The Political Economy of Competition Law in Asia

The Political Economy of Competition Law in Asia

Edited by Mark Williams

This detailed book describes and analyses the essential political economy features that provide the backdrop to the competition policies and competition law regimes of several of the most important Asian economies.

Chapter 8: Thailand

R. Ian McEwin and Sakda Thanitcul

Subjects: asian studies, asian law, law - academic, asian law, competition and antitrust law

Extract

Thailand has progressed economically from a low to a middle-income country in a few decades. But, as the World Bank put it, Thailand faces ‘a real challenge of sustaining its growth and transitioning into a higher income country’. As Doner says: Thailand has achieved stunning GDP growth rates and has diversified out of a small number of agricultural products to become a global export leader in a wide range of agricultural and industrial goods . . . yet this impressive performance has been due largely to the efficient accumulation and mobilization of factor inputs rather than improvements in productivity. Similarly, Warr shows that productivity increases over a recent 20-year period were considerably higher in the agricultural and manufacturing sectors than in the more highly regulated (including entry restrictions that limit competition) service industries.

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