Information about Asia and the Pacific Asia y el Pacífico
Front Matter

Front Matter

David Robinson, Ranjit Teja, Yangho Byeon, and Wanda Tseng
Published Date:
September 1991
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Information about Asia and the Pacific Asia y el Pacífico
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Thailand: Adjusting to Success Current Policy Issues

David Robinson, Yangho Byeon, and Ranjit Teja with Wanda Tseng


Washington, D.C.

August 1991

© 1991 International Monetary Fund

Library of Congress Cataloging-in-Publication Data

Robinson, David, 1958–

Thailand : adjusting to success : current policy issues / by David

Robinson, Yangho Byeon, and Ranjit Teja with Wanda Tseng.

p. cm. — (Occasional paper I International Monetary Fund,

ISSN 0251-6365 ; 85)

Includes bibliographical references.

ISBN 1-55775-221-4

1. Thailand—Economic policy. 2. Fiscal policy—Thailand. 3. Finance—Thailand. 4. Thailand—Commercial policy. I. Byeon, Yangho. 1954–. II. Teja, Ranjit, 1958– . III. Title. IV. Series: Occasional paper (International Monetary Fund); no. 85.

HC445.R63 1991

338.9593—dc20 91-27934


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The following symbols have been used throughout this paper:

  • … to indicate that data are not available;

  • — to indicate that the figure is zero or less than half the final digit shown, or that the item docs not exist;

  • – between years or months (e.g., 1990–41 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

  • / between years (e.g., 1990/91) lo indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to rounding.

The term “country.” as used in this paper, does not in all cases refer to a territorial entity that is a slate as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


The 1991 Annual Meetings of the Board of Governors of the International Monetary Fund and the World Bank in Bangkok provide a good occasion for a review of Thailand’s recent economic development and prospects. This paper is based largely on documentation prepared in connection with the 1991 Article IV consultation with Thailand.

The authors would like to acknowledge the assistance and warm hospitality extended to them by the Thai authorities, particularly the staff of the Bank of Thailand, They also wish to express their gratitude to P.R. Narvekar, who originally suggested the idea of an Occasional Paper, and to Linda M. Koenig, who directed the initial work: and to record their appreciation to Melanie Dieckman, Natalie [[airfield, and Noy Siackhachanh for research assistance, to Rosanne Heller of the Asian Department and to Elin Knotter of the External Relations Department for editorial comments and advice, and to Ollie Goodger, Florence Lee, and Molly Singh for secretarial support. While the paper has benefited from comments and suggestions both from the Thai authorities and from colleagues in the Fund and the World Bank, any opinions expressed are those of the authors alone and do not necessarily reflect the views of the Thai authorities. Executive Directors of the IMF, or other IMF staff members. The authors bear sole responsibility for any factual errors.

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