External Finance In Thailands Development
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Author | : Karel Jansen |
Publisher | : Springer |
Total Pages | : 317 |
Release | : 2016-07-27 |
Genre | : Business & Economics |
ISBN | : 1349258466 |
Between 1987 and 1990 Thailand experienced double-digit growth, fed by high capital inflows. This made Thailand one of the first developing countries to recover from the recession of the 1980s. Since 1990 growth and capital inflows have continued at a high level. 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. It is shown that the results of the recent period are more sustainable than those of the earlier period, due to the differences in the nature of capital inflows, in external conditions, and in economic policies.
Author | : Karel Jansen |
Publisher | : |
Total Pages | : 301 |
Release | : 1997-01-01 |
Genre | : Capital movements |
ISBN | : 9780333721155 |
It concludes that a cautious fiscal policy and an exchange rate policy that avoids excessive appreciation of the real exchange rate are central to a macroeconomic environment conducive to a positive impact of capital inflows.
Author | : Luis Carlos Jemio M. |
Publisher | : |
Total Pages | : 82 |
Release | : 1993 |
Genre | : Balance of payments |
ISBN | : |
Author | : Pedro Alba |
Publisher | : World Bank Publications |
Total Pages | : 31 |
Release | : 1998 |
Genre | : Business enterprises |
ISBN | : |
November 1998 Weaknesses in corporate governance and the fragile financial structure of many corporations contributed to, and deepened Thailand's recent financial crisis. Large corporations need to reduce their vulnerability to economic shocks and improve corporate governance; smaller firms should achieve a more stable funding structure. Alba, Claessens, and Djankov assess Thailand's policy options for reducing large corporations' vulnerability to economic shocks and improving their corporate governance - and for providing smaller firms a more stable funding structure. Using data for firms listed on Thailand's stock exchange, they empirically assess the relative importance of various factors determining the cost of capital, the availability of financing, and policies and distortions that affect corporate governance in nonfinancial firms. The empirical findings highlight weaknesses in corporate governance and the inherent risks in Thailand's corporate financing structures. They conclude that the most important ask in improving the structure of corporate financing and the framework for corporate governance is to change incentives. This will involve: * Accelerating legal reform, including reform of bankruptcy and foreclosure laws. * Improving bank monitoring of enterprise management and encouraging banks to develop more arm's-length relationships with firms. This will require greater transparency and disclosure of ownership relationships and stricter enforcement of insider and related lending limits, violation of which contributed poor intermediation and the recent crisis. * Improving disclosure and accounting practices. Self-regulatory agencies may need to play more of a role, possibly with more legal power to discipline violators. * Better enforcement of corporate governance rules. The formal structure for corporate governance is standard but enforcement is weak. * Facilitation of equity infusions. Investors - especially minority shareholders - may need to play a more direct role in monitoring and disciplining managers. To attract new infusions of equity, new equity owners may need more-than-proportional representation on the board of directors until other investor protection mechanisms are strengthened. * Improving the framework for corporate governance. A broad public discussion of corporate governance, similar to recent discussions in the United Kingdom and elsewhere, may be needed to clarify the distribution of control in the economy's real sector. * Strengthening institutions responsible for gathering and analyzing data on firms of all sizes and for monitoring firm performance and behavior. This paper-a product of the Economic Policy Unit, Finance, Private Sector, and Infrastructure Network-is part of a larger effort in the network to study the performance and financing structures of East Asian corporations.
Author | : Supote Chunanunthathum |
Publisher | : |
Total Pages | : 106 |
Release | : 1991 |
Genre | : Export credit |
ISBN | : |
Author | : Karel Jansen |
Publisher | : Springer |
Total Pages | : 501 |
Release | : 1997-12-13 |
Genre | : Business & Economics |
ISBN | : 1349259055 |
This book studies the impact of different sources of external finance on growth and development in different country contexts. An important finding of the study is that 'success' or 'failure' in the productive use of external and domestic financial resources cannot be explained on the basis of single factors such as external shocks or 'bad' versus 'sound' policies. Rather, they are outcomes of complex interactions between changes in exogenous factors (such as fluctuations in external finance and trade shocks), existing economic structures and the responses to shocks by domestic public and private sector agents. This finding also implies that there are no recipes in economic policy-making which are generally applicable; the 'best' policy has to be designed specifically for each country.
Author | : William Russell Easterly |
Publisher | : World Bank Publications |
Total Pages | : 73 |
Release | : 1990 |
Genre | : Banks and banking |
ISBN | : |
How well Thailand's financial sector can provide the investible funds demanded by the country's current boom depends partly on its ability to mobilize savings - through official policy on credit allocation and through the movement of capital internationally.
Author | : Peter G. Warr |
Publisher | : World Bank Publications |
Total Pages | : 276 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : 9780821326541 |
World Bank Discussion Paper No. 345. Focuses on financial sector reforms in the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia and provides a detailed assessment of where each country stands relative to European Union requirements for financial sector integration. The paper reviews current trends and changes in the countries' banking systems, the development of their capital markets, and the effects of changes in their legal and regulatory systems on banking supervision.
Author | : Asian Development Bank |
Publisher | : Asian Development Bank |
Total Pages | : 125 |
Release | : 2023-10-01 |
Genre | : Technology & Engineering |
ISBN | : 9292704281 |
Analyzing the importance of Thailand’s blue economy, this report considers ways to mobilize and scale up private sector investment in areas such as aquaculture and marine renewable energy to help bolster sustainable blue development. It explains why factors such as limited awareness of ocean economy opportunities, a lack of investment-ready at-scale projects, and insufficient monitoring are proving a barrier to investors. The report shows how creating an enabling environment and developing products such as sustainability-linked loans and technical assistance grants could help drive investment flows to the sector and safeguard Thailand’s blue economic growth.
Author | : Xavier Gine |
Publisher | : World Bank Publications |
Total Pages | : 41 |
Release | : 2005 |
Genre | : Credit |
ISBN | : |
"The aim of this paper is to understand the mechanism underlying access to credit. Gine focuses on two important aspects of rural credit markets in Thailand. First, moneylenders and other informal lenders coexist with formal lending institutions such as government or commercial banks, and more recently, micro-lending institutions. Second, potential borrowers presumably face sizable transaction costs obtaining external credit. The author develops and estimates a model based on limited enforcement and transaction costs that provides a unified view of those facts. The results show that the limited ability of banks to enforce contracts, more than transaction costs, is crucial in understanding the observed diversity of lenders. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the group to understand access to credit"--World Bank web site.