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Currency substitution and financial sector developments in Cambodia

Viseth, Kem Reat


The tendency to substitute domestic for foreign currency (as a way of holding wealth and a means of transaction for goods and services) is common throughout the world, and particularly so in countries attempting to overcome thin financial institutions or errant monetary policy. This paper uses monthly data to analyze the phenomenon of currency substitution in Cambodia during the recent economic and financial reform process, 1993-2001. Results show that there is a significant long run...[Show more]

CollectionsANU Research Publications
Date published: 2002
Type: Working/Technical Paper


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