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Asia and Pacific > Thailand

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
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Cover IMF Working Papers
Demographics and Interest Rates in Asia
Mr. Serkan Arslanalp
,
Mr. Jaewoo Lee
, and
Umang Rawat
Demographic developments have been regarded as one important cause of the long-term movement in global interest rates. This paper provides empirical evidence of the relationship between demographics and interest rates over a wide sample of advanced and emerging market economies. It also finds that capital account openness limits the direct sensitivity of a country’s interest rates to its own demographics. The results suggest that future demographic developments will continue to apply downward pressure on the interest rates in Asia which foresees a rapid aging.
Keywords:
WP; interest rate; real interest rate; rate of interest; demographics; interest rates; capital account openness; world interest rate; interest rate adjustment; dependency ratio; real interest rate increase; adjustment to saving; interest rate environment; aging speed; Real interest rates; Aging; Demographic change; Long term interest rates; Asia and Pacific; Global
Cover IMF Staff Country Reports
Thailand: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This paper discusses selected issues related to the economy of Thailand. The economy of Thailand is largely dependent on China. A 1 percent decline in China’s GDP lowers Thailand’s output by about 0.2 percent. Population aging is another major issue in Thailand. This Association of Southeast Asian Nations country will face the dual challenge of increasing the coverage of the social security system and ensuring its long-term sustainability. Thailand’s financial sector has expanded rapidly over the last decade, and important changes in its structure have taken place. While corporate debt has remained broadly stable, household debt has increased to one of the highest levels among emerging markets, raising concerns about household debt overhang.
Keywords:
ISCR; CR; Thailand; China; GDP; Other Asean-5 Countries; household debt; China shock; dependency ratio; public health expenditure; wage cap; employees of state enterprises; Pensions; Pension spending; Aging; Exports; Commercial banks; Global
Cover IMF Working Papers
Potential Growth in Emerging Asia
Rahul Anand
,
Mr. Kevin C Cheng
,
Sidra Rehman
, and
Ms. Longmei Zhang
Using three distinct approaches—statistical filtering, production function, and multivariate model— this paper estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in potential growth, largely reflecting a decline of total factor productivity (TFP) growth; (ii) by contrast, trend growth for the five ASEAN countries has been rather stable and might even have increased marginally, with the notable exception of Vietnam;(iii) over the longer term, demographic factors will be much more supportive in India and some ASEAN economies than in China, where working-age population should start shrinking, with the overall dependency ratio climbing by the end of this decade. Improving or sustaining potential growth calls for broad structural reforms.
Keywords:
WP; ASEAN economy; China; economy; trend growth; India; potential growth; total factor productivity; emerging Asia; dependency ratio; inflation picture; non-accelerating inflation rate of unemployment; production function; Capital accumulation; Inflation; Aging; Labor force participation; Asia and Pacific
Cover IMF Working Papers
Welfare Implications of HIV/AIDS
Mr. Markus Haacker
and
Mr. N. F. R. Crafts
The paper evaluates the impact of HIV/AIDS on welfare in several countries affected by the HIV/AIDS epidemic. Unlike studies focusing on the impact of HIV/AIDS on GDP per capita, we evaluate the impact of increased mortality using estimates of the value of statistical life. Our results illustrate the catastrophic impact of HIV/AIDS in the worst-affected countries and suggest that studies focusing on GDP and income per capita capture only a very small proportion of the welfare impact of HIV/AIDS.
Keywords:
WP; life expectancy; Welfare; HIV/AIDS; value of statistical life; Africa; adult HIV prevalence rate; income elasticity; mortality risk; welfare loss; no-AIDS scenario; HIV and AIDS; Personal income; Aging
Cover IMF Working Papers
Implications for Savings of Aging in the Asian “Tigers”
Mr. Steven A. Symansky
and
Mr. Peter S. Heller
Significant aging is projected for many high-saving emerging economies of East and Southeast Asia. By 2025, the share of the elderly in their populations will at least double in most of these countries. The share of the young will fall. Aging populations could adversely affect saving rates in these economies, particularly after 2025. For the world, one may observe that, initially, the Asian Tigers could become increasingly important for world savings, reflecting their increased weight in the world economy, their high saving and growth rates, and the aging of the industrial countries. After 2025, the aging of the Tigers may reinforce the tendency toward a declining world saving rate.
Keywords:
WP; saving rate; world saving; household savings data; dependency rate; high-saving country; private sector; Tiger saving; Aging; Asia; saving; savings; demographics; savings imbalance; rate Tigers; savings behavior; Private savings; Public sector savings; Demographic change; East Asia; Southeast Asia; Global
Cover IMF Working Papers
Saving Trends in Southeast Asia: A Cross-Country Analysis
Mr. Hamid Faruqee
and
Mr. Aasim M. Husain
This paper investigates the long-run pattern of private saving in Indonesia, Malaysia, Singapore, and Thailand. These countries have not only maintained saving levels that are currently among the highest in the world but have also experienced a sustained increase in their rate of private saving over the past twenty years. Using a cointegration approach, this paper empirically examines the economic determinants underlying the saving trends in this group and the extent to which these countries share a common experience with respect to the factors accounting for their strong saving performance. The findings suggest that demographic shifts have been an important factor underlying regional saving trends with a similar long-run impact in each country, except for Indonesia where the effects of demographics have been even more pronounced.
Keywords:
WP; saving rate; time series; critical value; country estimate; saving scheme; coefficient estimate; panel estimation; estimation result; Engle-granger estimate; Private savings; Disposable income; Income; Aging; Southeast Asia