Central banks’ mandates cannot merely be to achieve price stability; they should be enlarged to include promoting financial system stability. To achieve this dual mandate, central banks are advised to formulate and implement a policy mix of interest rate policy, combined with exchange rate policy, capital flow management as well as macro prudential policy. This policy mix should be furthe…
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 piece 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 Rese…