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'Professor Krongkaew is one of Thailands best known academic economists, and he has brought together an impressive number of authorities on the modern Thai economy. The resulting book should be of great value to anyone wanting an authoritative and comprehensive overview of recent developments in one of Asias most dynamic economies.' - Anne Booth, School of Oriental and African Studies, University of London The book is divided into 4 parts. Part 1 gives an overview of Thai industrialization and the roles of agriculture, manufactured exports, direct foreign investment and tourism as major contributors to recent fast economic growth. Part 2 analyses the impact of industrialization on government finance, monetary policy, urbanisation, and household welfare. Part 3 further investigates impact on political development, social values, the environment, and education, health and science and technology. Part 4 looks at a future role of Thailand as a newly industrialized country in Asia.
The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.
Contributed articles on commercial policy and trade regulation in India in light of WTO policy.
Cover; Contents; Acknowledgements; Preface; Major Events from 1947; 1. Interpreting Development: The Problematic of Capitalism and Democracy; 2. Thailand: The Four Contradictions; Rapid, but Uneven, Development; Military Assertion; Business Power; Money Politics; The Range of Business-Political Relations; 3. The Middle Class and Civil Society; Middle Class and Alternatives; Civil Society and the Role of NGOs; 4. Twin Peaks-Disturbing Shadows; Economics, Politics, Society in the 1990s; 5. Conclusion: Development and Democracy Reconsidered.