Thailand ' s growth path : from recovery to prosperity, Vol. 1 of 1

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Thailand's growth path : from recovery to prosperity

Author:	Richter, Kaspar;	Collection Title:	Policy, Research working paper ; no. WPS 3912
Country:	Thailand;	Date Stored:	2006/05/05
Document Date:	2006/05/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	East Asia and Pacific
Report Number:	WPS3912	SubTopics:	Achieving Shared Growth; Economic Theory & Research; Inequality; Economic Growth; Investment and Investment Climate
Volume No:	1 of 1

Summary: 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.


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