Survey of development in different economic sectors. The surge in non-oil exports. Further deregulation measures in respect of foreign investment, export promotion, tourist development etc. Analysis of the 1988/89 budget. Measures introduced to reduce liquidity and increase interest rates....

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...