Economic impact of agro-industrial sector on nationwide economy of Thailand: A general equilibrium approach

Orakanya Kanjanatarakul () and Komsan Suriya ()
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Orakanya Kanjanatarakul: Rajamangala University of Technology Lanna Chiang Mai

The Empirical Econometrics and Quantitative Economics Letters, 2012, vol. 1, issue 4, 61-66

Abstract: This study uses the computable general equilibrium model, KS-CGE version 2012 Type III, with the social accounting matrix of Thailand in 2010 to investigate the economic impact of the agro-industrial sector on the economy of Thailand. It simulates three scenarios: the expansionary household consumption on specific sectors, the expansionary government subsidy and the expansionary government spending into specific sectors. In the first scenario, the agro-industrial sector yields the second highest economic impact after the service sector. This is because the large backward linkages of the agro-industrial sector to other sectors. For the second scenario, the expansionary government subsidy into the agro-industrial sector in terms of cash creates the second highest economic impact after the sector of metal, metal products and industries. For the third scenario, the expansionary government spending into the agro-industrial sector yields only small economic impact. The government spending into the service sector produces much more economic impact because the trading value between the service sector and the government is much higher than that of agro-industrial sector.

Keywords: Agro-industrial sector; economic impact; general equilibrium model; household consumption; government subsidy and spending (search for similar items in EconPapers)
JEL-codes: C68 O13 O53 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:chi:journl:v:1:y:2012:i:4:p:61-66

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