Linking Digital Development with the Economic Resilience in Thailand

DOI: https://doi.org/10.62517/jnme.202410115

Author(s)

Chunyan Du

Affiliation(s)

Financial Planning Department, China West Normal University, Nanchong, Sichuan, China

Abstract

Thailand is now a middle-income developing country, with a free economic policy. In recent years, Thailand has introduced national-level strategies such as “Thailand 4.0” and the Eastern Economic Corridor to vigorously promote infrastructure construction and the development of key industries. The strategic importance of digital economy in national development has been greatly enhanced, which has contributed to the reform of economic structure and innovation of all countries in the world. This study analyzes the impact of digital development on the resilience of the Thailand’s economy according to the data from World Bank from 1996 to 2021. The study shows that digital technology in Thailand sharply develop through these years, like e-commerce and online education. Digital development is conducive to the improvement of economic resilience and coordination, even significantly weakens external shocks on economic resilience. Economic policy uncertainty is not beneficial for economic growth and coupling coordination and the detrimental effects of economic policy uncertainty might counteract the beneficial effects of digital development.

Keywords

Thailand; Economic Resilience; Digital Development; Economic Policy Uncertainty

References

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