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Poverty Reduction through Long-term Growth: The Thai Experience

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  • Peter Warr

    (Division of Economics, Research School of Pacific and Asian Studies, Australian National University, Canberra, ACT, Australia.)

Abstract

Thailand's impressive long-term rate of economic growth has resulted mainly from accumulation of physical capital. Total factor productivity (TFP) growth at the economy-wide level explains about one-third of the aggregate growth of output. However, this TFP growth was due entirely to resource reallocation from low-productivity sectors, especially agriculture, to higher-productivity industry and services sectors. TFP growth at the sectoral level has been important only in agriculture. Poverty has declined remarkably over time despite a steady increase in income inequality. The rate of decline in poverty incidence has been directly related to the rate of economic growth. (c) 2009 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Peter Warr, 2009. "Poverty Reduction through Long-term Growth: The Thai Experience," Asian Economic Papers, MIT Press, vol. 8(2), pages 51-76, Spring.
    • Handle: RePEc:tpr:asiaec:v:8:y:2009:i:2:p:51-76
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    References listed on IDEAS

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    1. Jorgenson, Dale W, 1988. "Productivity and Postwar U.S. Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 23-41, Fall.
    2. David Vines & Peter Warr, 2003. "Thailand's investment-driven boom and crisis," Oxford Economic Papers, Oxford University Press, vol. 55(3), pages 440-466, July.
    3. Peter G. Warr, 1999. "What Happened to Thailand?," The World Economy, Wiley Blackwell, vol. 22(5), pages 631-650, July.
    4. Mr. David Robinson & Mr. Ranjit S Teja & Yangho Byeon & Ms. Wanda S Tseng, 1991. "Thailand: Adjusting to Success: Current Policy Issues," IMF Occasional Papers 1991/014, International Monetary Fund.
    5. Roong Poshyananda Mallikamas & Yunyong Thaicharoen & Daungporn Rodpengsangkaha, 2003. "Investment Cycles, Economic Recovery and Monetary Policy," Working Papers 2003-04, Monetary Policy Group, Bank of Thailand.
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    Cited by:

    1. Bruno Jetin & Ozan Ekin Kurt, 2016. "Functional income distribution and growth in Thailand: A post Keynesian econometric analysis," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 39(3), pages 334-360, July.
    2. Prema-chandra Athukorala, 2021. "Asian economic development: A primer," Departmental Working Papers 2021-07, The Australian National University, Arndt-Corden Department of Economics.
    3. Hery Ferdinan, 2013. "The impact of technological growth on economic performance in Indonesia," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 5(1), pages 15-24, April.
    4. Siwarat Kuson & Songsak Sriboonchitta & Peter Calkins, 2012. "Household determinants of poverty in Savannakhet, Laos: Binary choice model approach," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 1(3), pages 33-52, September.
    5. Harinder Kohli & Ashok Sharma & Anil Sood (ed.), 2011. "Asia 2050: Realizing the Asian Century," Books, Emerging Markets Forum, edition 1, number asia2050, Summer.
    6. Bruno Jetin, 2009. "Le développement économique de la Thaïlande est-il socialement soutenable ?," Post-Print halshs-00531674, HAL.
    7. Somchai Jitsuchon, 2014. "Income Inequality, Poverty And Labor Migration In Thailand," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 59(01), pages 1-16.

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    More about this item

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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