1st Edition

Economic Development Parables From Siam to Thailand

By Winai Wongsurawat Copyright 2023
    134 Pages 19 B/W Illustrations
    by Routledge

    Wongsurawat looks at the history of Thailand since the mid-nineteenth century and uses events to elucidate basic economic models and concepts. He selects defining moments in Thailand’s history to convey key economic ideas worthy of classroom discussion.

    Written without excessive jargon, the chapters connect complex historical phenomena with broader, transportable economic concepts. The cases range from the signing of the Bowring Treaty in 1855, opening Siam to the forces of globalization, to the Asian Financial Crisis that wreaked havoc on the economy in 1997. Key economic terms are also explained.

    Reconnecting the increasingly distant fields of history and economics, this is an appealing text to researchers with an interest in Thailand’s economic history, as well as undergraduates undergoing an introductory economics course or overseas program in Thailand.

    Table of Contents

    1. Durianomics

    The Economics of the King of Fruits

    2. Incentives

    The Rise and Decline of Tax Farming in Early Bangkok

    3. Globalization

    The Economics of Corvée

    4. Production

    Technologies of Paddy Cultivation

    5. Institutions

    Rent Seeking and Clientelism

    6. Money

    Anatomy of a Financial Crisis

    7. Corruption

    Business and Politics in the New Millennium

    8. Tradeoffs

    The Benefits and Costs of Air Pollution Abatement


    Further Resources




    Winai Wongsurawat is an associate professor at the College of Management, Mahidol University, Thailand.