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- W2071391210 abstract "With Thailand's long history of economic success from the late 1950s through 1996-during which time it had not experienced a single year of negative economic growth, a record unequaled by any other nation-its financial crisis of 1997-98 took Thais and outsiders by surprise. The collapse was brought on by a failure to coordinate policy responses within an economic establishment weakened by corruption; the downfall was further fueled by the broad consensus to focus first on political rather than economic and financial reform. Ironically, Thailand's virtues of diversity and multiple power bases, which promoted competition and free flow of information among segments of society and the economy, and its sensible, gradual openness toward foreign investment in its business community had made it impossible to shift direction rapidly toward reform changes, even at the peak of the financial crisis. Though as severe as the collapses occurring elsewhere in the world, Thailand's financial crisis avoided the economically destabilizing revolutions its counterparts experienced in the Philippines and Indonesia, and with reference to South Korea and other countries.' Currently, a broad reform process is underway and if sustained will substantially enhance Thailand's strengths and reduce its weaknesses, eventually restoring the country to the vanguard of the developing world. If the reform process is truncated by political incoherence" @default.
- W2071391210 created "2016-06-24" @default.
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- W2071391210 date "1999-11-01" @default.
- W2071391210 modified "2023-10-04" @default.
- W2071391210 title "Thailand's Financial and Political Systems: Crisis and Rejuvenation" @default.
- W2071391210 doi "https://doi.org/10.2307/3021150" @default.
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