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Poverty Reduction through Long-term Growth: The Thai Experience

Author

Listed:
  • Peter Warr

    (Division of Economics, Research School of Pacific and Asian Studies, Australian National University, Canberra, ACT, Australia.)

Abstract

Thailand's impressive long-term rate of economic growth has resulted mainly from accumulation of physical capital. Total factor productivity (TFP) growth at the economy-wide level explains about one-third of the aggregate growth of output. However, this TFP growth was due entirely to resource reallocation from low-productivity sectors, especially agriculture, to higher-productivity industry and services sectors. TFP growth at the sectoral level has been important only in agriculture. Poverty has declined remarkably over time despite a steady increase in income inequality. The rate of decline in poverty incidence has been directly related to the rate of economic growth. (c) 2009 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Peter Warr, 2009. "Poverty Reduction through Long-term Growth: The Thai Experience," Asian Economic Papers, MIT Press, vol. 8(2), pages 51-76, Spring.
  • Handle: RePEc:tpr:asiaec:v:8:y:2009:i:2:p:51-76
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    References listed on IDEAS

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    1. Jorgenson, Dale W, 1988. "Productivity and Postwar U.S. Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 23-41, Fall.
    2. 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.
    3. Peter G. Warr, 1999. "What Happened to Thailand?," The World Economy, Wiley Blackwell, vol. 22(5), pages 631-650, July.
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    Cited by:

    1. Bruno Jetin & Ozan Ekin Kurt, 2016. "Functional income distribution and growth in Thailand: A post Keynesian econometric analysis," Post-Print hal-01484216, HAL.
    2. Harinder Kohli & Ashok Sharma & Anil Sood (ed.), 2011. "Asia 2050: Realizing the Asian Century," Books, Emerging Markets Forum, edition 1, number asia2050, August.
    3. Bruno Jetin, 2009. "Le développement économique de la Thaïlande est-il socialement soutenable ?," Post-Print halshs-00531674, HAL.

    More about this item

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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