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Creating Markets in Thailand : Rebooting Productivity for Resilient Growth (Inglês)

Thailand’s initial strong economic growth after the 2008 global financial crisis, and its subsequent plateauing as a middle-income tier economy, is well-documented, and a rich body of previous analyses have provided recommendations for how Thailand can jumpstart its attempt to become a high-income economy. The World Bank Group’s Thailand Country Private Sector Diagnostic (CPSD) endeavors to build on this work by focusing on the private sector’s contribution to that vision of high growth, which assumes an even higher priority now, given the impact COVID-19 has had on the economy. This CPSD argues that addressing existing investment constraints and implementing an innovation- and knowledge-led growth model, are two actionable projects Thailand urgently needs in order to adjust the trajectory of its current path of economic growth toward high-income status. This model also could create a powerful pathway to generating high-quality jobs by moving workers into high-productivity sectors, and to increasing the participation of women in the labor force by adopting new technologies. The CPSD sets out specific private investment opportunities that could create innovative markets and generate sustainable growth, but also identifies the constraints that might impede the realization of those opportunities. In providing recommendations for addressing these constraints, the CPSD underscores the importance of specific interventions that should become prominent in the reform agenda.

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