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The External Financing of Thailand's Imports (Special Series on Mixed Credits, in Collaboration with ICEPS)

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  • Supote Chunanunthathum

Abstract

This study has three basic objectives. First, it estimates the subsidy rates for the officially supported external financing received by the Thai public sector. Second, it attempts to provide some analysis of the impact of this concessional funding on the domestic allocation of resources. Third, it aims to estimate the supply and demand functions for the officially supported export credits received by Thailand from 1976 to 1985.A relatively detailed review of the period from 1975 to 1985 revealed a deteriorating external debt situation for Thailand. External public debt rose from a low of US$900 million in 1973 to US$12.8 billion in 1985 with comparable public debt service ratios of 2.9 per cent and 11 per cent, respectively. This occurred despite the customary conservative external borrowing policy of the Thai government and its centralized administrative control of public debt creation.Concessional ODA financing averaged 21 per cent of total net financial flows in ... Les objectifs principaux de cette étude sont au nombre de trois : d’abord établir les taux de subvention sur les financements extérieurs reçus par le secteur public thaïlandais, ensuite tenter de fournir une analyse des impacts de ces crédits subventionnés sur l’allocation interne des ressources; enfin, viser à définir des fonctions d’offre et de demande s’appliquant à ces crédits à l’exportation reçus par la Thaïlande au cours de la période allant de 1976 à 1985.Un examen relativement détaillé de cette période 1975-1985 a révélé une aggravation de la dette extérieure de la Thaïlande. La dette extérieure publique est ainsi passée d’un faible niveau de 900 millions de dollars en 1973 à celui de 12.8 milliards en 1985 avec une hausse correspondante du coût du service de la dette rapporté aux exportations de 2.9 pour cent et de 11 pour cent respectivement. Cette détérioration s’est produite malgré une politique généralement prudente en matière d’emprunt extérieur de la part du ...

Suggested Citation

  • Supote Chunanunthathum, 1991. "The External Financing of Thailand's Imports (Special Series on Mixed Credits, in Collaboration with ICEPS)," OECD Development Centre Working Papers 45, OECD Publishing.
  • Handle: RePEc:oec:devaaa:45-en
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    File URL: http://dx.doi.org/10.1787/086838577183
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