Macroeconomic Adjustment in a Highly Dollarized Economy PDF
By:International Monetary Fund
Published on 2002-05-01 by International Monetary Fund
Cambodia became dollarized suddenly in the early 1990s, as a result of massive dollar inflows stemming from a postconflict situation. Considering that the amount of dollars in circulation is unusually high, we attempt to estimate the true degree of dollarization empirically. Our results show that Cambodia has been virtually fully dollarized since 1995. Against a background of severe institutional limitations, the authorities have implemented in recent years policies akin to those of a de facto currency board arrangement, in particular with respect to fiscal discipline. The paper concludes that this policy mix has been appropriate for Cambodia''s circumstances.
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Book ID of Macroeconomic Adjustment in a Highly Dollarized Economy's Books is 28IB3o4TwpsC, Book which was written byInternational Monetary Fundhave ETAG "CI1KTDvNYlw"
Book which was published by International Monetary Fund since 2002-05-01 have ISBNs, ISBN 13 Code is 9781452729060 and ISBN 10 Code is 1452729069
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