Sustainable finance for inclusive growth in Thailand

Adam Bogiatzis, Hidekatsu Asada and Mohamed Rizwan Habeeb Rahuman
Additional contact information
Adam Bogiatzis: OECD
Hidekatsu Asada: OECD
Mohamed Rizwan Habeeb Rahuman: OECD

No 1471, OECD Economics Department Working Papers from OECD Publishing

Abstract: The Partnerships pillar of the 2030 Agenda for Sustainable Development cuts across all the goals focusing on the mobilisation of resources needed to implement the agenda. Thailand’s “sufficiency economy philosophy” encourages the prioritisation of long-term sustainability over short-term benefits. As such, Thailand has a long history of fiscal prudence that has served the country well in times of economic and political instability. However, relying on current fiscal buffers to finance foreseeable expenditure pressures is not sufficient or sustainable. A rapidly ageing population and shrinking workforce will weigh on future public finances and on the ability to achieve the Sustainable Development Goals. To ensure that Thailand is well placed over the medium term to meet growing social, environmental and infrastructure requirements, the government should: (i) increase tax revenues by broadening the tax base and enhancing collection efficiency; (ii) facilitate greater private sector investment in productive infrastructure; and (iii) reform the healthcare and pension systems to increase their efficiency and effectiveness. This Working Paper relates to the Initial Assessment report of the Multi-dimensional Country Review of Thailand. (http://www.oecd.org/eco/surveys/multi-dimensional-review-thailand.htm)

Keywords: Fiscal consolidation; healthcare; inclusive growth; pension; public-private partnerships; regional development; social protection; tax; transfer (search for similar items in EconPapers)
JEL-codes: E62 H21 H30 H51 H54 H55 H61 H62 H63 H68 H70 (search for similar items in EconPapers)
Date: 2018-05-30
New Economics Papers: this item is included in nep-age, nep-env, nep-mac and nep-sea
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1787/7ad06329-en (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:1471-en

Access Statistics for this paper

More papers in OECD Economics Department Working Papers from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().