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Thailand's growth path : from recovery to prosperity

Author

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  • Richter, Kaspar

Abstract

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.

Suggested Citation

  • Richter, Kaspar, 2006. "Thailand's growth path : from recovery to prosperity," Policy Research Working Paper Series 3912, The World Bank.
  • Handle: RePEc:wbk:wbrwps:3912
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    References listed on IDEAS

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    1. Rodrik, Dani, 2005. "Growth Strategies," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 14, pages 967-1014 Elsevier.
    2. George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
    3. Kobsak Pootrakool & Chayawadee Chai-anant & Suchada Dedtrakool & Bannaree Pannarath, 2003. "Can We Count on Intra-regional Trade as a Source of Growth?," Working Papers 2003-03, Monetary Policy Group, Bank of Thailand.
    4. Asian Development Bank & World Bank & Japan Bank for International Cooperation, 2005. "Connecting East Asia : A New Framework for Infrastructure," World Bank Publications, The World Bank, number 7267, September.
    5. Kathie Krumm & Homi Kharas, 2004. "East Asia Integrates : A Trade Policy Agenda for Shared Growth," World Bank Publications, The World Bank, number 15038, September.
    6. Ashvin Ahuja & Thammarak Moenjak, 2002. "Economic Arrangements and Long-Term Growth in Thailand," Working Papers 2002-05, Monetary Policy Group, Bank of Thailand.
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    Cited by:

    1. Mehta, Aashish & Mohr, Belinda Acuña, 2012. "Economic Liberalization and Rising College Premiums in Mexico: A Reinterpretation," World Development, Elsevier, vol. 40(9), pages 1908-1920.
    2. World Bank, 2008. "Thailand Social Monitor on Youth : Development and the Next Generation," World Bank Other Operational Studies 8036, The World Bank.
    3. Steven Lim & Michael P. Cameron & Krailert Taweekul & John Askwith, 2007. "Harnessing the Private Sector for Rural Development, Poverty Alleviation and HIV/AIDS Prevention," Working Papers in Economics 07/01, University of Waikato.
    4. Aashish Mehta & Jesus Felipe & Pilipinas Quising & Shiela Camingue, 2013. "Where have All the Educated Workers Gone? Services and Wage Inequality in Three Asian Economies," Metroeconomica, Wiley Blackwell, vol. 64(3), pages 466-497, July.
    5. David Moore & Athanasios Vamvakidis, 2008. "Economic Growth in Croatia: Potential and Constraints," Financial Theory and Practice, Institute of Public Finance, vol. 32(1), pages 1-28.

    More about this item

    Keywords

    Economic Theory&Research; Economic Growth; Achieving Shared Growth; Investment and Investment Climate; Inequality;

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