The Economic Consequences of Globalization on Thailand

Description

This book explores the impact of globalization, especially in the context of trade and investment policies, on the key economic outcomes, including innovation, productivity, employment, and wages, using Thai manufacturing as a case study. The book looks at the impacts of the shift of manufacturing share from industrialized to emerging countries and emergence of ‘global value chains’ (GVCs) as well as liberalization through the proliferation of free-trade agreements (FTAs) on key economic outcomes. The book highlights that globalization, through trade (including the parts and components trade) and investment, continues in Thailand amid the anti-globalization sentiment since the onset of the new millennium, especially the US–China trade war and the COVID-19 pandemic. Thailand has gained considerable benefit from trade and investment liberalization in various forms, including innovation, firm productivity improvements, and workers’ skills enhancement. Although the country has prospered in these areas, several further enhancements are needed in order to effectively harness the benefits available from globalization, including continued trade and investment policy reforms. Key policy inferences are provided in the last chapter. The book will appeal to those with an interest in international economics, especially issues relating to the economic consequences of globalization. It will also appeal to policymakers and practitioners responsible for international trade and investment regulations. Cover Half Title Series Page Title Page Copyright Page Table of Contents List of figures List of tables Acknowledgments Chapter 1 Introduction 1.1 Purpose of the book 1.2 Contents of the book Notes Chapter 2 The trade policy regime in Thailand 2.1 Tariff measures 2.2 Effective protection 2.3 Non-tariff measures 2.4 Conclusions Appendix 2.1 Appendix 2.2 Appendix 2.3 Data, variable measurements, and methodology Notes Chapter 3 Free trade agreements and investment policies in Thailand 3.1 Free trade agreements 3.2 Investment policies governing foreign investment 3.3 Conclusions Notes Chapter 4 Trade and foreign direct investment in Thailand 4.1 Trade in Thailand 4.2 Foreign (direct) investment in Thailand 4.3 Conclusions Notes Chapter 5 MNEs, exporting, and R&D activities in Thailand 5.1 MNEs, exports, and R&D activities: The literature 5.2 Empirical model 5.3 Data and econometric procedure 5.4 MNEs, exporting and R&D activities: Empirical results 5.5 Conclusions Appendix 5.1​ Appendix 5.2​ Appendix 5.3 Appendix 5.4 Notes Chapter 6 Trade and investment policies on firms’ productivity 6.1 Industrial policy: Literature survey 6.2 Empirical model 6.3 Data and econometric procedure 6.4 Empirical results 6.5 Conclusions Appendix 6.1​ Appendix 6.2​ Appendix 6.3​ Notes Chapter 7 Globalization and labor market outcomes 7.1 Analytical framework 7.2 Wages and employment in Thai manufacturing: First look 7.3 The empirical model 7.4 Results 7.5 Conclusions Appendix 7.1​ Appendix 7.2​ Notes Chapter 8 Conclusions and policy inferences Notes References Index