The Policy Analysis of Financial Crisis: The case of Experience in Thailand

• Main Authors: JAKKARIN SINGHAKOWINTA, 吳柏文
• Other Authors: YANG, MIN-HSIEN
• Format: Others
• Language: en_US
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/2355yg

碩士 === 逢甲大學 === 國際經營與貿易學系 === 106 === In the past two decades, there are two big financial crisis that happened in the world; the one is Asian Financial Crisis happened from Thailand in 1997. But this crisis also effected other country near Thailand like Malaysia, Indonesia, Philippines, and South Korea. The other is Global Financial Crisis in 2008. This global financial crisis happened in United States. Financial crises had impact not only in economic side but also social side. This research will focus on Thailand experience to face the financial crisis especially in Asian Financial Crisis because the other Global Financial Crisis 2008 did not really affect Thailand so much. Thailand learned from the Asian Financial Crisis that hit Thailand until almost bankrupt and accept IMF supported package. But within only 4 years after the crisis, in 2001, Thailand’s economy had recovered. The increasing tax revenues allowed the country to balance its budget and repay its debts to the IMF in 2003, four years ahead of schedule. This is a very interesting to study the policies that government used to solve the economic problems in the past. This research will analyze the monetary policy and fiscal policy. The Mundell-Fleming Model or IS-LM-BP model be used as the methodology. Policy that help Thailand condition better was the loose fiscal policy. Because Thailand government could spend and healed inside the country first, then after inside the country are better, they will get the international confidence back automatically. It is important to learn from the past, so in the future can face the problem better and can be implemented not only for Thailand, but also for other country.