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- W3203232634 abstract "This paper aims to identify real dollarization in markets in Phnom Penh and to investigate how U.S. dollar (USD) and Cambodian riel or Khmer riel (KHR) perform the three functions of money—a unit of account, a store of value and a medium of exchange in markets in Phnom Penh through two simple surveys. Real dollarization refers to the use of the U.S. dollar for purchasing goods and services and for paying salary. We find that the choice of currency for transactions varies with market types, sources of products whether they are imported or domestically produced, and prices of products. The survey about currency for salary payment shows that the majority of employed persons in the private sector and in non-government organization receive salary in U.S. dollar while those who work in public sector receive salary in Khmer riel. The majority of employed persons save their money in U.S. dollar. In general, U.S. dollar dominates Khmer riel in performing the three functions of money in Phnom Penh. • We conducted two questionnaire surveys of (1) sellers and (2) employed persons and self-employed in Phnom Penh. • The choice of currency for transactions varies with market types, sources of products and prices of products. • The choice of currency for salary payment as well as for saving depends on education, age and institution. • The majority of employed persons save their money in U.S. dollar regardless of currency denomination in salary. • In general, U.S. dollar dominates Khmer riel in performing the three functions of money in Phnom Penh." @default.
- W3203232634 created "2021-10-11" @default.
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- W3203232634 date "2021-12-01" @default.
- W3203232634 modified "2023-09-24" @default.
- W3203232634 title "Real dollarization in Phnom Penh, Evidence from two surveys" @default.
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- W3203232634 doi "https://doi.org/10.1016/j.japwor.2021.101102" @default.
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