University Staff Directory The University of Adelaide Australia
Faculties & Divisions | People A to Z | Media Expertise | Phonebook
Public browsing [Login]
Text Zoom: S | M | L

Mr Sok Heng Lay

Telephone +61 8 8313 6024
Position PhD Candidate
Email sokheng.lay@adelaide.edu.au
Fax +61 8 8223 1460
Building Nexus 10 Tower
Floor/Room 4 38
Campus North Terrace
Org Unit School of Economics

To link to this page, please use the following URL:
http://www.adelaide.edu.au/directory/sokheng.lay

Qualifications

2013 - Present : PhD Candidate, School of Economics, The University of Adelaide, Australia

2007 - 2009 : M.A., International Development Program, International University of Japan, Japan

2000 - 2004 : B.B.A., Finance and Banking, National University of Management, Cambodia

Awards & Achievements

  • Prize for Excellence, Japan Foreign Trade Council (JFTC) Essay Competition 2016
  • Faculty of the Professions Executive Dean's Award for Excellence in Teaching 2016, The University of Adelaide
  • 2nd Prize Winner of Essay Competition: Voices of Young People on Governance of Extractive Industries, Oxfam Cambodia, 2013

Teaching Interests

Tutoring

  • Principles of Macroeconomics I
  • Intermediate Econometrics II
  • Money, Banking and Financial Markets III

Publications

Dollarization and Economic Development: A Panel Approach (in progress with Makoto Kakinaka)

Many countries have experienced high dollarization, which is characterized as the use of foreign currency, mainly the US dollar, in parallel with their domestic currency, in their development process. This prevalence is often significant in developing countries. Measuring the degree of dollarization by the ratio of foreign currency deposit to money supply, our study empirically examines how dollarization is associated with economic development that relates to the income level of the people, namely real GDP per capita. We conduct an in-depth analysis of the determinants of dollarization by constructing the panel dataset for 96 countries the period from 1990 to 2009. Our empirical results consistently show that the real income of the people, depreciation of exchange rate, trade openness, and political stability have some clear relationship with the degree of dollarization. In particular, we find a non-monotonic relationship between the income level and the degree of dollarization. As an economy grows in terms of the income level, dollarization becomes more intensified initially and then peaks out to decline. The exchange rate depreciation and trade liberalization are also the main driving forces to dollarization. Furthermore, the result also shows that stable political system could reduce the degree of dollarization.

 

Exchange Rate Movement in a Dollarized Economy: The Case of Cambodia

ASEAN Economic Bulletin, Volume 29, Number 1, April 2012 (with Makoto Kakinaka and Koji Kotani)

There has been an ongoing debate on whether dollarization helps stabilize exchange rates for emerging economies. This paper discusses this issue in a highly dollarized country, Cambodia, by empirically examining the relationship between dollarization and exchange rate movements. The GARCH analysis suggests that dollarization induces the depreciation of the Cambodian riel as well as intensifies exchange rate variability. The result is consistent with the argument that dollarization is one of the crucial causes of exchange rate instability. Dollarization in Cambodia could be a constraint on poverty reduction since it tends to affect the living standard of the poor who earn the income in the riel through the depreciation of the currency and intensified volatility of exchange rates.

Entry last updated: Wednesday, 11 Jan 2017

The information in this directory is provided to support the academic, administrative and business activities of the University of Adelaide. To facilitate these activities, entries in the University Phone Directory are not limited to University employees. The use of information provided here for any other purpose, including the sending of unsolicited commercial material via email or any other electronic format, is strictly prohibited. The University reserves the right to recover all costs incurred in the event of breach of this policy.