Digital Currency; Payments Dollarization; Currency Mismatch; South East Area; Firm Level Dataset; Non-cash Payments; Foreign Currency Lending; Currency Board System; Payment Service Providers; Dollarization; Microfinance Institutions; Cambodian; Foreign Currency Deposits; Financial Dollarization; QR Code Scanning; North West Area; SME Finance; Foreign Currencies; Partial Dollarization; Central Bank
• ISBN: 9781032489162; 1032489170; 1032489162; 9781032489179; 1000955559; 9781003391418; 1003391419; 9781000955552; 1000955575; 9781000955576
• DOI: 10.4324/9781003391418

This book is the first study to provide a comprehensive picture of the reality and structure of dollarization in Cambodia, which has been achieving rapid economic and financial development since the end of 1998, when full peace reigned over the kingdom. It uses the micro-level data collected through nationwide surveys conducted jointly by the National Bank of Cambodia and JICA Ogata Sadako Research Institute in 2014 and 2017. By applying econometric analysis to the collected data, the book analyses in detail the structures and mechanisms of dollarization in households, companies, and financial institutions. It also provides detailed information on the historical development of Cambodian dollarization, international comparisons with various cases of dollarization in countries around the world, and the impact of NBC's digital payment platforms (particularly Bakong) on the use of local and foreign currencies. The Cambodian case shows that financial development of low- and middle-income countries is promoted mutually by dollarization and that policies to separate the two are necessary to curb dollarization. This book will be of interest to students, researchers, and policy-makers concerned with dollarization and economics in Southeast Asia.