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No AccessStand Alone Books1 Feb 2013Thailand's macroeconomic miracleStable adjustment and sustained growthAuthors/Editors: Peter G. Warr, Bhanupong NidhiprabhaPeter G. Warr, Bhanupong Nidhiprabhahttps://doi.org/10.1596/0-8213-2654-6SectionsAboutPDF (1.3 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In Abstract:This study resulted from a World Bank study of macroeconomic policy reviewing the recent experience of 18 countries as they tried to maintain economic stability in the face of external economic shocks like rising international prices and interest rates. The project particularly focused on the periods 1974-79, 1980-82, and 1983-90. The authors describe the performance of Thailand's economy in recent decades as stunning--it has experienced rapid growth, declining poverty, and macroeconomic stability in a volatile economic and political environment. However, they soberly conclude that the Thai experience was short of miraculous inasmuch as other countries similarly situated and equally endowed could have adopted the same macroeconomic policies and achieved the same results. This book explains that the country's policymakers, most notably the conservative bureaucrats, held attitudes that caused Thailand to avoid major mistakes. This conclusion has broad implications for the world's economic history, namely that the destabilization experienced by other countries in reaction to external shocks was not a foregone conclusion; instead it was in part a consequence of those countries' own policy responses and could have been averted. Part 1 describes the economic and political setting for Thailand's macroeconomic achievement while Part 2 examines the shocks themselves and Thailand's adjustment to them. FiguresreferencesRecommendeddetailsCited byFinancing Japan's Greater East Asia Co-Prosperity Sphere in ThailandFinancial History Review, Vol.29, No.18 March 2022Labor-Management Relations in Emerging Economies and Developing Countries30 December 2021State Restructuring and the Internationalization of Capital in Southeast Asia10 January 2019Assessing the Thai Paddy Pledging Policy: Its Performance and Social CostsWorld Food Policy, Vol.1, No.21 September 2014Weber, Marx and Contemporary ThailandTRaNS: Trans -Regional and -National Studies of Southeast Asia, Vol.1, No.213 August 2013Farming Systems and Rural Out-Migration in Nang Rong, Thailand, and Chitwan Valley, NepalRural Sociology, Vol.78, No.117 January 2013The Eastern Seaboard Development Plan of Thailand: Institutional Aspects of the Challenges and ResponsesThe Japanese View: With Particular Reference to the Shared Cognition Model in AsiaAn Integrated Analysis of Migration and Remittances: Modeling Migration as a Mechanism for SelectionPopulation Research and Policy Review, Vol.31, No.55 July 2012The IMF, the World Bank, and the Global Economic Crisis: Exploring Paradigm ContinuityDevelopment and Change, Vol.43, No.419 June 2012Migrant remittances and the web of family obligations: Ongoing support among spatially extended kin in North-east Thailand, 1984?94Population Studies, Vol.66, No.1The Struggle for Political Legitimacy in ThailandIncreasing Migration, Diverging Communities: Changing Character of Migrant Streams in Rural ThailandPopulation Research and Policy Review, Vol.29, No.52 October 2009When Notions of Legitimacy Conflict: The Case of ThailandPolitics & Policy, Vol.38, No.38 June 2010Welfare Implications of Financial Liberalization in Thailand: A Cost-Benefit Analysis10 April 2009Background, Structure and Financial Reforms10 April 2009Literature Review10 April 2009Social capital and migration: How do similar resources lead to divergent outcomes?Demography, Vol.45, No.3Real exchange rate overvaluation and currency crisis: evidence from ThailandApplied Economics, Vol.40, No.3Thailand: Legitimacy and Aid Recipient Ownership ? the Case of the Export Promotion StrategyLong-term Economic Performance in ThailandAsean Economic Bulletin, Vol.24, No.1Technological Development and Economic Growth in Indonesia and Thailand since 1950Asean Economic Bulletin, Vol.23, No.3GROWTH ECONOMETRICS IN THE TROPICS: WHAT INSIGHTS FOR SOUTHEAST ASIAN ECONOMIC DEVELOPMENT?The Singapore Economic Review, Vol.50, No.spec0121 November 2011The Scope for Fiscal Policy: A Case Study of ThailandDevelopment Policy Review, Vol.22, No.216 February 2004REFERENCES9 March 2015Crafting Thailand's new social contractThe Pacific Review, Vol.17, No.4The Politics of Economic Reform in Thailand: Crisis and CompromiseSSRN Electronic JournalBeyond the IMF Medicine: Thailand's Response to the 1997 Financial CrisisInternational Area Review, Vol.5, No.18 September 2016Economic Crisis in Asia: The Case of Thailand*Economic Geography, Vol.77, No.216 February 2009Is growth good for the poor? 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An Empirical Analysis of Macro IndicatorsSSRN Electronic JournalTesting the small‐country assumption: Thailand's rice exportsJournal of the Asia Pacific Economy, Vol.2, No.2 View Published: October 1996ISBN: 978-0-8213-2654-1 Copyright & Permissions Related RegionsEast Asia & PacificRelated CountriesThailandRelated TopicsFinance and Financial Sector DevelopmentPrivate Sector Development KeywordsMACROECONOMICSECONOMIC STABILIZATIONSTRUCTURAL ADJUSTMENTECONOMIC GROWTHCASE STUDIESPUBLIC SECTORFISCAL POLICYMONETARY POLICYEXCHANGE RATE POLICYEXTERNAL SHOCKSCAPITAL MARKETSPOLITICAL PROBLEMSBALANCE OF PAYMENTSDEBTEXCHANGE RATEEXTERNAL SHOCKSINCOMEINFLATIONINTEREST RATEINTERNATIONAL PRICEMONETARY POLICYWAGES PDF DownloadLoading ...
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