IDEAS home Printed from https://ideas.repec.org/a/taf/glecrv/v32y2003i2p59-90.html
   My bibliography  Save this article

Changes of Thai economy since 1970 1

Author

Listed:
  • Kiwon Kang

Abstract

Within the last 30 years, the number of Thai population increased from 35 million to 62 million, the general price level went up 6 times, and Thai currency baht devaluated 2.2 times against the dollar. The industrial production increased 36 times nominally. The biggest industry of Thailand changed from agriculture to manufacture, and the total value of exports jumped by 192 times and that of imports grew by 95 times. Thai current account balance had recorded a deficit every year from 1970 to 1996. During the same period of time, however, the capital account balance had shown surplus. The inflow of foreign capital was the only stronghold of Thai economy at that time. In 1997, Thailand suddenly experienced a total change of its external environment From then on, Thai current account shifted from a deficit to a surplus and Thai capital account turned from a surplus to a deficit. The conclusion of this paper indicates that the future of Thai economy is heavily dependent on whether the amount of surplus in Thai current account could surpass the deficit in Thai capital account

Suggested Citation

  • Kiwon Kang, 2003. "Changes of Thai economy since 1970 1," Global Economic Review, Taylor & Francis Journals, vol. 32(2), pages 59-90.
    • Handle: RePEc:taf:glecrv:v:32:y:2003:i:2:p:59-90
    DOI: 10.1080/12265080308422918
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/12265080308422918
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/12265080308422918?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:glecrv:v:32:y:2003:i:2:p:59-90. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RGER20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.