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.

Bibliographic Details

Main Author:	Richter, Kaspar
Format:	Policy Research Working Paper biblioteca
Language:	English
Published:	World Bank, Washington, DC 2006-05
Subjects:	AGRICULTURAL GROWTH, AGRICULTURAL SECTOR, AGRICULTURE, AVERAGE ANNUAL, CAPACITY UTILIZATION, CAPITAL ACCUMULATION, CAPITAL FLOWS, CAPITAL INFLOWS, CAPITAL INVESTMENT, CAPITAL MARKET, CAPITAL STOCK, CAPITAL-LABOR, CAPITAL-LABOR RATIOS, CENTRAL BANK, COMMODITIES, COMPARATIVE ADVANTAGE, COMPETITIVENESS, CONSTANT PRICES, DEBT, DECISION TREE, DEVALUATION, DEVELOPING COUNTRIES, ECONOMIC ACTIVITY, ECONOMIC EXPANSION, ECONOMIC GROWTH, ECONOMIC PRIORITIES, EXCHANGE RATE, EXCHANGE RATE POLICY, EXCHANGE RATES, EXPENDITURES, EXPORT GROWTH, EXPORT TAXES, EXPORTS, FACTOR ACCUMULATION, FOREIGN CAPITAL, FOREIGN OWNERSHIP, FOREIGN SAVINGS, FREE TRADE, GDP, GLOBAL ECONOMY, GROSS DOMESTIC PRODUCT, GROWTH ACCOUNTING, GROWTH DIAGNOSTICS, GROWTH EPISODE, GROWTH EPISODES, GROWTH PATH, GROWTH PERFORMANCE, GROWTH PERIOD, GROWTH RATE, GROWTH RATES, HEAVY INVESTMENT, HIGH GROWTH, HUMAN CAPITAL, INCOME LEVELS, INCOME PER CAPITA, INDUSTRIALIZATION, INTENSIVE GROWTH, INTEREST RATES, INVESTMENT BEHAVIOR, INVESTMENT CLIMATE, INVESTMENT INCENTIVES, INVESTMENT RATES, LABOR DEMAND, LABOR FORCE, LABOR MARKET, LABOR PRODUCTIVITY, LABOR SUPPLY, LOW INCOME, LOW INFLATION, MACROECONOMIC POLICY, MEDIUM TERM, MONETARY POLICIES, NATIONAL INCOME, NATURAL RESOURCES, NEGATIVE GROWTH, NOMINAL INTEREST RATES, OUTPUT GROWTH, OUTPUT RATIO, PER CAPITA GROWTH, PER CAPITA GROWTH RATE, PER CAPITA INCOME, PER CAPITA INCOME LEVEL, POINT ESTIMATES, POLICY RESEARCH, PORTFOLIO, PORTFOLIO INVESTMENTS, POVERTY REDUCTION, POWER PARITY, PRIVATE CAPITAL, PRIVATE CONSUMPTION, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SECTOR, PRODUCTIVITY, PROFITABILITY, PUBLIC CONSUMPTION, PUBLIC INVESTMENT, PURCHASING POWER, RAPID GROWTH, REAL EXCHANGE RATE, REAL GROWTH, REAL OUTPUT, RELATIVE LABOR, RELATIVE LABOR DEMAND, RELATIVE WAGES, SECTORAL COMPOSITION, SHADOW PRICES, SHARP FALL, SOCIAL OUTCOMES, SOCIAL SECURITY, SOCIAL SPENDING, STRUCTURAL CHANGE, TARIFF BARRIERS, TECHNOLOGICAL PROGRESS, TFP, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TRADABLE SECTORS, TRADE BALANCE, TRADE COMPETITIVENESS, TRADE LIBERALIZATION, URBAN AREAS, VALUE ADDED, WAGES, WORLD TRADE ORGANIZATION,
Online Access:	http://documents.worldbank.org/curated/en/2006/05/6770835/thailands-growth-path-recovery-prosperity http://hdl.handle.net/10986/8671
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