Research Activities

Research Projects

FY 2014/2015 Research Topic: C-35
De-dollarization in ASEAN Latecomers


Financial dollarization, which is the widespread use of foreign currency deposits and loans in an economy, is commonly observed in various degrees in Cambodia, Laos, Myanmar and Vietnam (hereinafter CLMV countries). Given its adverse effects on financial sector stability, how to reduce financial dollarization (de-dollarization) emerges as an important policy issue for these countries. Formulation of de-dollarization policy requires an understanding of the country-specific background of dollarization. By summarizing and contrasting the backgrounds of dollarization in the CLVM countries, this study aims to present policy proposals for de-dollarization.


April 2014 - March 2016

Members of the Research Project
[ Organizer ] KUBO Koji
[ Co-researchers ] Bhanupong Nidhiprabha (Associate Professor, Faculty of Economics, Thammasat University, Thailand)
[ Co-researchers ] ODAJIMA Ken (Executive Senior Research Fellow, JICA Research Institute)
[ Co-researchers ] Nguyen Anh Duong (Researcher, Department of Macroeconomic Policy Studies, Central Institute of Economic Management (CIEM), Vietnam)
[ Co-researchers ] Phetsathaphone Keovongvichith (Acting Director-General, International Relations Department, Bank of Lao PDR)
[ Co-researchers ] OKUDA Hidenobu (Professor, Hitotsubashi University)
  • First Year: Interim Report
  • Second Year: Book from commercial publisher