EconPapers    
Economics at your fingertips  
 

Economic impacts of Political Uncertainty in Thailand

Pongsak Luangaram and Yuthana Sethapramote ()
Additional contact information
Pongsak Luangaram: Chulalongkorn University

PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research

Abstract: This paper aims to analyze political uncertainty in Thailand by looking at various dimensions of political uncertainty and quantifying the economic impacts. Based on keyword search in Thai-language newspapers, the paper proposes five measures related to different aspects of political uncertainty. These are: (1) political protest (2) official measures in dealing with political violence (3) coup d'tat (4) parliament dissolution or election and (5) political structural reform, including the aggregate index of political uncertainty. We find that the overall political uncertainty in Thailand has been in the rising trend during the past 20 years. In particular, during the past 10 years, the main source of Thai political uncertainty comes from uncertainty related to political structural reform. Based on various econometric specifications, rising political uncertainty is found to have significant negative impacts on the Thai economy both in the short run ? particularly, private investment ? and economic growth in the long run. Nevertheless, we find that the degree of the economic impact and statistical significance on different components of macroeconomy is quite varied, reflecting complicated interaction between political factors and economic outcome.

Keywords: Thai political uncertainty; Political Protest; Partisan Conflict; Coup; Election; Economic Impacts (search for similar items in EconPapers)
JEL-codes: C01 D80 E22 E66 P48 (search for similar items in EconPapers)
Pages: 35 page
Date: 2018-05, Revised 2018-05
References: Add references at CitEc
Citations: Track citations by RSS feed

Published in PIER Discussion Paper Series

Downloads: (external link)
https://www.pier.or.th/wp-content/uploads/2018/05/pier_dp_086.pdf Published version, 2018 (application/pdf)

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:pui:dpaper:86

Access Statistics for this paper

More papers in PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by PIER ().

 
Page updated 2020-02-14
Handle: RePEc:pui:dpaper:86