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An Analysis of Public Infrastructure Investment and the Thai Economy

In: Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)

Author

Listed:
  • Qingyang Deng

    (Capital University of Economics and Business, Department of Economics)

  • Xingchi Li

    (Central University of Finance and Economics, China Academy of Public Finance and Public Policy)

Abstract

The main objective of this paper is to investigate the impact of the policies of heavy investment and expansion in public infrastructure deployed by the Thai government on Thai economic growth and government debt between 1997 and 2007. It employs the method of detrending the Thai economic data and analyzing the correlation between the Thai GDP, gross fixed capital formation, and central government debt. The findings showed that the public infrastructure investment and expansion were generally positive and beneficial to Thai economic growth, and did not lead Thailand to the massive build-up of government debt, because the development in the economy improved the government’s financial situation. These results imply that policies for improving public infrastructure investment and expansion should be promoted to further develop the economy and achieve stable growth.

Suggested Citation

  • Qingyang Deng & Xingchi Li, 2023. "An Analysis of Public Infrastructure Investment and the Thai Economy," Advances in Economics, Business and Management Research, in: Yushi Jiang & Guangming Li & Wilson Xinbao Li (ed.), Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), pages 412-418, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-142-5_46
    DOI: 10.2991/978-94-6463-142-5_46
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