This paper analyses the downturn in the Thai economy from the onset of the currency crisis to current day. The focus is on the economic crisis in Thailand and its impact on the current account deficit, external debt, collapse of the property sector, political instability, the domestic economy, and exports. Discussion is also provided on how much of the economic crisis in Thailand can be attributed to specific development strategies of previous governments; how much of it to intra-region competition for market share and foreign investment; and how much is related to easy credit policies by relaxing fiscal and strongly interventionist monetary policies.
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