Chapter

Thailand’s Growth Rebalancing

Somchai Jitsuchon and Chalongphob Sussangkarn

in The Global Financial Crisis and Asia

Published in print October 2012 | ISBN: 9780199660957
Published online January 2013 | e-ISBN: 9780191748981 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199660957.003.0010
Thailand’s Growth Rebalancing

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This chapter discusses the impacts of the global financial crisis on the Thai economy and the policy responses. Against the backdrop of a slowly growing global economy in the future, the chapter suggests that Thailand seriously re-think about rebalancing its economy so as to increase its resilience to external shocks. One option is to develop a strategy to increase domestic investment, which will have to be mainly public investment as the private sector has been considerably weakened by the crisis. Another option is to raise productivity by improving human capital rather than by relying on accumulating imported capital which has proven to be unsustainable in the long-term.

Keywords: Thai economy; rebalancing growth; financial crisis; impact of Crisis; policy response; exports

Chapter.  7567 words.  Illustrated.

Subjects: Financial Markets

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