Credit Bureau for All

Recently, the government launched a new programme to eradicate underground debt, at the same time encouraging borrowers with underground debt to refinance their obligations. Would-be participants were invited to register at the Government Savings Bank from December 1st until 30th, 2009, at which time the Chief Control Department will filter the debt types and distribute each debtor to a government bank determined to be responsible for them. Six government banks will participate in the programme; the Bank for Agriculture and Agricultural Cooperatives (BAAC), the Government Saving Bank, the SME Bank, the Islamic Bank of Thailand, the Krung Thai Bank and the Government Housing Bank.

Is the NGV Bus Project a Form of Exploitation?

The purpose of the NGV bus rental project of the Bangkok Mass Transit Authority (BMTA) is to reduce the operational losses of the BMTA, which have presently accumulated to more than 70 billion baht in total. The Minister of Transport also claims that steeply increasing diesel fuel prices will aggravate BMTA’s losses, to the tune of 140 billion baht in the next ten years. However, according to the Minister, replacing diesel buses with NGV buses will lower costs, and reduce accumulated losses for BMTA by 50 percent in the next ten years.

Compensating those affected by the demonstration

A short while ago, various private sector groups came forward to predict the sum of damages inflicted economically by the Ratchaprasong seizure of the United Front for Democracy against Dictatorship (UDD), which from April 3rd until now has accrued to 5,244 million baht per month or 174 million baht per day. Besides the closure of hotels, large-scale malls, and smaller stores, many workers went unemployed as day wore onto day.

Structural Analysis of Social Entrepreneurship in Thailand (1) : Hindrances to Becoming a Social Entrepreneur

Having written and spoken much in the past on the conceptual and practical aspects of social entrepreneurship, I now find people more interested in this topic, realizing that sole reliance on the government to solve social problems is slow and incomplete.

We must think beyond “hospitality”

The upcoming ASEAN Summit will not only prove the Thai government’s capacity to impress our guests; but will also be proof of our government’s readiness to drive Thailand as the leader of ASEAN, and as a leader in the world arena.

Economic Decoupling (2): Statistics

Last time, I mentioned Economic Decoupling, which suggests that Thailand’s economic growth does not necessarily depend on the US economy. In this article I will point to some statistics that corroborate this theory.

Economic Decoupling (1): Concept

From the Subprime crisis to Lehman’s bankruptcy, economic instability has triggered apprehension as to its possible effect on Thailand’s economy.

The Economic Policies of Political Parties Reflect the Vision of Political Leaders

Thailand is a small country in terms of the world economy, though globalisation compels Thailand to become aware of its need to participate in worldwide systems. Thailand’s economy makes this essential considering the fluctuation and impact of evolving economic situations, as well as the policies of trade-partner countries that must be faced.

Sustaining mental health in times of crisis

It is interesting to note that economic growth can cause stress for people in that economy, as we see from increasing numbers of people in our day who suffer from mental disorders in spite of economic prosperity.

Deposit Protection Agencies: What Will Their Impact Be?

The Deposit Protection Agency Act, 2008, went into effect on the 11th of August 2008. Sound in principle, it requires depositors to know the true risk of a deposit, and helps to reduce depositors’ fear where financial institutions have problems or the government is burdened to support financial institutions, identifying specific amounts of money to be paid back to depositors. Nevertheless, it may also bring change and impact in both positive and negative ways.

Should the government seek foreign loans?

According to a recent cabinet decision, the Thai government will seek foreign loans to the tune of 2,000 million USD, including 1,000 million USD on loan from the World Bank, 500 million USD from the Asian Development Bank (ADB) and 500 million USD from JICA.

Thailand’s Fiscal Sustainability Framework Appeases or Aggravates the Crisis?

The Thai cabinet resolution made on April 21st 2009, for government budget expenditure to be cut by 200 billion Baht in 2010, from a previous budget figure of 1.9 trillion Baht to a new sum of 1.7 trillion Baht, will reduce government expenditure by 1.835 trillion Baht in 2010 from its budget for 2009. The government explanation is that unless expenditure is cut, the more public debt must be borrowed, but that this will violate the Public Debt Management Act, BE 2548.

การค้าไทยในภาวะฝืดเคือง

Dr Kriengsak Chareonwongsak
Senior Fellow, Harvard Kennedy School , Harvard University
kriengsak@kriengsak.com, kriengsak.com, drdancando.com

วิกฤตการณ์แฮมเบอร์เกอร์ที่มีจุดเริ่มต้นในสหรัฐอเมริกา และกำลังลุกลามไปยังยุโรปและทั่วโลกในขณะนี้ ทำให้เศรษฐกิจของสหรัฐฯและยุโรปเริ่มส่งสัญญาณการเข้าสู่ภาวะถดถอยและทำให้เศรษฐกิจเอเชียชะลอตัวลงด้วย และมีแนวโน้มความถดถอยทางเศรษฐกิจที่รุนแรงขึ้นในปี พ.ศ.2552

กระต่ายวิ่งช้าและตัวเล็กกว่าเสือ (เศรษฐกิจไทยปี 54)

Dr Kriengsak Chareonwongsak
Senior Fellow, Harvard Kennedy School , Harvard University
kriengsak@kriengsak.com, kriengsak.com, drdancando.com

หลายท่านถามผมว่าเศรษฐกิจปีนี้จะเป็นอย่างไร ผมคิดว่า "เศรษฐกิจไทยปีนี้จะเป็นกระต่ายที่วิ่งช้า และตัวเล็กกว่าเสือ" กล่าวคือ การขยายตัวทางเศรษฐกิจมีแนวโน้มชะลอตัวลง เห็นได้จากข้อมูลเศรษฐกิจไทยล่าสุด ไตรมาสที่ 3/2553 ขยายตัวในอัตราที่ชะลอลงมาที่ร้อยละ 6.7 คาดว่าเศรษฐกิจไทยทั้งปี 53 จะขยายตัว 6.8 – 7.8% ขณะที่ปี 54 จะขยายตัว 3.5 – 4.5% ซึ่งลดลงจากปี 53 โดยสาเหตุที่ทำให้เศรษฐกิจปีกระต่ายที่มีแนวโน้มชะลอตัวลงเป็นผลมาจาก

Not just "Creative Economy," but "Knowledge-Based Economy"

Dr Kriengsak Chareonwongsak
Senior Fellow, Harvard Kennedy School , Harvard University
kriengsak@kriengsak.com, http://www.kriengsak.com/

          Recently, I expressed my view on “Creative Economy” which is an important economic policy of this government. Personally, my perspective was to first understand the direction of global social development in terms of seven waves from which the world is now poised for the “Fourth Wave,” a “Knowledge-Based Society,” led by innovators who can maximally utilize their knowledge toward daily living that is both productive and highly innovative. If Thailand wants to develop and benefit from this global development trend, the Thai government will have to ride on “The Fourth Wave,” as a Knowledge-Based Economy (Society), not just as a Creative Economy. 

Thailand’s Economic Direction in 2010

Prof.Kriengsak Chareonwongsak
Senior Fellow, Harvard Kennedy School , Harvard University
kriengsak@kriengsak.com, www.kriengsak.com

          2010 has begun, and after analysis by many, I will now express my opinion on Thailand’s economy outlook for 2010, as follows.

Economic and Social Reformation to Crisis

Dr Kriengsak Chareonwongsak
Senior Fellow, Harvard Kennedy School , Harvard University
kriengsak@kriengsak.com, www.kriengsak.com

          In June 2010, Capital Market Academy (CMA) hosted a seminar on the topic of, “Thailand Turning Point: Economic and Social Reformation Strategies to Overcome Political Crisis.” I was called to moderate this Capital Market Academy (CMA) seminar event between student representatives from CMA’s 1st – 10th Class Top Executive Programme, who were all there to express their views.

The Budget Allocation for 2011

Prof.Kriengsak Chareonwongsak
kriengsak@kriengsak.com, http://www.kriengsak.com/

          Not so long ago, the prime minister announced to parliament that the annual government expenditure for 2011 would be 2.07 trillion baht with a budget deficit of 420,000 million baht or 4.1% (percent) of GDP. The 2011 annual budget has increased by 370,000 million baht 21.8% (percent) of 2010’s annual budget. After this announcement, the opposition party debated the opinion that many facets should be investigated in the government’s allocation of the 2011 budget.