Assessment of economic progres

ASSESSMENT OF ECONOMIC PROGRESS IN THAILAND, 1985-95 Here is a keep down of the main measurable indicators of economical growth and structural deepen for Thailand to be observed by World Bank ply members who are visiting there.

To ensure a successful check of business meeting between the World Bank representatives and the Thai government and their business executives, I feel that a gross(a) understanding of the Southeast Asias (although the main focus will be Thailands) economic growth is necessary. Economic growth is simply a foresighted-term extend in real output per capita and measurement it often involves an unbiased and theoretical assessment of national operation. The chase are the key signs of economic growth: 1) Agricultural modernization and Agricultural Diversification 2) Industrial Transformation 3) Growth of work Industry 4) Improvement in Quality of Life (including social, environmental, and economic variables) 5) Growth of Trade and Foreign Investment 6) Improvement in Technology and Infrastructure Note that in comparison to opposite Southeast Asian countries (except Singapore), Thailand has a relatively better performance in agriculture and value industries during the mid and late 80s. For example, the cultivation, processing, and trade of agricultural products, especially sieve, was traditionally the mainstay of the Thai economy. Although Thailand has long been among the most prosperous of the Asian nations, its dependence on a single crop made it extremely vulnerable to fluctuations in the world price of rice and to variations in the harvest.



The government has superfluous this vulnerability by instituting a number of development programs aimed at diversifying the economy and by promoting scientific methods of farming, particularly controlled flooding of the rice fields, so that the rice harvest might remain changeless even in years of few rainfalls. In the earlyish 1990s, Thailand annually produced approximately 18.5 million metric tons of rice, up from about 11.3 million metric tons per year in the 1960s (Dutt, 1992). Another example of its notable success was the increase in tourism during the late 1980s that boosted the economy of Thailands service industry.

There are many ways to explain the economic development of Thailand and other Southeast Asian countries. Three things ejaculate to...

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