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Thaksinomics
Thaksinomics (a portmanteau of "Thaksin" and "economics") is a term used to refer to the economic set of policies of Thaksin Shinawatra, Prime Minister of Thailand from 2001 to 2006. There has been considerable controversy over the role Thaksinomics has played in Thailand's recovery from the 1997 Asian financial crisis. Among the most prominent advocates of Thaksin's economic policies is Morgan Stanley economist Daniel Lian. The term was coined by President Gloria Macapagal Arroyo of the Philippines during the 2003 Nikkei in which she explained how she conducted her economic policy by following Thaksin's "domestic consumption-based (and) managed asset reflation".newsweek.combr>The Economics of Thailand's Thaksin is Catching OnGeorge Wehrfritz 8/22/08 Overview Thaksinomics is a populist set of economic policies aimed at Thailand's rural people, who make up the majority of the country's population. The policies of Thaksinomics have included: *A four-year debt moratorium for fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thaksin Shinawatra
Thaksin Shinawatra ( th, ทักษิณ ชินวัตร; ; ; Chinese: 丘達新; cnr, Taksin Šinavatra; born 26 July 1949), is a Thai businessman, politician and visiting professor. He served in the Thai Police from 1973 to 1987, and was the Prime Minister of Thailand from 2001 to 2006. Thaksin founded the mobile phone operator Advanced Info Service and the IT and telecommunications conglomerate Shin Corporation in 1987, ultimately making him one of the richest people in Thailand. He founded the Thai Rak Thai Party (TRT) in 1998 and, after a landslide electoral victory, became prime minister in 2001. He was the first democratically elected prime minister of Thailand to serve a full term and was re-elected in 2005 by an overwhelming majority. Thaksin declared a "war on drugs" in which more than 2,500 people were killed. Thaksin's government launched programs to reduce poverty, expand infrastructure, promote small and medium-sized enterprises, and extend universal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daniel Lian
Daniel Lian is a Southeast Asia Economist for Morgan Stanley, based out of Singapore. He holds a Ph.D. in economics from the East-West Center in Honolulu, Hawaii. Lian is perhaps best known as a prominent proponent of Thaksinomics, a set of economic policies advocated by Thai Prime Minister Thaksin Shinawatra designed to steer Thailand out of the Asian financial crisis. Lian's close personal relationship with Prime Minister Thaksin has raised concerns of a possible conflict of interest that could impugn his impartiality and credibility in his role as an analyst of the Thai economy. In October 2005, more light was shed on the nature of his relationship with Thaksin when a letter that Lian had written to the Prime Minister was leaked to the Bangkok-based English-language newspaper ''Thai Day''. In the letter, Lian thanked Thaksin for a dinner he had recently hosted and also noted the efforts that Lian had made on Thaksin's behalf. These efforts included assisting with a road show h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Thailand
The economy of Thailand is dependent on exports, which accounted in 2019 for about sixty per cent of the country's gross domestic product (GDP). Thailand itself is a newly industrialized country, with a GDP of 16.316 trillion baht (US$505 billion) in 2018, the 8th largest economy of Asia, according to the World Bank. As of 2018, Thailand has an average inflation of 1.06% and an account surplus of 7.5% of the country's GDP. The Thai economy was expected to post 3.8% growth in 2019. Its currency, the Thai Baht, ranked as the tenth most frequently used world payment currency in 2017. The industrial and service sectors are the main sectors in the Thai gross domestic product, with the former accounting for 39.2 percent of GDP. Thailand's agricultural sector produces 8.4 percent of GDP—lower than the trade and logistics and communication sectors, which account for 13.4 percent and 9.8 percent of GDP respectively. The construction and mining sector adds 4.3 percent to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thailand
Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the extremity of Myanmar. Thailand also shares maritime borders with Vietnam to the southeast, and Indonesia and India to the southwest. Bangkok is the nation's capital and largest city. Tai peoples migrated from southwestern China to mainland Southeast Asia from the 11th century. Indianised kingdoms such as the Mon, Khmer Empire and Malay states ruled the region, competing with Thai states such as the Kingdoms of Ngoenyang, Sukhothai, Lan Na and Ayutthaya, which also rivalled each other. European contact began in 1511 with a Portuguese diplomatic mission to Ayutthaya, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Deficit
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists. Explanation The balance of trade forms part of the current account, which includes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Corruption
Political corruption is the use of powers by government officials or their network contacts for illegitimate private gain. Forms of corruption vary, but can include bribery, lobbying, extortion, cronyism, nepotism, parochialism, patronage, influence peddling, graft, and embezzlement. Corruption may facilitate criminal enterprise such as drug trafficking, money laundering, and human trafficking, though it is not restricted to these activities. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is also considered political corruption. Over time, corruption has been defined differently. For example, in a simple context, while performing work for a government or as a representative, it is unethical to accept a gift. Any free gift could be construed as a scheme to lure the recipient towards some biases. In most cases, the gift is seen as an intention to seek certain favors such as work promotion, tipping in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2004 Indian Ocean Earthquake And Tsunami
An earthquake and a tsunami, known as the Boxing Day Tsunami and, by the scientific community, the Sumatra–Andaman earthquake, occurred at 07:58:53 local time (UTC+7) on 26 December 2004, with an epicentre off the west coast of northern Sumatra, Indonesia. It was an undersea megathrust earthquake that registered a magnitude of 9.1–9.3 , reaching a Mercalli intensity up to IX in certain areas. The earthquake was caused by a rupture along the fault between the Burma Plate and the Indian Plate. A series of massive tsunami waves grew up to high once heading inland, after being created by the underwater seismic activity offshore. Communities along the surrounding coasts of the Indian Ocean were devastated, and the tsunamis killed an estimated 227,898 people in 14 countries, making it one of the deadliest natural disasters in recorded history. The direct results caused major disruptions to living conditions and commerce in coastal provinces of surrounded countries, including Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
One Tambon One Product
One Tambon One Product (OTOP) is a local entrepreneurship stimulus program designed by Thailand's former Prime Minister Thaksin Shinawatra during his 2001-2006 Thai Rak Thai government. The program aimed to support locally made and marketed products of each of Thailand's 7,255 tambons (sub-district). Drawing its inspiration from Japan's successful One Village One Product (OVOP) program, the OTOP program encourages village communities to improve the quality and marketing of local products, selecting one superior product from each tambon to receive formal branding as its "starred OTOP product". It provides both a local and national stage to the promote these products. OTOP includes a large array of local products, including traditional handicrafts, cotton and silk garments, pottery, fashion accessories, household items, and foods. After a military junta overthrew Thaksin's government in 2006 following an election cancelled for irregularities, the OTOP program was cancelled. However, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Thailand
The prime minister of Thailand ( th, นายกรัฐมนตรี, , ; literally 'chief minister of state') is the head of government of Thailand. The prime minister is also the chair of the Cabinet of Thailand. The post has existed since the Revolution of 1932, when the country became a constitutional monarchy. Prior to the coup d'état, the prime minister was nominated by a vote in the Thai House of Representatives by a simple majority, and is then appointed and sworn-in by the king of Thailand. The house's selection is usually based on the fact that either the prime minister is the leader of the largest political party in the lower house or the leader of the largest coalition of parties. In accordance with the 2017 Constitution, the Prime Minister can hold the office for no longer than eight years, consecutively or not. The post of Prime Minister is currently held by retired general Prayut Chan-o-cha, since the 2014 coup d'état. History The office of the "Presiden ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Policy
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation (which is considered "healthy" at the level in the range 2%–3%) and to increase employment. Additionally, it is designed to try to k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keynesian
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors – sometimes behaving erratically – affecting production, employment, and inflation. Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes – a recession, when demand is low, or inflation, when demand is high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between government and central bank. In particular, fiscal policy actions (taken by the government) and monetary policy actions (tak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
