Publication: 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.
“Richter, Kaspar. 2006. Thailand's Growth Path : From Recovery to Prosperity. Policy Research Working Paper; No. 3912. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/ffb65f88-0c6a-5592-b6b8-2c52353e56dd License: CC BY 3.0 IGO.”
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