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Thailand: The Making of a Miracle?

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  • Karel Jansen

Abstract

Over the last half century, Thailand has been one of the fastest growing developing countries. This article reviews the causes of that growth. It deals both with the immediate factors, in a growth accounting framework, and with the underlying social and political factors. The author reaches the conclusion that a dynamic entrepreneurial class together with a supportive state were the key elements in Thailand’s rapid and efficient accumulation of production factors. Although in this respect Thailand is similar to a small number of other East Asian countries, the Thai case also has a number of unique characteristics.

Suggested Citation

  • Karel Jansen, 2001. "Thailand: The Making of a Miracle?," Development and Change, International Institute of Social Studies, vol. 32(2), pages 343-370, March.
    • Handle: RePEc:bla:devchg:v:32:y:2001:i:2:p:343-370
    DOI: 10.1111/1467-7660.00208
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    Cited by:

    1. Sajid Anwar & Desh Gupta, 2006. "Financial Restructuring and Economic Growth in Thailand," Global Economic Review, Taylor & Francis Journals, vol. 35(1), pages 113-127.
    2. Diao, Xinshen & Rattso, Jorn & Stokke, Hildegunn Ekroll, 2005. "International spillovers, productivity growth and openness in Thailand: an intertemporal general equilibrium analysis," Journal of Development Economics, Elsevier, vol. 76(2), pages 429-450, April.
    3. Edsel E. Sajor & Rutmanee Ongsakul, 2007. "Mixed Land Use and Equity in Water Governance in Peri‐Urban Bangkok," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 31(4), pages 782-801, December.
    4. Diao, Xinshen & Rattso, Jorn & Stokke, Hildegunn E., 2006. "Learning by exporting and structural change: A Ramsey growth model of Thailand," Journal of Policy Modeling, Elsevier, vol. 28(3), pages 293-306, April.

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