He emphasizes the varying nature of sectoral adjustment behaviours, in response to shocks and policies, and the changes in policies to deal with external shocks over time. The structural reforms implemented after 1985 show the supreme effort the country has made to apply coherent economic policies after a long period of indebtedness and crisis.
Between 1987 and 1990 Thailand experienced double-digit growth, fed by high capital inflows. 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.
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