Thanet Wattanakul

(Department of Economics, School of Humanities and Applied Social Sciences, Nong Khai Campus, Khon Kaen University, Muang, Nong Khai 43000, Thailand)

 

Abstract: Many developing Asian countries, particularly those in ASEAN, have recovered from the 1997 Asia crisis, as a result of both domestic stimulus package and IMF rescue policies. Other bilateral, regional trade and investment liberalisation agreements have also been important contributing factors in the region’s sustainable long-run growth. However, the emergence of the global financial crisis (GFC) due to chiefly to the US financial institutions’ excesses during the 2008/09 have deeply affected the global economy. Especially affected have been developing Asian economies and their ongoing economic integration. This paper examines the casual and sequential relationship between the GFC, economic growth and current trade agreements in developing Asia, and then discusses the major policies and their implications particularly for Thailand and the ASEAN Economic Community, that are required to mitigate the negative effects of the GFC as well as to enhance post-CFC benefits from both bilateral and regional trade agreements.

 

Key words: global financial crisis; regional growth; free trade agreements; trade and investment policy;

Thailand’s growth; asean economic community

 

JEL Codes: F14, F15

 

 

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