Daiju Aiba

• Ph.D
• Expert at National Bank of Cambodia

This study examines the effects of the imposition of an interest rate ceiling in April 2017 on credit cost, loan size, and informal credit in Cambodia’s rapidly growing microfinance sector, based on a household survey conducted in August and September 2019. From our analyses, we confirm past evidence that indicates that the average interest rate wa...

We examine international spillover effects of US monetary policy on bank lending in Cambodia, using unique data about loan disbursements and the funding structures of Cambodian banks from 2013Q1 to 2019Q2. The banking sector in a developing country is likely dependent on foreign funding, while the dependency could be the source of vulnerability to...

The Cambodian banking sector has rapidly expanded in recent decades, although there are concerns about the performance of Cambodian banks and the country’s banking sector. A paucity of empirical evidence to clarify the real issues in the banking sector also makes it difficult to formulate effective policy measures to address any potential problems....

抄録 The high extent of dollarization and flourishing of microfinance institutions (MFIs) are both unique features of the Cambodian economy. Microfinance is very beneficial to the development of the national economy as it provides a wide range of financial services at a fair price to the people in general, particularly rural people or those who have...

This paper investigates firm capital structure decisions in the context of the highly dollarized Cambodian economy. The study makes use of survey data collected in 2014 by the National Bank of Cambodia and JICA Research Institute. Specifically, we focus on estimating the determinants of the ratio of commercial bank loans to total assets under circu...

Foreign currency borrowing, also known as financial dollarization given the dominance of the U.S. dollar, is a growing issue in developing countries. This study investigates the determinants of foreign currency borrowing of households in Cambodia using survey data. We find that Cambodian households engage in risk-hedging behavior against exchange r...

We conducted a survey on Cambodian financial institutions and collected financial data at bank- and branch-level, in order to reveal the actual situation of dollarization in Cambodian financial institutions. We found that there were differences in shares of FX currency deposit and loans between commercial banks (CBs) and microfinance deposit-taking...

We investigated the Cambodian enterprises behaviors and its relation with dollarization using survey data. The data was collected in the survey carried out in 2014. We found that, in the case of Cambodia, that not only loans, but revenues, expenditures and price quotations are also highly dollarized. In addition, we found that the extents of dollar...

We examine the determinants of efficiency and the total factor productivity (TFP) change of major financial institutions in Cambodia using data envelopment analysis (DEA). We apply two-stage bootstrapping estimation method to a panel data of twenty-seven financial institutions in the period of 2006–13. The empirical results reveal that the size and...