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The impacts of debt-financed government budget deficit spending on economic and social development in Thailand, 1961-1985
Abstract
The study investigates the effects of debt-financed government budget deficit expenditures upon the Economy of Thailand. It develops models to quantify the total crowding out effects, the capitalization of debt into savings, the portion of the debt passed on to the future generations, and the welfare effects of the government deficit spending. Thus, even though the government budget deficits have contributed to economic growth, to higher savings, and to enhancement of social welfare in Thailand, they also have led to the mushrooming of the size of the deficits and of the public debt. The study found that the total crowding out effects were about 12 percent, that 69.8 percent of the public debt was capitalized into savings and a little over 30 percent was passed on to future generations, and that the budget deficit expenditures did in fact improve the social welfare of the Thai people. The author recommends that the Thai government critically reexamine its budget policies for possible modification of the use of budget deficits to achieve economic development and social change.
Subject Area
Finance|Business costs|Economic theory|Social structure
Recommended Citation
Siwapradit, Prawpan, "The impacts of debt-financed government budget deficit spending on economic and social development in Thailand, 1961-1985" (1988). ETD collection for University of Nebraska-Lincoln. AAI8824954.
https://digitalcommons.unl.edu/dissertations/AAI8824954