Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53733 
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dc.contributor.authorSussangkarn, Chalongphoben
dc.contributor.authorNikomborirak, Deundenen
dc.date.accessioned2011-04-04-
dc.date.accessioned2011-12-15T12:27:46Z-
dc.date.available2011-12-15T12:27:46Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/53733-
dc.description.abstractSince the Asian financial crisis in 1997, Thailand has become highly dependent on export as the engine of economic recovery and growth. In 2008, the ratio of export to gross domestic product (GDP) was 76.5%. The global economic crisis triggered by the sub-prime loans debacle in the United States has prompted Thailand to rethink her export-led growth strategy. Year-on-year export growth plunged from a positive 22.7% in the third quarter of 2008 to a negative 7.75% in the fourth quarter and remained negative for another four quarters, leading to a negative growth of GDP for five consecutive quarters. This paper examines the options for external and internal economic rebalancing strategies for Thailand. External rebalancing will require Thailand to rely less on the US market for her exports. The paper thus examines the possibility of promoting greater regional trade by means of trade agreements and exchange rate coordination. As for internal rebalancing, the paper emphasizes the need to boost domestic public and private investment in terms of both quantity and quality in order to narrow the current savings' investment gap, bearing in mind the need to ensure fiscal sustainability. Finally, the paper examines broader rebalancing strategies that will help Thailand to become less dependent on exports. These include the need to (1) improve productivity by means of technological acquisition, innovation, and skills development; (2) increase economic efficiency by exposing the non-traded sectors, in particular the service sector, to greater competitive pressures; (3) deepen the production structure and create new dynamic industries; and (4) generate new growth poles.en
dc.language.isoengen
dc.publisher|aAsian Development Bank Institute (ADBI) |cTokyoen
dc.relation.ispartofseries|aADBI Working Paper |x273en
dc.subject.jelE21en
dc.subject.jelE22en
dc.subject.jelE65en
dc.subject.jelE66en
dc.subject.jelF31en
dc.subject.jelF40en
dc.subject.jelH54en
dc.subject.jelH60en
dc.subject.ddc330en
dc.subject.stwExportinduziertes Wachstumen
dc.subject.stwWirtschaftskriseen
dc.subject.stwAußenhandelseffekten
dc.subject.stwWirtschaftliche Anpassungen
dc.subject.stwWirkungsanalyseen
dc.subject.stwThailanden
dc.titleTrans-Pacific rebalancing: Thailand case study-
dc.typeWorking Paperen
dc.identifier.ppn655731857en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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