The paper argues that Thailand's economic and social development from the late 19th century to the early 21st century presents a puzzle. For much of the period from 1870 to 1940, the country's economic growth was slow, and the economy remained agricultural, with little diversification into...

The purpose of the study is to test for debt sustainability as well as assess the impact of public debt on economic growth in Ghana using annual time series data spanning from 1970 to 2014. The study employed the fiscal reaction function suggested by Bohn (1998) to test for the sustainability of...

Various studies showed that total factor productivity (TFP) has not been a source of growth in the Philippines. It seems that factor accumulation, which is not a sustainable source of growth, has underpinned Philippine economic growth. Studies have also shown that the sustained growth of...