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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.
The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia.
This paper presents an outlook for the world economy for 1997–98. With world output expected to expand by some 41⁄4 percent in both 1997 and 1998, the strongest pace in a decade, the global economy is enjoying the fourth episode of relatively rapid growth since the early 1970s. The expansion is underpinned by continued solid growth with low inflation in the United States and the United Kingdom; a strengthening recovery in Canada; a broadening of recovery across continental western Europe, notwithstanding persistent weakness in domestic demand in some of the largest countries.