Thailand's growth path : from recovery to prosperity
Thailand is one of the most successful developing countries. After decades of rapid growth, the economy rebounded quickly from the 1997-98 Asian crisis and is set to continue its expansion into the future. Nevertheless, there are doubts about the resilience of the Thai economy. The country appears to be on a lower growth projectory now than before the crisis. What growth can Thailand realistically expect? And what can the government do to sustain such growth into the future? Using a new methodology for identifying binding constraints to growth (Rodrik 2004 and Hausmann and others 2005), the author argues that Thailand's challenge is to maintain growth levels of 4 to 5 percent over the medium term. To achieve this goal, Thailand needs to continue its efforts of improving business infrastructure, trade integration, and skills, as well as intensifying its governance reforms.
|Date of creation:||01 May 2006|
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- Rodrik, Dani, 2005.
Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 14, pages 967-1014
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- Ashvin Ahuja & Thammarak Moenjak, 2002. "Economic Arrangements and Long-Term Growth in Thailand," Working Papers 2002-05, Economic Research Department, Bank of Thailand. Full references (including those not matched with items on IDEAS)
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