Thai Khem Kaeng: An inadequate response by the Thai State to the impact of the 2008 economic crisis
Abstract
The economic crisis erupting from inadequate regulation of reckless banking practices in 2008 was correctly met by Keynesian-style stimulus packages in governments around the world. These measures were successful when they were sufficiently large, properly focused, and implemented promptly. Where these conditions were not met, as in the case of Thailand, the results were unimpressive and the problems not dealt with properly. However, the Thai version of the second part of the stimulus package, Thai Khem Kaeng, had in fact quite a different purpose and appears to have been intended to boost the popularity of the government at the cost of making unsustainable and uncosted deficits for the future. The lack of coherence at the economic planning centre of government and its questionable methods suggest that Thailand has continued the longstanding policy of making economic decisions for non-economic reasons.Downloads
Copyright (c) 2010 Journal of Economics and Behavioral Studies
This work is licensed under a Creative Commons Attribution 4.0 International License.
Author (s) should affirm that the material has not been published previously. It has not been submitted and it is not under consideration by any other journal. At the same time author (s) need to execute a publication permission agreement to assume the responsibility of the submitted content and any omissions and errors therein. After submission of a revised paper in the light of suggestions of the reviewers, editorial team edits and formats manuscripts to bring uniformity and standardization in published material.
This work will be licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) and under condition of the license, users are free to read, copy, remix, transform, redistribute, download, print, search or link to the full texts of articles and even build upon their work as long as they credit the author for the original work. Moreover, as per journal policy author (s) hold and retain copyrights without any restrictions.
