Is Dollarization a Problem in the Cambodian Microfinance Sector?
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| Published in | アジア研究 Vol. 65; no. 1; pp. 45 - 60 |
|---|---|
| Main Authors | , |
| Format | Journal Article |
| Language | Japanese |
| Published |
一般財団法人 アジア政経学会
31.01.2019
|
| Online Access | Get full text |
| ISSN | 0044-9237 2188-2444 |
| DOI | 10.11479/asianstudies.65.1_45 |
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| Author | Roviay, LAM Daiju, AIBA |
|---|---|
| Author_xml | – sequence: 1 fullname: Daiju, AIBA organization: JICA Research Institute – sequence: 1 fullname: Roviay, LAM organization: Cambodia Microfinance Association |
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| DOI | 10.11479/asianstudies.65.1_45 |
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| References | National Bank of Cambodia (2017), Supervisory Annual Report 2017, Phnom Penh: National Bank of Cambodia. Okuda, H. (2017), “Banking and Dollarization: A Comparative Study of Cambodia, Lao PDR, and Vietnam,” in Kubo, K. ed., Dollarization and De-dollarization in Transitional Economies of Southeast Asia, London: Palgrave Macmillan, pp. 197–237. Aiba, D., Odajima, K. & Vouthy, K. (2018), “Foreign currency borrowing and risk-hedging behavior: Evidence from Cambodian households,” Journal of Asian Economics, 58, pp. 19–35. Bauchet, J. & Morduch, J. (2010), “Selective knowledge: reporting biases in microfinance data,” Perspective on Global Development and Technology, 9(3), pp. 240–269. Aiba, D. & Sok, P. (2017), “Financial Dollarization: Evidence from a Survey on Branches of Cambodian Financial Institutions,” Hitotsubashi Economics, 10(2), pp. 81–116. National Bank of Cambodia (2018), Supervisory Annual Report 2018, Phnom Penh: National Bank of Cambodia. De Haas, R. & van Lelyveld, I. (2010), “Internal capital market and lending by multinational bank subsidiaries,” Journal of Financial Intermediation, 19, pp. 1–25. Siregar, R.Y. & Chan, N. (2014), Factors behind Foreign Currency Holding by Household in Cambodia, CAMA Working Paper 58/2014. Samreth, S. (2011), “An empirical study on the hysteresis of currency substitution in Cambodia,” Journal of Asian Economics, 22(6), pp. 518–527. Al-Azzam, M. & Mimouni, K. (2017), “Currency risk and microcredit interest rates,” Emerging Markets Review, 31, pp. 80–95. Wagner, C. & Winkler, A. (2013), “The Vulnerability of Microfinance to Financial Turmoil—Evidence from the Global Financial Crisis,” World Development, 51, pp. 71–90. Gietzen, T. (2017), “The exposure of microfinance institutions to financial risk,” Review of Development Finance, 7(2), pp. 120–133. IMF (2017), IMF Country Report, No. 17/325. International Monetary Fund. Brown, M., De Haas, R. & Sokolov, V. (2018), “Regional Inflation, Banking Integration, and Dollarization,” Review of Finance, 22(6), pp.2073–2108. Duma, N. (2011), Dollarization in Cambodia: Causes and Policy Implications, IMF Working Paper, 49. Brown, M. & De Haas, R. (2012), “Foreign bank is and foreign currency lending in emerging Europe,” Economic Policy, pp.57–98. Bylander, M. (2015), “Credit as coping: Rethinking microcredit in the Cambodian context,” Oxford Development Studies, 43(4), pp. 533–553. Gelos, R.G. (2003), “Foreign currency debt in emerging markets: Firm-level evidence from Mexico,” Economics Letters, 78(3), pp. 323–327. Zamaroczy, M. & Sa, S. (2002), Macroeconomic Adjustment in a Highly Dollarized Economy: The Case of Cambodia, IMF Working Paper, 92. Aiba, D. & Tha, R. (2017), “Dollarization and Enterprise’s Behaviors: The Case of Cambodia,” Hitotsubashi Economics, 10(2), pp. 49–80. De Haas, R. & Naaborg, I.J. (2006), “Foreign banks in transition countries: To whom do they lend and how are they financed?” Financial Market, Institutions and Instruments, 15, pp. 159–199. Okuda, H. & Aiba, D. (2018), “Capital structure decisions in a highly dollarized economy: Evidence from Cambodian firms,” Journal of Asian Economics, 58, pp. 1–18. De Haas, R. & van Lelyveld, I. (2006), “Foreign banks and credit stability in Central and Eastern Europe. A panel data analysis,” Journal of Banking & Finance, 30, pp. 1927–1952. Reille, X., Rozas, D. & Forster, S. (2011), Foreign capital investment in microfinance, Reassessing financial and social returns, CGAP Focus Note No. 71. Odajima, K. & Khou, V. (2017), “Foreign Currency Usage and Perception: Evidence from a Survey on Cambodian Households,” Hitotsubashi Economics, 10(2), pp. 9–48. Degrees, H., Havrylchyk, O., Jurzyk, E. & Kozak, S. (2012), “Foreign bank entry, credit allocation and lending rates in emerging markets: Empirical evidence from Poland,” Journal of Banking & Finance, 36, pp. 2949–2959. Brown, M., Kirschenmann, K. & Ongena, S. (2014), “Bank Funding, Securitization, and Loan Term: Evidence from Foreign Currency Lending,” Journal of Money, Credit, and Banking, 46(7), pp. 1501–1534. |
| References_xml | – reference: Aiba, D., Odajima, K. & Vouthy, K. (2018), “Foreign currency borrowing and risk-hedging behavior: Evidence from Cambodian households,” Journal of Asian Economics, 58, pp. 19–35. – reference: Wagner, C. & Winkler, A. (2013), “The Vulnerability of Microfinance to Financial Turmoil—Evidence from the Global Financial Crisis,” World Development, 51, pp. 71–90. – reference: Al-Azzam, M. & Mimouni, K. (2017), “Currency risk and microcredit interest rates,” Emerging Markets Review, 31, pp. 80–95. – reference: Duma, N. (2011), Dollarization in Cambodia: Causes and Policy Implications, IMF Working Paper, 49. – reference: Okuda, H. & Aiba, D. (2018), “Capital structure decisions in a highly dollarized economy: Evidence from Cambodian firms,” Journal of Asian Economics, 58, pp. 1–18. – reference: Bauchet, J. & Morduch, J. (2010), “Selective knowledge: reporting biases in microfinance data,” Perspective on Global Development and Technology, 9(3), pp. 240–269. – reference: Okuda, H. (2017), “Banking and Dollarization: A Comparative Study of Cambodia, Lao PDR, and Vietnam,” in Kubo, K. ed., Dollarization and De-dollarization in Transitional Economies of Southeast Asia, London: Palgrave Macmillan, pp. 197–237. – reference: Aiba, D. & Tha, R. (2017), “Dollarization and Enterprise’s Behaviors: The Case of Cambodia,” Hitotsubashi Economics, 10(2), pp. 49–80. – reference: Samreth, S. (2011), “An empirical study on the hysteresis of currency substitution in Cambodia,” Journal of Asian Economics, 22(6), pp. 518–527. – reference: Odajima, K. & Khou, V. (2017), “Foreign Currency Usage and Perception: Evidence from a Survey on Cambodian Households,” Hitotsubashi Economics, 10(2), pp. 9–48. – reference: National Bank of Cambodia (2018), Supervisory Annual Report 2018, Phnom Penh: National Bank of Cambodia. – reference: De Haas, R. & van Lelyveld, I. (2010), “Internal capital market and lending by multinational bank subsidiaries,” Journal of Financial Intermediation, 19, pp. 1–25. – reference: Reille, X., Rozas, D. & Forster, S. (2011), Foreign capital investment in microfinance, Reassessing financial and social returns, CGAP Focus Note No. 71. – reference: Degrees, H., Havrylchyk, O., Jurzyk, E. & Kozak, S. (2012), “Foreign bank entry, credit allocation and lending rates in emerging markets: Empirical evidence from Poland,” Journal of Banking & Finance, 36, pp. 2949–2959. – reference: IMF (2017), IMF Country Report, No. 17/325. International Monetary Fund. – reference: Siregar, R.Y. & Chan, N. (2014), Factors behind Foreign Currency Holding by Household in Cambodia, CAMA Working Paper 58/2014. – reference: Aiba, D. & Sok, P. (2017), “Financial Dollarization: Evidence from a Survey on Branches of Cambodian Financial Institutions,” Hitotsubashi Economics, 10(2), pp. 81–116. – reference: Gelos, R.G. (2003), “Foreign currency debt in emerging markets: Firm-level evidence from Mexico,” Economics Letters, 78(3), pp. 323–327. – reference: Zamaroczy, M. & Sa, S. (2002), Macroeconomic Adjustment in a Highly Dollarized Economy: The Case of Cambodia, IMF Working Paper, 92. – reference: Bylander, M. (2015), “Credit as coping: Rethinking microcredit in the Cambodian context,” Oxford Development Studies, 43(4), pp. 533–553. – reference: Brown, M., Kirschenmann, K. & Ongena, S. (2014), “Bank Funding, Securitization, and Loan Term: Evidence from Foreign Currency Lending,” Journal of Money, Credit, and Banking, 46(7), pp. 1501–1534. – reference: Gietzen, T. (2017), “The exposure of microfinance institutions to financial risk,” Review of Development Finance, 7(2), pp. 120–133. – reference: De Haas, R. & Naaborg, I.J. (2006), “Foreign banks in transition countries: To whom do they lend and how are they financed?” Financial Market, Institutions and Instruments, 15, pp. 159–199. – reference: Brown, M., De Haas, R. & Sokolov, V. (2018), “Regional Inflation, Banking Integration, and Dollarization,” Review of Finance, 22(6), pp.2073–2108. – reference: National Bank of Cambodia (2017), Supervisory Annual Report 2017, Phnom Penh: National Bank of Cambodia. – reference: Brown, M. & De Haas, R. (2012), “Foreign bank is and foreign currency lending in emerging Europe,” Economic Policy, pp.57–98. – reference: De Haas, R. & van Lelyveld, I. (2006), “Foreign banks and credit stability in Central and Eastern Europe. A panel data analysis,” Journal of Banking & Finance, 30, pp. 1927–1952. |
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| Title | Is Dollarization a Problem in the Cambodian Microfinance Sector? |
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