Thailand - The Currency Crisis and Beyond
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Case Code: ECOA105 Case Length: 12 Pages Period: 2003 Pub Date: 2003 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : Thailand, Asia Themes: - |
Abstract Case Intro 1 Excerpts
Excerpts
Background Note
Thailand was known in ancient times as Siam. In 1932, young army officers and civilians replaced the absolute monarchy with a constitutional one. This set the tone for seven decades of mostly military rule and frequent coups...
Economic Policies
Till 1980, the baht had been pegged to the dollar. The Central Bank had little control over monetary policy. But the Bank was able to control inflation through interest rate regulation, credit, bonds and capital controls...
The Industry
By the 1970s, the active promotion of foreign investment had already created an industrial sector based on import substitution. In the 1980s, an export-oriented manufacturing sector, based on labor-intensive items such as textiles and garments, began to develop. After 1990, the fastest growth was in high-tech goods like computer accessories and motor vehicle parts...
Foreign Trade
Exports had played a crucial role in Thailand's development. In the 1970s, government policies began to emphasize export-led growth, though these measures were only moderately effective until the 1980s...
Social Policies
In the 1960s, Thailand pursued strategies to increase equity and social services, create employment in rural areas, and increase access to education. The poorer segment consisted mostly of rural agricultural workers...
Future Outlook
If the world economy picked up quickly, and Thailand's exports and tourist trade rose with it, the debt problem would marginally reduce the country's growth. But the government was worried that a gloomy global outlook, higher public spending and lingering debts might send Thailand into a prolonged deflationary spiral like that of Japan...
Exhibits
Exhibit I: Thailand: The Economy at a Glance
Exhibit II: Thailand: Economic Data
Exhibit III: Comparative Economic Indicators, 2001
Exhibit IV: Thailand: Profile of International Trade
Exhibit V: Thailand: Forecast Summary
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