This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and...

Thailand and the Republic of Korea were developing at a similar pace during the 1960s. However, the Republic of Korea’s economic development rapidly expanded from the 1970s onward, leaving Thailand lagging far behind. This paper investigates the labor productivity slowdown in Thailand using a...

Aggregate productivity growth in the EU14 has slowed significantly in recent decades. Structural change toward services has contributed significantly to the growth slowdown. Future growth is projected to decline further due to the rise of sectors with stagnant productivity. Europe is projected...

Thailand stands out in international comparison as a country with a high dispersion of productivity across sectors. It has especially low labor productivity in agriculture—a sector that employs a much larger share of the population than is typical for a country at Thailand’s level of income....