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Economic impact of agro-industrial sector on nationwide economy of Thailand: A general equilibrium approach

Author

Listed:
  • Orakanya Kanjanatarakul

    (Rajamangala University of Technology Lanna Chiang Mai)

  • Komsan Suriya

    (Chiang Mai University)

Abstract

This study uses the computable general equilibrium model, KS-CGE version 2012 Type III, with the social accounting matrix of Thailand in 2010 to investigate the economic impact of the agro-industrial sector on the economy of Thailand. It simulates three scenarios: the expansionary household consumption on specific sectors, the expansionary government subsidy and the expansionary government spending into specific sectors. In the first scenario, the agro-industrial sector yields the second highest economic impact after the service sector. This is because the large backward linkages of the agro-industrial sector to other sectors. For the second scenario, the expansionary government subsidy into the agro-industrial sector in terms of cash creates the second highest economic impact after the sector of metal, metal products and industries. For the third scenario, the expansionary government spending into the agro-industrial sector yields only small economic impact. The government spending into the service sector produces much more economic impact because the trading value between the service sector and the government is much higher than that of agro-industrial sector.

Suggested Citation

  • Orakanya Kanjanatarakul & Komsan Suriya, 2012. "Economic impact of agro-industrial sector on nationwide economy of Thailand: A general equilibrium approach," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 1(4), pages 61-66, December.
    • Handle: RePEc:chi:journl:v:1:y:2012:i:4:p:61-66
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    Citations

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    Cited by:

    1. Chanita Panmanee & Aree Cheamuangphan & Kasem Kunasri, 2013. "Consumer preferences, willingness to pay and ability to pay for fresh organic vegetables in Chiang Mai province," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 2(1), pages 29-42, March.
    2. Sudtasan, Tatcha & Suriya, Komsan, 2014. "CGE modeling of the impact of skilled labor movements in ASEAN Economic Community focusing on telecommunication industry," MPRA Paper 54057, University Library of Munich, Germany.

    More about this item

    Keywords

    Agro-industrial sector; economic impact; general equilibrium model; household consumption; government subsidy and spending;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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