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Thailand - Country economic memorandum : building on the recent success - a policy framework : Main report (Inglês)

Following a period of policy adjustment and unsteady economic performance during the first half of the 1980s, the Thai economy has achieved an impressive record of economic expansion since 1986, characterized by surging exports, narrowing fiscal and external deficits, price stability, and an investment boom. This economic boom is taking place against the backdrop of rapid structural shifts in Thailand that have made the economy distinctly export oriented and established manufacturing as the main export sector. Rice, which had been the leading export commodity of Thailand for many years was surpassed by textile products in 1985, and in two years textile exports rose to more than twice the level of rice exports. Helped by a large influx of foreign direct investment in advanced manufacturing industries, Thai manufacturers are poised to move into higher technology areas. A coincidence of the right domestic and external conditions is vital for Thailand to experience an industrial take off. Therefore, the most important economic policy question at present is how the current expansion can be sustained and converted into such an industrial take-off. This report aims to answer this question, in addition to serving the basic function of analyzing the recent economic developments.




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