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Foreign Currency Borrowing and Risk-Hedging Behavior: Evidence from a Household Survey in Cambodia
https://doi.org/10.18884/00000799
https://doi.org/10.18884/0000079949de3475-d6ee-4a22-94a7-6f7e60f2697a
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
JICA-RI_WP143.pdf (490.3 kB)
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| Item type | 報告書 / Research Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2017-03-01 | |||||
| タイトル | ||||||
| タイトル | Foreign Currency Borrowing and Risk-Hedging Behavior: Evidence from a Household Survey in Cambodia | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Foreign currency borrowing | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Dollarization | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Risk-hedging behaviors | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Financial literacy | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Household survey | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18ws | |||||
| 資源タイプ | research report | |||||
| ID登録 | ||||||
| ID登録 | 10.18884/00000799 | |||||
| ID登録タイプ | JaLC | |||||
| 報告年度 | ||||||
| 日付 | 2017-03-01 | |||||
| 日付タイプ | Issued | |||||
| 著者 |
Aiba, Daiju
× Aiba, Daiju× Odajima, Ken× Khou, Vouthy |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | Foreign currency borrowing, a phenomenon sometimes referred to as financial dollarization, is a growing issue in developing countries. This study investigated the determinants of foreign currency borrowing behavior of households in Cambodia using household survey data; and this allowed use of the currency-wise information in tracking households’ financial activities. We found that Cambodian households engage in risk-hedging behavior against exchange rate risks, and are likely to borrow in a foreign currency if this makes up the major portion of their income stream. We also found that expectation of a depreciation of their local currency leads households to take out local currency loans in line with the predictions of theoretical models. Furthermore, education plays a role in the choice of currency for loans; the better educated households are more likely to engage in risk-hedging behavior, and to seek to match the currency composition between loans and income, than the lesser educated are. We also found that variables related to the use of financial services are also positively correlated with the intensity of risk-hedging behavior against currency mismatches. These results suggest that financial literacy has the potential to enhance risk-hedging behavior against exchange rate risks for Cambodian households. | |||||
| 号 | ||||||
| 号 | Working Paper ;143 | |||||
