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Thailand's growth path : from recovery to prosperity

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  • Richter, Kaspar

Abstract

Thailand is one of the most successful developing countries. After decades of rapid growth, the economy rebounded quickly from the 1997-98 Asian crisis and is set to continue its expansion into the future. Nevertheless, there are doubts about the resilience of the Thai economy. The country appears to be on a lower growth projectory now than before the crisis. What growth can Thailand realistically expect? And what can the government do to sustain such growth into the future? Using a new methodology for identifying binding constraints to growth (Rodrik 2004 and Hausmann and others 2005), the author argues that Thailand's challenge is to maintain growth levels of 4 to 5 percent over the medium term. To achieve this goal, Thailand needs to continue its efforts of improving business infrastructure, trade integration, and skills, as well as intensifying its governance reforms.

Suggested Citation

  • Richter, Kaspar, 2006. "Thailand's growth path : from recovery to prosperity," Policy Research Working Paper Series 3912, The World Bank.
    • Handle: RePEc:wbk:wbrwps:3912
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    References listed on IDEAS

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    Cited by:

    1. World Bank, 2008. "Thailand Social Monitor on Youth : Development and the Next Generation," World Bank Publications - Reports 8036, The World Bank Group.
    2. Steven Lim & Michael P. Cameron & Krailert Taweekul & John Askwith, 2007. "Harnessing the Private Sector for Rural Development, Poverty Alleviation and HIV/AIDS Prevention," Working Papers in Economics 07/01, University of Waikato.
    3. Aashish Mehta & Jesus Felipe & Pilipinas Quising & Shiela Camingue, 2013. "Where have All the Educated Workers Gone? Services and Wage Inequality in Three Asian Economies," Metroeconomica, Wiley Blackwell, vol. 64(3), pages 466-497, July.
    4. Mehta, Aashish & Mohr, Belinda Acuña, 2012. "Economic Liberalization and Rising College Premiums in Mexico: A Reinterpretation," World Development, Elsevier, vol. 40(9), pages 1908-1920.
    5. David Moore & Athanasios Vamvakidis, 2008. "Economic Growth in Croatia: Potential and Constraints," Financial Theory and Practice, Institute of Public Finance, vol. 32(1), pages 1-28.

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    Keywords

    Economic Theory&Research; Economic Growth; Achieving Shared Growth; Investment and Investment Climate; Inequality;
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