Economy Of Thailand Research Articles

Role of Demographic Factors and Stakeholders in Determining the Marketing Strategies of Pharmaceutical Companies in Thailand

Marketing strategies have got much attention in the recent two decades both in domestic and international market. The growth and success of business firms are directly associated to the marketing strategies. However, a range of factors are available having their influence on the overall marketing planning and strategies defined by the pharmaceutical industry. This study aims to analyze the impact of various demographic factors along with the stakeholders on the marketing strategies of pharmaceutical companies in Thailand. This research objective was addressed through data collected from a sample of 463 respondents in the local market of Thailand. For the demographic factors, family profile, gender, age and level of income were selected. Whereas, stakeholders cover the title of 3Ps (payer, patient, and physician), and regulators. Our study has applied the descriptive statistics at first to provide an overview about the collected responses in terms of mean score, standard deviation from the mean, percentiles, kurtosis and skewness respectively. In the next step, pairwise correlation is calculated and presented with the relative p-values of each of the coefficient of correlation. Lastly, results have been shown their regression coefficients, determining the influence of demographic factors, and stakeholders on marketing strategies of pharmaceutical industry. Results have shown that there is a significant and positive impact of family profile, gender and level of income on marketing strategies. However, significant and negative impact of patient as among the key stakeholders is found. Additionally, payer, physician have also shown a positive influence on marketing strategies, but no impact from regulators is observed under full sample outcomes. Based on the study findings, it is suggested that pharma companies need to consider the stated results where significant and positive influence from majority of the variables is observed except for the physicians. However, our study is limited in some way. First, a traditional regression model was applied and results were discussed. Second, only two dimension of determinants of marketing strategies were observed; demographic factors and stakeholders. Third, study has a limited regional implications based on the Thailand economy. It is highly suggested that future research work would cover these limitations to cover the literature gap.

Does Excessive Alcohol Consumption Increase Economic Cost? An Investigation from Thailand

Excessive consumption of alcohol is linked with the various adverse health consequences, including liver diseases, cancer, kidney failure, cardiac problems, and digestive problems. It also results impulsive death, increases the cost of health care, increases crime rates, lowers the productivity of individuals, decreases output, reduces the possibility of earning and increases unemployment rate Therefore, present study aims to investigate the impact of excessive alcohol consumption on the economic cost of the nation. The study uses three proxies of economic cost, including health care cost, productivity cost and the cost of crimes. The study collected the data from the national data bases of Thailand. The study applies ordinary least square regression for the empirical estimation of results. Results of the study show positive impact of excessive consumption of alcohol on economic cost; health care cost, productivity cost and the cost of crimes. The study concluded that the excessive consumption of alcohol adversely affects the economy of Thailand. Therefore, it is suggested that government should take strict action against the excessive use of alcohol consumption in order to control the economic cost.

Measuring the size of the informal tourism economy in Thailand

AbstractThis study is the first to estimate the size of the informal tourism economy. Using a dynamic general equilibrium model, this paper first estimates the size of the informal tourism economy and then assesses its linkages to key labour market variables in Thailand. Empirical results indicate that: (a) the informal tourism economy grows faster than the formal tourism and aggregate economy; (b) both formal and informal tourism economies absorb the unemployed; (c) the relationship between formal and informal economies is negative in the aggregate but positive in the tourism sector.

The geopolitical economy of Thailand's marine plastic pollution crisis

Currently approximately 9 million tons of plastic enter the world's oceans annually. This is a major transboundary problem on a global scale that threatens marine wildlife, coastal ecologies, human health and livelihoods. Our concern in this paper is with the environmental governance of marine plastic pollution that emanates from Thailand, the sixth biggest contributor globally. By zooming in on land‐based polluters in Thailand, we highlight both the systemic nature of the marine plastic problem and the relative impunity with which drivers of transboundary environmental harm function at all levels of governance. Drawing from 19 interviews conducted with actors from the public, private and non‐profit sectors, we examine three stages of the problem: production, consumption and waste management. We found that three major barriers prevent Thailand's government, private sector and citizens from engaging in the sort collective action needed to reduce marine plastic pollution. They are: (i) insufficient incentives to enact political change; (ii) scalar disconnects in waste management; and (iii) inadequate public and private sector ownership over plastic waste reduction. As the state alone cannot change corporate and consumer behaviour, we argue that multi‐stakeholder efforts across organisational scales of governance and administrative boundaries are needed to address the barriers.

Examining the effect of biofuel industry on Thailand's economy dependent on input-yield model

This examination is to consider the effect of the biofuel business incorporates ethanol and biodiesel, to Thailand's Economy by utilizing Input-Output examiner. Thailand's Alternate Energy Development Plan (AEDP) has been advancing the biofuel business persistently in the previous ten years by sponsoring biofuel items and propelled command strategy. This arrangement is concentrating on expanding residential elective vitality use to supplant petroleum derivative imports and increment inside vitality security. In any case, the test of this industry is the items' value seriousness with customary fuel, and appropriation is required to cause this industry to continue in the market. Right now, we have constrained information about the monetary ramifications. The principle goal of this investigation is to concentrate on the effect of the biofuel business on every industry part and an total yield of Thailand's economy. Thus, the biofuel business can expand the complete yield of the Thai economy, family unit pay. Nonetheless, this industry has a somewhat negative on expense and worth included. From upsides and downsides correlation, despite the fact that the administration marginally misfortune advantage in duty and worth included, yet that advantage goes to family unit salary. Thus, biofuels advancement is suggested.

Foreign Investment and Economic Growth in Thailand - Granger Causality Test -

This paper aims to study whether foreign investment causes economic growth or whether it is a consequence of increased economy in Thailand. According to the Bank of Thailand data, this study investigates only net foreign direct investment and net foreign portfolio investment by other sectors which comprise of other financial corporations and nonfinancial corporations, households, and non-profit institution serving households which cover the highest ratio of total foreign investment in Thailand as percentage of GDP. The rate of change of GDP from the Office of the National Economic and Social Development Council (NESDC) represents economic growth (GDPG). Unit Root test and Granger causality technique have been used to analyze the quarterly time series data during the period of 2009Q4 and 2018Q3. The result of Granger causality test suggest that there is no causality relationship between net foreign direct investment and net foreign portfolio investment by other sectors and economic growth in Thailand and vice versa.

Political economy of Thailand's tax-financed universal coverage scheme.

ProblemThe challenge of implementing contributory health insurance among populations in the informal sector was a barrier to achieving universal health coverage (UHC) in Thailand.ApproachUHC was a political manifesto of the 2001 election campaign. A contributory system was not a feasible option to honour the political commitment. Given Thailand’s fiscal capacity and the moderate amount of additional resources required, the government legislated to use general taxation as the sole source of financing for the universal coverage scheme.Local settingBefore 2001, four public health insurance schemes covered only 70% (44.5 million) of the 63.5 million population. The health ministry received the budget and provided medical welfare services for low-income households and publicly subsidized voluntary insurance for the informal sector. The budgets for supply-side financing of these schemes were based on historical figures which were inadequate to respond to health needs. The finance ministry used its discretionary power in budget allocation decisions.Relevant changesTax became the sole source of financing the universal coverage scheme. Transparency, multistakeholder engagement and use of evidence informed budgetary negotiations. Adequate funding for UHC was achieved, providing access to services and financial protection for vulnerable populations. Out-of-pocket expenditure, medical impoverishment and catastrophic health spending among households decreased between 2000 and 2015.Lessons learntDomestic government health expenditure, strong political commitment and historical precedence of the tax-financed medical welfare scheme were key to achieving UHC in Thailand. Using evidence secures adequate resources, promotes transparency and limits discretionary decision-making in budget allocation.

Relative effects of trade liberalization on poverty: Evidence from Thailand

Trade liberalization has long been expected to contribute to poverty reduction. The economy of Thailand provides an excellent case to study this relationship because its economy has structurally transformed in the past few decades through the export-oriented growth strategies. The purpose of this article is to examine the relative effect of Thailand’s accession to the World Trade Organization (WTO) in 1995 on poverty reduction, using a unique data set compiled from labour force survey and tariff data. Variation in production composition across provinces allows us to examine a relative impact of such trade reform. Using the instrument variable estimation, we found that provinces in which employers are concentrated in industries exposed to a greater tariff reduction experience more rapid poverty reduction and more income growth than less exposed provinces. This impact on poverty and income is also more pronounced in urban areas. We hypothesize that labour mobility is a potential channel underpinning this effect.

Structural equation model of variables influencing Thai ceramics entrepreneur organisational sustainability

The ceramics industry is vital to the economy of Thailand which globally, has been projected to reach $US705 billion by 2025. Traditionally however, for centuries the ceramics industry has been clustered in regional enclaves centred on small, entrepreneurial enterprises. This paper therefore investigated a multitude of factors including trade regulations, global competition, quality concerns, speed of development processes and production, and lack of branding and innovation, to determine the factors affecting organisational sustainability of ceramic enterprises. From the 280 Thai enterprises surveyed and analysed by use of a structural equation model by PLS-graph software it was determined that organisational performance affects organisational sustainability to the greatest extent due to monetary and non-monetary factors with an intermediate input into innovation, the business environment and business strategies. Organisational performance is also influenced by innovation and business strategies.

Thailand's Approach to Destination Resilience: An Historical Perspective of Tourism Resilience From 2002 to 2018

Thailand's inbound tourism industry has grown significantly during the early part of the 21st century. By the end of 2017, Thailand attracted the highest level of international tourist visitation of the 10-nation Association of South East Nations (ASEAN) with 35.38 million international visitors. By 2017, it was the ninth most visited country in the world and ranked second only to China as the most visited national destination in Asia. A key characteristic of Thailand's government destination management and marketing organization [Tourism Authority of Thailand (TAT)] and the private sector of Thailand's tourism industry has been a remarkable capacity for destination resilience. This article focuses on the resilience of Thailand as a destination between 2002 and 2018 through the theoretical prism of organizational resilience and the destination sustainability framework. During this period, Thailand's tourism industry overcame a range of potentially damaging crises and reputational challenges. This article seeks to explain the TAT's commitment to embedding resilience into its strategic planning. TAT's extensive implementation of effective risk and crisis management best practices has enabled Thailand's tourism market to recover rapidly from a range of challenges. TAT's commitment to resilience is enhanced by its extensive cooperation with both its private sector stakeholders and the Pacific Asia Travel Association (PATA), which is headquartered in Bangkok. The Thai tourism industry's commitment to risk and crisis management reflects the importance of tourism to Thailand's national reputation, image, and economy. TAT's close relationship with PATA and ASEAN Tourism, two transnational tourism associations with a strong commitment to destination resilience, has helped to benchmark Thailand's qualitative approach to tourism resilience. TAT demonstrates a clear appreciation that rapid recovery from crisis events and effective contingency management practice require a high level of collaboration with key stakeholders. Numerous private sector stakeholders with a vested interest in the success of Thai tourism represent all sectors of the tourism industry. They have readily contributed their resources and support to Thailand's marketing campaigns.

Nexus of tourism, terrorism, and economic growth in Thailand: new evidence from asymmetric ARDL cointegration approach

ABSTRACTThis study investigates the asymmetric (nonlinear) relationship between tourism, terrorism, and economic growth of Thailand. The study employed an annual data set that ranges from 1990 to 2017 by using a novel co-integrating technique known as asymmetric ARDL cointegration approach advanced by Shin, Yu, and Greenwood-Nimmo. The outcome of the present study revealed significant differences in the reaction of the economic growth because of negative and positive changes in tourism and terrorism. The obtained asymmetric results can be helpful for more proficient policymaking and forecasting regarding the economy of Thailand. Ignoring intrinsic asymmetries may misrepresent implication.

Impact of Subsidy and Taxation Related to Biofuels Policies on the Economy of Thailand: A Dynamic CGE Modelling Approach

Thailand is the leader in biofuel, biodiesel and bioethanol production in South East Asia, using cassava, sugar cane and palm oil as feedstock. This study used econometric estimation to feed into a recursive dynamic computable general equilibrium model to analyze the impacts of biofuel policies on the economy of Thailand. We carried out several simulations on two set of issues (a) policy of increasing excise tax that consists of 12 scenarios such as increasing excise tax on oil products at a higher rate than biofuel products. The excise tax varies from 10 to 40% and (b) policy of increasing subsidy on biofuel consisting of four scenarios by subsidizing at 10–40% rate. The simulations indicate that increasing excise tax on oil products and biofuel products would increase Thailand’s gross domestic product, social welfare and total energy consumption. For subsidy on biofuel, increasing subsidy would not lead to significant increase in GDP, social welfare and energy factors. These results imply that government should carefully decide on a balance of excise tax and subsidy, but ensure that price of biofuel products cheaper than other oil products to attractive the biofuel consumption.

The Political Economy of China–Thailand Development Under the One Belt One Road Initiative: Challenges and Opportunities

China has prospered and turned into a world superpower due to the rapid economic growth in the Old Silk Road era. President Xi Jinping of the People’s Republic of China, being aware of this fact, has the desire to revitalize the Silk Road and, thus, on his official visit to Kazakhstan in September 2014, declared the commencement of the “Belt and Road Initiative,” or “One Belt One Road (OBOR)” strategies aiming to develop bilateral and multilateral economy. Under the concept of this New Silk Road, or OBOR, China has the intention to connect and develop the infrastructure leading to central Asia and Europe. This will also cover the Southeast Asia region. Thailand, having much better geopolitical and geo-economic conditions than other Association of Southeast Asian Nations (ASEAN) countries, has been foreseen to be the hub that will link the countries both inside and outside the ASEAN region. The objective of this paper is to investigate and discuss the challenges and opportunities for Thailand under China’s OBOR strategy framework. It can obviously be viewed that China’s OBOR conforms to Thailand’s international trade strategy as being the center of connectivity with the countries both inside and outside ASEAN. And this will result in the long-lasting growth of the economy of Thailand. China’s OBOR strategies, especially the promotion of OBOR through the Southeast Asia region, will encourage cooperation between China and ASEAN in various aspects, for example, transportation, trade, investment, energy, and regional cooperation, which will directly and indirectly benefit ASEAN nations including Thailand, whose geo-economic advantage makes it suitable to be the center of the other ASEAN countries.

Empirical Research on Education for Sustainable Development in Sufficiency-Based Schools

Education for sustainable development becomes a mantra for scholars worldwide. Yet, empirical research in the field of education for sustainable development is underdeveloped, especially in an emerging Asian economy of Thailand. Thailand has progressed toward education for sustainable development with its sufficiency-based school movement to advance sustainability in education. It aims to develop and promote a whole-of-school approach to apply sufficiency thinking for sustainable development to all school activities from management and student activities to community partnerships. Sufficiency thinking is based on a framework of Sufficiency Economy Philosophy” (SEP)—an alternative approach to sustainable development, as advocated by UNDP and resonated with UN SDG Goals. To advance the limited knowledge in the field, this research paper empirically investigates what school management practices/factors, based on the SEP theoretical framework, can significantly predict enhanced education for sustainable development in schools. Survey data stem from 240 schools in Thailand. Based on results of factor analysis, a research model for educational sustainability was emerged and proposed. Findings from multiple regression analysis suggest that SEP principles, namely virtues, prudence, stakeholder focus and enabling culture, are significant predictors of enhanced education for sustainable development in Thailand, possibly applicable in other countries. Keywords: Education, sustainable development, sustainability, SDG, sufficiency economy, Asia, Thailand.

Alternative Development Concepts and Their Political Embedding: The Case of Sufficiency Economy in Thailand

Sufficiency Economy is a local Thai alternative development paradigm, which has been enshrined in the Thai constitutions since 2006 and plays a central role in Thai political discourse since the Asian Crisis in 1997. However, the conflict between different visions of development was drawn into an intra-elite struggle, in the course of which formerly emancipatory development alternatives were co-opted into a highly authoritarian project. Today, it serves as one of the ideological foundations of the military regime, which came to power in a coup d’état in 2014. The character of this regime, however, goes beyond what Ziai (2004) calls ‘enlightened authoritarianism’. It is reminiscent of fascist regimes in Europe in the 1930s. Rather than treating the concept of Sufficiency Economy as such as an authoritarian or suppressive concept, it will be argued that the authoritarian character is a result of a three-step process of politicisation which has unfolded during the last two decades.

The digital Thailand strategy and the ASEAN community

AbstractThe progress of Thailand's development needs to be monitored especially in the environment of the ASEAN Economic Community which started formally at the end of the year 2015. Furthermore, Thailand has also established the Thailand 4.0 strategy in alignment with the Thailand 12th Social and Economic Development Plan (2017–2021) and the ASEAN ICT Master Plan in order to drive the Thailand economy into a high‐income country and to be an ASEAN regional center. Because of the efficiency and effectiveness of ICT that can stimulate and support in most work areas, ICT aims to be the foundation of the country's development in other aspects. Thus, Thailand's Ministry of ICT has launched various ICT policies and programs for ICT administrators of different economic sectors because ICT has been considered as an engine of country development, and this causes Thailand to rely more on the adoption of ICT in various sectors. This study focuses on the progression of ICT development and investments, country infrastructures, the quality of the higher education system, business sophistication, and innovation, which are considered as the principal components of Thailand 4.0 strategy. The findings may assist the responsible authorities in both public and private organizations in monitoring, understanding, and expediting strategies and operations in order to achieve the objectives of Thailand 4.0 and to obtain competitive advantages across the ASEAN Economic Community. Furthermore, the findings also help to detect improvement of the Thailand's performance with respect to the 5 components development relative to the other ASEAN economies.

Chemical characterization of polycyclic aromatic hydrocarbons (PAHs) in 2013 Rayong oil spill-affected coastal areas of Thailand.

Among Southeast Asian countries, Thailand has gradually accustomed to extremely prompt urbanization, motorization, and industrialization. Chonburi and Rayong provinces are two provinces involved in "eastern seaboard" industrial zones, which is an emerging economic region that plays a key role in Thailand's economy. The 2013 Rayong oil spill did not only cause damages to the coastal and maritime environment, but also undermine trust in the overall safety system and negatively affect the investor confidence. In this study, 69 coastal soils collected around Koh Samed Island were chemically extracted and analyzed for 15 PAHs by using a Shimadzu GCMS-QP2010 Ultra system comprising a high-speed performance system with ASSP function. In this study, numerous diagnostic binary ratios were applied to identify potential sources of PAHs. Advanced statistical techniques such as hierarchical cluster analysis coupled with principal component analysis were also conducted for further investigations of source identifications.

The pursuit of original equipment manufacturer strategy: insights from an Asian country

The automotive sector is the major industry of Thailand's economy. This paper discusses the national strategy of Thailand toward the Detroit of Asia. In particular, the study analyses the pursuit of original equipment manufacturer (OEM) strategy in the Thai automotive industry, based on Porter's Diamond Model. A qualitative approach was adopted, using semi‐structured interviews to understand the reasons behind Thailand's adoption of OEM strategy and its decisions in not following other strategic approaches. The findings provide important lessons to other developing economies in terms of adopting the right strategies to improve the national performance and competitiveness. The case of Thailand is clearly evident that the Thai government chooses not to develop its own brand (OBM strategy) but pursue the OEM path to strengthen its automotive industry.

As an Economy Becomes More Developed, Do People Become Less Altruistic?

Inter-household private transfers are one of the main informal insurance mechanisms that prevalently implemented in developing countries. Unfortunately, most of the literatures investigates the private transfer motives at static perspectives. Therefore, this paper took advantage to investigate the private transfers motives in Thailand over the past three decades in order to examine any changing patterns of transfer motives. The empirical results from econometric methods indicated that as the economy in Thailand continues to develop, altruism remains dominant for private inter-household motives in Thailand and persists over time, not only in rural but also urban areas of the country.

USING CULTURAL CAPITAL FOR URBAN MANAGEMENT, KHON KAEN MUNICIPALITY, THAILAND

Creative economy development is an invaluable way to develop Thailand economy, moreover, the cultural capital development is also the important tool to develop creative economy. This qualitative research aimed to evaluate the cultural capital application in the members of KhonKaen municipal council and others for the urban management. The data were collected by using the participatory observation and in-depth interview. The results show that 1) “Isan wooden buddha statues”, a cultural capital in Isan region, have been used as “tool” of urban management which encouraged by members of KhonKaen municipal council and 2) KhonKaen municipality applied “Isan wooden buddha statues” as a “tool” and “issue” in KhonKaen urban management affairs. In conclusion, this provides an opportunity for promote people participation to conduct a new kind of related to creative the sustainable urban developmentor put the cultural content as a part of the social bonds strategies. Keywords: Urban Management/ Cultural Capital Management/ Sustainable Development