Economic Crisis, Poverty, and the Emergence of Populism in Thailand

Abstract

Of the three Asian crisis economies that went under the International Monetary Fund (IMF)s stewardship, only Thailand has experienced a populist backlash. This study explores why the country opted for populism in the 2001 general election. It shows that absolute poverty was responsible for the rise of Thaksins populism. In more detail, the so-called Thaksin fever was strongly correlated to the regions post-crisis poverty level, excepting the southern region. This study also tentatively concludes that, even though political variables such as political deinstitutionalization do not explain the establishment of a populist government, they still may explain its absence.