01720cas a2200241 a 4500 AALejournalIMF001972 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851601 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Macroeconomic Adjustment in a Highly Dollarized Economy : The Case of Cambodia. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (53 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/092 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/092/001.2002.issue-092-en.xml IMF e-Library