Past, Present, and Prospects for Thailand’s Growth: A Labor Market Perspective
AbstractUsing growth accounting and econometric estimation methodologies, we investigate Thailand’s growth developments from 1972 to 2007 and project forward Thailand’s supply-side long-term potential growth till 2035. Our analysis is framed in terms of labor productivity and labor market developments. In this respect, the macroeconomic impact of Thailand’s ageing population is also highlighted. Our findings suggest that priority should be given to the resuscitation of capital accumulation or Thailand will fall to a permanent lower growth path.
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Bibliographic InfoPaper provided by Economic Research Department, Bank of Thailand in its series Working Papers with number 2008-07.
Length: 48 pages
Date of creation: Jul 2008
Date of revision:
productivity growth; growth accounting; demographic changes; Asia; Thailand;
Find related papers by JEL classification:
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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