Thailand Economic Monitor, April - June 2009

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dc.creatorWorld Bank
dc.date2017-09-06T20:04:33Z
dc.date2017-09-06T20:04:33Z
dc.date2009
dc.date.accessioned2026-07-01T01:11:01Z
dc.descriptionA solid financial armor could not protect Thailand against the impact of the global financial crisis on its real economy. Despite a sound banking system and low external vulnerabilities, the Thai economy contracted 5.7 percent between October 2008 and March 2009, as the magnitude and speed of the contraction in foreign demand, and resulting shock to the real economy, has been greater than anticipated. There continues to be little impact of the global financial crisis on Thailand's banks: liquidity remained adequate as financial institutions did not face solvency concerns given their adequate capitalization and lack of exposure to 'toxic' assets or risky derivative contracts. The combination of a sound financial sector, low external roll-over and balance-of-payment financing requirements, and, more recently, large current account surpluses, has led to capital inflows, build-up in reserves and an appreciation of the Baht relative to other currencies in the region. However, the impact of the global crisis on the real sector was far more severe than expected. Export volumes contracted by 8.9 percent in the fourth quarter of 2008, compared to the World Bank's forecast in December of a 3.0 percent expansion. Exports contracted a further 16 percent in the first quarter of 2009. The aggravation of Thailand's political crisis, which had been dampening investor and consumer confidence since 2006, compounded the shock to the real economy. As a result, real gross domestic product (GDP) contracted in the fourth quarter of 2008 and first quarter of 2009 after 38 quarters of growth, and is expected to contract for 2009 as a whole, the first annual contraction since the Asian financial crisis of 1997-1998.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/482501468312354406/Thailand-economic-monitor-April-June-2009
dc.identifierhttps://hdl.handle.net/10986/28123
dc.identifierhttps://doi.org/10.1596/28123
dc.identifier.urihttp://hdl.handle.net/123456789/415900
dc.languageEnglish
dc.languageen_US
dc.publisherBangkok
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectAGRICULTURAL COOPERATIVES
dc.subjectAGRICULTURE
dc.subjectASSET QUALITY
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEET
dc.subjectBANK OFFICE
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCY
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectBILLS OF EXCHANGE
dc.subjectBINDING CONSTRAINTS
dc.subjectBOND
dc.subjectBOND MARKET
dc.subjectBUDGET DEFICIT
dc.subjectBUDGET DEFICITS
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKET DEVELOPMENT
dc.subjectCAPITAL OUTLAYS
dc.subjectCAPITALIZATION
dc.subjectCASH TRANSFER
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCLEARING HOUSE
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCOMMUNICATIONS TECHNOLOGY
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMER GOODS
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMERS
dc.subjectCONTINGENT LIABILITIES
dc.subjectCONTINGENT LIABILITY
dc.subjectCREDIT BUREAU
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT DEFAULT SWAPS
dc.subjectCREDIT GROWTH
dc.subjectCREDIT MARKETS
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT SURPLUS
dc.subjectCURRENT ACCOUNT SURPLUSES
dc.subjectDEBT
dc.subjectDEBT COMPOSITION
dc.subjectDEBT LEVELS
dc.subjectDEBT RATIOS
dc.subjectDEBT SECURITIES
dc.subjectDEBT STOCK
dc.subjectDEBTS
dc.subjectDECLINE IN INVESTMENT
dc.subjectDEFLATION
dc.subjectDEPOSIT
dc.subjectDERIVATIVE
dc.subjectDERIVATIVE CONTRACTS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISBURSEMENT
dc.subjectDISBURSEMENTS
dc.subjectDIVIDENDS
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC INTEREST RATES
dc.subjectDOMESTIC MARKETS
dc.subjectDURABLE
dc.subjectDURABLE GOODS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectELASTICITY
dc.subjectELASTICITY OF DEMAND
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKETS
dc.subjectEQUIPMENT
dc.subjectEQUITY INVESTMENT
dc.subjectEQUITY SECURITIES
dc.subjectEXCHANGE COMMISSION
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPANSIONARY FISCAL POLICY
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORT SECTOR
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCING REQUIREMENTS
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFIXED INVESTMENT
dc.subjectFORECASTS
dc.subjectFOREIGN DIRECT INVESTMENTS
dc.subjectFOREIGN INVESTORS
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENTS
dc.subjectFUTURE LOAN
dc.subjectFUTURES
dc.subjectFUTURES EXCHANGE
dc.subjectGDP
dc.subjectGLOBAL ECONOMIC PROSPECTS
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL TRADE
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT INTERVENTIONS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH RATE
dc.subjectHOUSEHOLD INCOMES
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINCOME INEQUALITY
dc.subjectINDEBTEDNESS
dc.subjectINDUSTRIAL ECONOMICS
dc.subjectINDUSTRIAL ECONOMIES
dc.subjectINFLATION
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE VOLATILITY
dc.subjectINTERNATIONAL SETTLEMENT
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectINVESTMENT DECISIONS
dc.subjectKNOWLEDGE ECONOMY
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLEADING INDICATORS
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL GOVERNMENT
dc.subjectMARKET SHARES
dc.subjectMATURE MARKETS
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORK
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY POLICY
dc.subjectMONEYLENDERS
dc.subjectMULTIPLIER EFFECT
dc.subjectMULTIPLIER EFFECTS
dc.subjectMUTUAL FUND
dc.subjectNATIONAL CREDIT
dc.subjectNATIONAL INCOME
dc.subjectNET EXPORTS
dc.subjectNEW MARKETS
dc.subjectNON-PERFORMING LOANS
dc.subjectOIL PRICES
dc.subjectPENSION
dc.subjectPOLITICAL RISKS
dc.subjectPOLITICAL UNCERTAINTIES
dc.subjectPOLITICAL UNCERTAINTY
dc.subjectPOLITICAL UNREST
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INVESTMENTS
dc.subjectPRICE CHANGES
dc.subjectPRINCIPAL REPAYMENTS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRODUCTION COSTS
dc.subjectPROPERTY VALUES
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC DEBT STOCKS
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SPENDING
dc.subjectPURCHASING POWER
dc.subjectREAL GDP
dc.subjectRECESSION
dc.subjectREGULATORY FRAMEWORK
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectSAFETY NET
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSHARE OF ASSETS
dc.subjectSHORT-TERM EXTERNAL DEBT
dc.subjectSKILLS SHORTAGES
dc.subjectSOCIAL DEVELOPMENT
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SAFETY NETS
dc.subjectSOLVENCY
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKETS
dc.subjectTAX
dc.subjectTRADE CREDIT
dc.subjectTRADE CREDITS
dc.subjectTRADE FINANCE
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE REFORMS
dc.subjectTRADE REGIME
dc.subjectTRADING
dc.subjectTROUGH
dc.subjectUNDERESTIMATES
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNFAIR COMPETITION
dc.subjectVALUATION
dc.subjectVARIABLE INTEREST RATE
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORKING CAPITAL
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleThailand Economic Monitor, April - June 2009
dc.typeReport
dc.typeRapport
dc.typeInforme

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