Post-crisis Export Performance in Thailand
AbstractThis paper examines post-crisis export performance in Thailand against the backdrop of pre-crisis experience and ongoing changes in patterns of international production. Following a stage-setting survey of trends and patterns of export performance over the past four decades, it focuses on two key themes central to the current policy debate, namely the implications of China's emergence as a key player in world markets in labour intensive manufactured goods and the link between the crisis-propelled real exchange rate depreciation and export performance. There is strong evidence to suggest that the 'China fear' is vastly exaggerated. Real exchange rate depreciation has been a significant determinant of the post-crisis export recovery. However, the growing importance in the export composition of parts and components within vertically integrated cross-border production processes has tended to weaken the nexus of real exchange rate and export growth.
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Bibliographic InfoPaper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2004-04.
Length: 35 pages
Date of creation: Mar 2004
Date of revision:
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export performance; real exchange rate; product fragmentation;
Find related papers by JEL classification:
- F10 - International Economics - - Trade - - - General
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
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- Athukorala, Prema–Chandra & Menon, Jayant, 2010. "Global Production Sharing, Trade Patterns, and Determinants of Trade Flows in East Asia," Working Papers on Regional Economic Integration 41, Asian Development Bank.
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- Jongwanich, Juthathip, 2009. "Equilibrium Real Exchange Rate, Misalignment, and Export Performance in Developing Asia," ADB Economics Working Paper Series 151, Asian Development Bank.
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