S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics (SJE) Seoul Journal of Economics vol.32 no.1~4 (2019)
Thailands Middle-Income Trap: Firms Technological Upgrading and Innovation and Government Policies
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- Issue Date
- Seoul Journal of Economics, Vol.32 No.1, pp. 107-135
- Thailand ; Middle-Income trap ; Technological learning ; Technological capabilities ; Science ; Technology ; Innovation policy
- An earlier version of this paper was presented at the 2018 SJE Conference on Political Economy of the Middle-income Trap, held in Seoul.
- Once recognized as a high-performing newly industrializing economy, Thailand is currently in the middle-income trap. The country has remained at the middle-income level for more than 15 years. A major reason for such development is a relatively low technological learning of firms in Thailand. After a financial crisis in 1997, certain improvements transpired; for example, transnational corporations and large local firms started to invest increasingly in building rather sophisticated technological capabilities in product and process design, advanced engineering, and R&D. However, Thailand is still lacking a critical mass of innovative firms, which can pull the country out of the trap. On the government side, perpetuated ineffective science, technology, and innovation policies have been implemented for several decades.
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