Deposit dollarization in Myanmar

Koji Kubo

No 473, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

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: Myanmar; Foreign exchange; Monetary policy; Dollarization; Foreign currency deposits; Foreign currency loans (search for similar items in EconPapers)
JEL-codes: E41 F31 O53 (search for similar items in EconPapers)
Date: 2014-08-01
New Economics Papers: this item is included in nep-mac, nep-mon and nep-sea
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Published in IDE Discussion Paper = IDE Discussion Paper, No. 473. 2014-08-01

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