Between 1987 and 1990 Thailand experienced double-digit growth, fed
by high capital inflows. This made Thailand one of the first
developing countries to recover from the recession of the 1980s.
Since 1990 growth and capital inflows have continued at a high
level. The book makes a detailed study of the macroeconomic impact
of capital inflows during recent years and during an earlier period
when growth, and capital inflows, were high, in the late 1970s. It
is shown that the results of the recent period are more sustainable
than those of the earlier period, due to the differences in the
nature of capital inflows, in external conditions, and in economic
policies.
General
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