Thailand's Macroeconomic Policies: From Crisis to Recovery

Content Provider	Semantic Scholar
Author	Bhongmakapat, Teerana
Copyright Year	2006
Abstract	This paper examines, in the case of Thailand, macro policy undertaken and experienced during the process of crisis management and economic recovery. It was argued to go through three distinct stages: (1) the early stabilization period (1997-1998) focusing on external equilibrium, resulting in excessive interest rates and falling output, (2) the gradualism period (1999-2000) with low interest rates and initial efforts at large scale debt restructuring, and (3) the Partisan Keynesian period (2001-2004) with short-term stimulus and aggressive populist programs aiming at a big recovery. Under the Thaksin government, easy credits and undervalued exchange rates might quicken short-term outcome, but would lead to inefficient growth and future slowdown. Various risks involved with such policies obviously had to be professionally
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://www.econ.tu.ac.th/oldweb/doc/article/fulltext/157.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article