Description:
Abstract:
Myanmar has peculiar conditions of
deposit
dollarization that were shaped by
administrative controls. On the one hand, restrictive
controls
encouraged
the
accumulation of foreign currency deposits (FCD). On the other hand, foreign
currency loans (FCL) were
not practiced
officially; therefore, FCD was not utilized
for
credit.
Given the adverse effects and
persistence
of dollarization in other
dollarized economies and the recent recovery of local currency deposits in Myanmar,
this
paper opts for
the
prohibition of FCL and offers
policy measures for
de-dollarization......Keywords:
dollarization,
foreign currency deposits,
foreign
currency loans, Myanmar
JEL classification:
F31, E41, O53
Source/publisher:
Institute for Developing Economies (IDE) Discussion Paper 473
Date of Publication:
2014-08-00
Date of entry:
2014-10-09
Grouping:
- Individual Documents
Category:
Language:
English