Macroeconomic Policy for Emerging Markets: Lessons from Thailand.

• Jurisdiction: Singapore
• Date: 01 August 2019
• Author: Amornkitvikai, Yot

Macroeconomic Policy for Emerging Markets: Lessons from Thailand, by Bhanupong Nidhiprabha. London: Routledge, 2019. Pp. 249.

Sound macroeconomic policies can be instrumental in promoting and sustaining a country's long-term growth. In the face of global fluctuations, countercyclical macro policies can be adopted to minimize the deviation from an economy's stable growth path. However, when such policies are based on false presumptions and/or hidden agendas, they can lead to catastrophic results.

The author, Professor Bhanupong Nidhiprabha, has more than forty years of experience in the field of macroeconomics, particularly international trade, which strengthens the theoretical and practical insights this book offers. Divided into thirteen chapters, his publication deals with a large number of interconnected aspects of the Thai economy, and the lessons that can be learned from the policymakers' successes and failures.

The first three chapters provide a comprehensive background of Thailand's economic development over the last fifty-five years, split into three periods: first, the early phase of steady growth between 1961 and 1990; second, the resilient period of 1991 to 2005, when the country endured macroeconomic adjustments in relation to...