Abstract
ABSTRACTThis study examined the impact of two major crises: the 1998 financial crisis and the 2021 COVID‐19 outbreak as well as the 1996 and 2019 non‐crisis period on child educational spending by Thai households. Using Thailand Socio‐Economic Survey (SES) data along with limited dependent variable models with an emphasis on correcting endogeneity problems were employed to achieve the objective. The results showed that households reduced educational spending in response to unemployment in both the 2021 crisis year and the 2019 non‐crisis period. More importantly households decreased educational spending due to unemployment in the 1998 and 2021 crisis period more than in the 1996 and 2019 non‐crisis period. Additionally, we only found households in the second and third income quartiles cut educational expenditure in response to unemployment.
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