Publication: Thailand's Growth Path : From Recovery to Prosperity
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Date
2006-05
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Published
2006-05
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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.
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“Richter, Kaspar. 2006. Thailand's Growth Path : From Recovery to Prosperity. Policy Research Working Paper; No. 3912. © World Bank. http://hdl.handle.net/10986/8671 License: CC BY 3.0 IGO.”
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