Contribution of International Trade and Capital Accumulation to Economic Growth of Thailand during the last half of the 20th century

Nguyen Minh Duc ()
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Nguyen Minh Duc: Nong Lam University, Vietnam

HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 2014, vol. 4, issue 1, 3-12

Abstract: The present paper examines the links between international trade, capital and economic growth in Thailand from 1950 to 2000 in an applied growth model including exchange rate as a control variable. Prior to 1980 the elasticity of per capita income with respect to trade was -0.2% switching to 0.07% in 1980 in line with the change from resource exports and import substitution to manufactured exports. The exchange rate elasticity of per capita income prior to 1980 was 0.4% switching to -0.2% consistent with the move to a floating exchange rate. Results confirm the overriding theoretical importance of investment to economic growth

Keywords: international trade; neo-classical growth; time series analysis; ThailandJEL code: F43; O53 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:bjw:econen:v:4:y:2014:i:1:p:3-12

DOI: 10.46223/HCMCOUJS.econ.en.4.1.80.2014

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