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Analysing the sources of growth in an emerging market economy: the Thailand experience

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  • Sin-Yu Ho

Abstract

This paper investigates the sources of economic growth in Thailand during the period 1975 to 2014. The results show that, in the long run, human capital and inflation exert a positive and significant impact on output, while foreign direct investment and foreign aid have negative and significant impact on output. The results also show that, in the short run, physical capital, labour and human capital have a positive and significant impact on growth, while the initial level of human capital, government expenditure, the initial level of inflation, foreign direct investment and foreign aid have a negative and significant impact on growth. Based on these findings, we offer some policy implications.

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  • Sin-Yu Ho, 2018. "Analysing the sources of growth in an emerging market economy: the Thailand experience," International Journal of Sustainable Economy, Inderscience Enterprises Ltd, vol. 10(4), pages 340-359.
    • Handle: RePEc:ids:ijsuse:v:10:y:2018:i:4:p:340-359
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    4. Mandeya Shelton M.T & Ho Sin-Yu, 2022. "Inflation, Inflation Uncertainty and the Economic Growth Nexus: A Review of the Literature," Folia Oeconomica Stetinensia, Sciendo, vol. 22(1), pages 172-190, June.
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    More about this item

    Keywords

    sources of growth; Thailand; ARDL bounds testing.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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