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I. INTRODUCTION
Thailand's economy is defined by more than a decade of continuous and rapid economic growth starting in 1985, followed by a brutal recession that started near the end of 1997. During the boom years, economic growth averaged more than 7 percent annually, one of the highest rates in the world. Many different factors added to the rapid growth of Thailand's economy; low wages, policy reforms that opened the economy more to trade, and careful economic management resulted in low inflation and a stable exchange rate. These factors encouraged domestic savings and investment and made the Thai economy an ideal host for foreign investment. As industry expanded, many Thai people who previously had worked in agriculture began to work in manufacturing, slowing growth in the agriculture sector. Meanwhile, manufacturing growth spurred the expansion of service sector activities.
In the early 1990s a series of economic policy reforms introduced by the Thai government made it easy......

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Approximate Word Count: 6098
Approximate Pages: 25 (250 words per double-spaced page)

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