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

Front Matter

Erik Offerdal, Kalpana Kochhar, Louis Dicks-Mireaux, Jianping Zhou, Mauro Mecagni, and Balázs Horváth
Published Date:
December 1996
  • ShareShare
Information about Asia and the Pacific Asia y el Pacífico
Show Summary Details

Thailand The Road to Sustained Growth

Kalpana Kochhar, Louis Dicks-Mireaux, Balazs Horvath, Mauro Mecagni, Erik Offerdal, and Jianping Zhou


Washington, D.C.

December 1996

© 1996 International Monetary Fund

Library of Congress Cataloging-in-Publication Data

Thailand : the road to sustained growth / Kalpana Kochhar … [et al.].

p. cm. — (Occasional paper ; no. 146)

Includes bibliographic references (p.).

ISBN 1-55775-603-1

1. Structural adjustment (Economic policy)—Thailand. 2. Thailand— Economic policy. 3. Thailand—Economic conditions I. Kochhar, Kalpana. II. Series: Occasional paper (International Monetary Fund);

no. 146.

HC445.T44997 1996




Price: US$15.00

(US$12.00 to full-time faculty members and students at universities and colleges)

Please send orders to:

International Monetary Fund, Publication Services

700 19th Street, N.W., Washington, D.C. 20431, U.S.A.

Tel.: (202) 623-7430 Telefax: (202) 623-7201


recycled paper


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 does not exist;

  • – between years or months (for example, 1991-92 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

  • / between years (for example, 1991/92) to 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 state 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.


Only thirty years ago, Thailand was among the world’s poorest economies. In the period since the mid-1960s, the Thai economy has witnessed remarkably strong and resilient growth despite several adverse shocks. This paper, prepared by staff in the Policy Development and Review Department, is one of the country studies completed as input to Reinvigorating Growth in Developing Countries: Lessons from Adjustment Policies in Eight Economies, Occasional Paper 139, which examines the response of growth and investment to adjustment policies since the early 1970s. The latter study was also prepared by a staff team in the Policy Development and Review Department, led by David Goldsbrough.

The authors of the present study would like to acknowledge the valuable input and guidance of David Goldsbrough and the helpful suggestions from Susan Schadler, Ken Bercuson, Sharmini Coorey, and Elie Canetti. Kadima Kalonji provided outstanding research assistance, and Olivia Carolin and Fernanda Gusmao provided excellent secretarial assistance. The authors are also grateful to James McEuen of the External Relations Department, who edited the paper and coordinated its publication.

The views expressed here, as well as any errors, are the sole responsibility of the authors and do not necessarily reflect the opinion of the government of Thailand, the Executive Directors of the IMF, or other members of the IMF staff.

The study was completed in June 1995 and, for the most part, is based on information available up to that time.

    Other Resources Citing This Publication