The Buffeting of Thailand by the Unholy Trinity of Avian Inºuenza, Tsunami, and the Oil Price Shock
The analysis of three recent shocks to the Thai economy suggests several lessons for economic management. The adverse consequences of the external shocks dissipate when economic agents adjust their behavior to the new environment. Appropriate policy responses are crucial in shortening the duration of an economy's deviation from its pre-shock growth path. Any intervention, either in energy or exchange rate markets, to maintain fixed prices will inevitably be costly and ineffective. Any attempt to cover up a brewing crisis will destroy public confidence, aggravate the situation, and deepen the crisis. Therefore, transparency in economic management is essential. (c) 2006 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 5 (2006)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/|
|Order Information:||Web: http://www.mitpressjournals.org/loi/asep|
When requesting a correction, please mention this item's handle: RePEc:tpr:asiaec:v:5:y:2006:i:2:p:117-129. 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: (Kristin Waites)
If references are entirely missing, you can add them using this form.