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Balance Sheets and Economic Recovery

Author

Listed:
  • Chirathep Senivongs na Ayudhya

    (Bank of Thailand)

  • Pornvipa Tangcharoenmonkong

    (Bank of Thailand)

  • Thitima Chucherd

    (Bank of Thailand)

Abstract

This paper assesses the current strength of balance sheets of the corporate and household sectors that together account, through private investment and consumption, for over 70 percent of the Thai economy. On the basis of the available data, it seeks to answer three questions. First, have the balance sheet conditions of corporations and households recovered fully from the crisis? Second, what are the risks associated with these sectoral balance sheets that should be monitored closely as the economy recovers? Third, how should such risks be managed and monetary policy conducted in order to facilitate medium-term sustainable growth? This paper also analyzes the important role of the financial sector in intermediating resources between corporations and households, and highlights the importance of good governance and financial market development in sustaining the economic recovery.

Suggested Citation

  • Chirathep Senivongs na Ayudhya & Pornvipa Tangcharoenmonkong & Thitima Chucherd, 2003. "Balance Sheets and Economic Recovery," Working Papers 2003-01, Monetary Policy Group, Bank of Thailand.
    • Handle: RePEc:bth:wpaper:2003-01
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    File URL: http://www.bot.or.th/Thai/EconomicConditions/Semina/symposium/Document_LipSym4346/2546_P1.pdf
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    References listed on IDEAS

    as
    1. Pettis, Michael, 2001. "The Volatility Machine: Emerging Economies and the Threat of Financial Collapse," OUP Catalogue, Oxford University Press, number 9780195143300.
    2. Yunyong Thaicharoen & Prapann Kiettikomol, 2002. "Corporate Balance Sheet Adjustment and Restructuring in Thailand," Working Papers 2002-04, Monetary Policy Group, Bank of Thailand.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Thitima Chucherd, 2006. "The Effect of Household Debt on Consumption in Thailand," Working Papers 2006-06, Monetary Policy Group, Bank of Thailand.

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