Balance Sheets and Economic Recovery

Chirathep Senivongs na Ayudhya, Pornvipa Tangcharoenmonkong and Thitima Chucherd
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Chirathep Senivongs na Ayudhya: Bank of Thailand
Pornvipa Tangcharoenmonkong: Bank of Thailand
Thitima Chucherd: Bank of Thailand

No 2003-01, Working Papers from Monetary Policy Group, Bank of Thailand

Abstract: This paper assesses the current strength of balance sheets of the corporate and household sectors that together account, through private investment and consumption, for over 70 percent of the Thai economy. On the basis of the available data, it seeks to answer three questions. First, have the balance sheet conditions of corporations and households recovered fully from the crisis? Second, what are the risks associated with these sectoral balance sheets that should be monitored closely as the economy recovers? Third, how should such risks be managed and monetary policy conducted in order to facilitate medium-term sustainable growth? This paper also analyzes the important role of the financial sector in intermediating resources between corporations and households, and highlights the importance of good governance and financial market development in sustaining the economic recovery.

Pages: 46 pages
Date: 2003-08
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Citations: View citations in EconPapers (1)

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