Title: Analysing the sources of growth in an emerging market economy: the Thailand experience

Authors: Sin-Yu Ho

Addresses: Department of Economics, University of South Africa, P.O. Box 392, UNISA, 0003, Pretoria, South Africa

Abstract: This paper investigates the sources of economic growth in Thailand during the period 1975 to 2014. The results show that, in the long run, human capital and inflation exert a positive and significant impact on output, while foreign direct investment and foreign aid have negative and significant impact on output. The results also show that, in the short run, physical capital, labour and human capital have a positive and significant impact on growth, while the initial level of human capital, government expenditure, the initial level of inflation, foreign direct investment and foreign aid have a negative and significant impact on growth. Based on these findings, we offer some policy implications.

Keywords: sources of growth; Thailand; ARDL bounds testing.

DOI: 10.1504/IJSE.2018.095275

International Journal of Sustainable Economy, 2018 Vol.10 No.4, pp.340 - 359

Received: 09 Feb 2018
Accepted: 04 Apr 2018
Published online: 02 Oct 2018 *

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