Research Activities

Research Projects

FY 2015/2016 Research Topic: C-26
De-dollarization in Transitional Economies of Southeast Asia


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 (hereafter CLMV countries). Given its adverse effects on financial sector stability, how to reduce financial dollarization (de-dollarization) has emerged as an important policy issue for these countries. Formulation of a de-dollarization policy requires an understanding of the country-specific background of dollarization. Summarizing and contrasting the backgrounds of dollarization in CLVM countries, this study aims to present policy prescriptions 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 ] OKUDA Hidenobu (PRofessor, Hitotsubashi University)
[ Co-researchers ] ODAJIMA Ken (Executive Senior Research Fellow, JICA Research Institute)
[ Co-researchers ] Pham Thi Hoang Anh (Deputy Director, Banking Research Institute, Banking Academy of Vietnam)
[ Co-researchers ] Phetsathaphone Keovongvichith (Director General, International Relations Department, Bank of the Lao PDR)
  • Monograph in English