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Thailand's growth path : from recovery to prosperity

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Author Info
Richter, Kaspar
Abstract

Thailand is one of the most successful developing countries. After decades of rapid growth, the economy rebounded quickly from the 1997-98 Asian crisis and is set to continue its expansion into the future. Nevertheless, there are doubts about the resilience of the Thai economy. The country appears to be on a lower growth projectory now than before the crisis. What growth can Thailand realistically expect? And what can the government do to sustain such growth into the future? Using a new methodology for identifying binding constraints to growth (Rodrik 2004 and Hausmann and others 2005), the author argues that Thailand's challenge is to maintain growth levels of 4 to 5 percent over the medium term. To achieve this goal, Thailand needs to continue its efforts of improving business infrastructure, trade integration, and skills, as well as intensifying its governance reforms.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3912.

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Date of creation: 01 May 2006
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Handle: RePEc:wbk:wbrwps:3912

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Related research
Keywords: Economic Theory&Research; Economic Growth; Achieving Shared Growth; Investment and Investment Climate; Inequality;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Psacharopoulos, George & Patrinos, Harry Anthony, 2002. "Returns to investment in education : a further update," Policy Research Working Paper Series 2881, The World Bank. [Downloadable!]
    Other versions:
  2. Barro, R.J. & Sala-I-Martin, X., 1991. "Convergence," Papers 645, Yale - Economic Growth Center.
    Other versions:
  3. Dani Rodrick, 2003. "Growth Strategies," Economics working papers 2003-17, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Steven Lim & Michael P. Cameron & Krailert Taweekul & John Askwith, 2007. "Harnessing the Private Sector for Rural Development, Poverty Alleviation and HIV/AIDS Prevention," Working Papers in Economics 07/01, University of Waikato, Department of Economics. [Downloadable!]
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