Financial Restructuring and Economic Growth in Thailand
After a sharp downturn in 1998, the Thai economy has up until 2003 registered a strong growth. There has also been a significant increase in exports as a percentage of the gross domestic product (GDP). While examining the performance of the Thai economy, this paper pays special attention to the factors that contributed to the Asian financial crisis of 1997-1998. Owing to increased financial rather than trade liberalization facilitated by improvements in communications technology, it is virtually impossible to eliminate the possibility of crises in the future. Through sound macro-economic management polices it is however possible to reduce the frequency of crises and their subsequent impact on the real economy. This paper suggests policies that may help to reduce the risk of similar crises in the future.
Volume (Year): 35 (2006)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RGER20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RGER20|
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.:
- David Vines & Peter Warr, 2003.
"Thailand's investment-driven boom and crisis,"
Oxford Economic Papers,
Oxford University Press, vol. 55(3), pages 440-466, July.
- Pablo Bustelo & Clara Garcia & Iliana Olivie, 1999. "Global and Domestic Factors of Financial Crises in Emerging Economies: Lessons from the East Asian Episodes (1997-1999)," Working Papers 002, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
- Graham Bird & Dane Rowlands, 2003. "Political Economy Influences Within the Life-Cycle of IMF Programmes," The World Economy, Wiley Blackwell, vol. 26(9), pages 1255-1278, 09.
- Ronald McKinnon & Gunther Schnabl, 2004.
"The Return to Soft Dollar Pegging in East Asia. Mitigating Conflicted Virtue,"
0406007, EconWPA, revised 07 Jul 2004.
- Ronald McKinnon & Gunther Schnabl, 2004. "The Return to Soft Dollar Pegging in East Asia: Mitigating Conflicted Virtue," International Finance, Wiley Blackwell, vol. 7(2), pages 169-201, 07.
- Corsetti, Giancarlo & Pesenti, Paolo & Roubini, Nouriel, 1999.
"What caused the Asian currency and financial crisis?,"
Japan and the World Economy,
Elsevier, vol. 11(3), pages 305-373, October.
- Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis?," Temi di discussione (Economic working papers) 343, Bank of Italy, Economic Research and International Relations Area.
- Corsetti, G. & Pesenti, P. & Roubini, N., 1998. "What Caused the Asian Currency and Financial Crisis?," Papers 343, Banca Italia - Servizio di Studi.
- Bustelo, Pablo, 2000. "Novelties of financial crises in the 1990s and the search for new indicators," Emerging Markets Review, Elsevier, vol. 1(3), pages 229-251, November.
- Paul R. Bergin, 2003. "Devaluations and Consumption Smoothing," Review of International Economics, Wiley Blackwell, vol. 11(5), pages 875-884, November.
- Anne Krueger, 2003. "Sovereign Debt Restructuring: Messy or Messier?," American Economic Review, American Economic Association, vol. 93(2), pages 70-74, May.
- Rachada Dhnadirek & John Tang, 2003. "Corporate Governance Problems in Thailand: Is Ownership Concentration the Cause?," Asia Pacific Business Review, Taylor & Francis Journals, vol. 10(2), pages 121-138, December.
- Guillermo Calvo & Frederic S. Mishkin, 2003.
"The Mirage of Exchange Rate Regimes for Emerging Market Countries,"
NBER Working Papers
9808, National Bureau of Economic Research, Inc.
- Guillermo A. Calvo & Frederic S. Mishkin, 2003. "The Mirage of Exchange Rate Regimes for Emerging Market Countries," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 99-118, Fall.
- Eduardo Borensztein & Jose De Gregorio & Jong-Wha Lee, 1995.
"How Does Foreign Direct Investment Affect Economic Growth?,"
NBER Working Papers
5057, National Bureau of Economic Research, Inc.
- Borensztein, E. & De Gregorio, J. & Lee, J-W., 1998. "How does foreign direct investment affect economic growth?1," Journal of International Economics, Elsevier, vol. 45(1), pages 115-135, June.
- Chang, Ha-Joon, 2000. "The Hazard of Moral Hazard: Untangling the Asian Crisis," World Development, Elsevier, vol. 28(4), pages 775-788, April.
- Graham Bird & Ramkishen S. Rajan, 2004. "Does devaluation lead to economic recovery or contraction? Theory and policy with reference to Thailand," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(2), pages 141-156.
- Jenny Corbett & David Vines, 1999. "Asian Currency and Financial Crises: Lessons from Vulnerability, Crisis and Collapse," The World Economy, Wiley Blackwell, vol. 22(2), pages 155-177, 03.
- Prema-chandra Athukorala, 2003. "FDI in Crisis and Recovery: Lessons from the 1997-98 Asian Crisis," Departmental Working Papers 2003-04, The Australian National University, Arndt-Corden Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:taf:glecrv:v:35:y:2006:i:1:p:113-127. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.