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Past, Present, and Prospects for Thailand’s Growth: A Labor Market Perspective

Author

Listed:
  • Sra Chuenchoksan

    (Bank of Thailand)

  • Don Nakornthab

    (Bank of Thailand)

Abstract

Using growth accounting and econometric estimation methodologies, we investigate Thailand’s growth developments from 1972 to 2007 and project forward Thailand’s supply-side long-term potential growth till 2035. Our analysis is framed in terms of labor productivity and labor market developments. In this respect, the macroeconomic impact of Thailand’s ageing population is also highlighted. Our findings suggest that priority should be given to the resuscitation of capital accumulation or Thailand will fall to a permanent lower growth path.

Suggested Citation

  • Sra Chuenchoksan & Don Nakornthab, 2008. "Past, Present, and Prospects for Thailand’s Growth: A Labor Market Perspective," Working Papers 2008-07, Monetary Policy Group, Bank of Thailand.
    • Handle: RePEc:bth:wpaper:2008-07
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    References listed on IDEAS

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    12. Paul Gomme & Peter Rupert, 2004. "Measuring labors share of income," Policy Discussion Papers, Federal Reserve Bank of Cleveland, issue Nov.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Choon-Seng Lim & Vincent & Min B. Shrestha, 2009. "Investment in The SEACEN Countries in The Post-Crisis Era: Issues and Challenges," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp77.
    2. Dasgupta, Sukti. & Bhula-or, Ruttiya. & Fakthong, Tiraphap., 2015. "Earnings differentials between formal and informal employment in Thailand," ILO Working Papers 994896403402676, International Labour Organization.
    3. Mr. Vladimir Klyuev, 2015. "Structural Transformation — How Does Thailand Compare?," IMF Working Papers 2015/051, International Monetary Fund.
    4. Vorada Limjaroenrat, 2016. "Firm-level Perspective of Thailand's Low Investment Puzzle," PIER Discussion Papers 42., Puey Ungphakorn Institute for Economic Research, revised Aug 2016.
    5. Surach Tanboon & Suchot Piamchol & Tanawat Ruenbanterng & Paiboon Pongpaichet, 2009. "Impacts of Financial Factors on Thailand's Business Cycle Fluctuations," Working Papers 2009-01, Monetary Policy Group, Bank of Thailand.
    6. Dilaka Lathapipat & Thitima Chucherd, 2013. "Labour Market Functioning and Thailand's Competitiveness," Working Papers 2013-03, Monetary Policy Group, Bank of Thailand.
    7. Krist Dacharux & Pornnapa Leelapornchai & Manop Udomkerdmongkol, 2009. "Thailand’s Investment in the Post-Crisis Era: Issues and Challenges," Working Papers 2009-08, Monetary Policy Group, Bank of Thailand.
    8. 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.
    9. Pisit, Puapan, 2014. "Assessment of FDI impact on Thailand's production sectors : implications for investment promotion activities," IDE Discussion Papers 443, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    10. Surach Tanboon, 2008. "The Bank of Thailand Structural Model for Policy Analysis," Working Papers 2008-06, Monetary Policy Group, Bank of Thailand.
    11. Vorada Limjaroenrat, 2016. "Firm-level Perspective of Thailand's Low Investment Puzzle," PIER Discussion Papers 42, Puey Ungphakorn Institute for Economic Research.
    12. Nakarin Amarase & Tosapol Apaitan & Kiatipong Ariyapruchya, 2013. "Thailand's Quest for Economic Growth: From Factor Accumulation to Creative Destruction," Working Papers 2013-02, Monetary Policy Group, Bank of Thailand.

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    More about this item

    Keywords

    productivity growth; growth accounting; demographic changes; Asia; Thailand;
    All these keywords.

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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