An evaluation of financial crisis in Thailand

Abstract

After implementation of the National Economic and Social Development Plan (1961-1966), Thailand experienced increasing high rates of economic growth. However by mid 1997, Thailand's economy was slipping into the so-called "Thailand financial crisis": falling property prices, slowing exports, rising trade deficits, and the devaluation of the Thai baht. This raises concern about the future. The purpose of this thesis is to examine Thai economic policies leading up to current crisis. Using hypothesis of Williamson and Haggard, the country's economic reforms will be evaluated. From these finding, several conclusions will be drawn concerning the country's economic future.