Description |
1 online resource (30 pages) : color illustrations |
Series |
IMF working paper, 1018-5941 ; WP/15/51 |
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IMF working paper ; WP/15/51.
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Contents |
Cover Page; Title Page; Copyright Page; Contents; Table; Figure; Appendix; I. Introduction; 1. Real GDP per Capita Growth Rate; II. Data; 2. Thailand: Agricultural Employment; III. How Does Thailand Compare with Other Economies?; 3. Value Added per Worker; 4. Value Added per Worker Relative to Economy-Wide Average; 5. Employment Shares; 6. Employment in Agriculture and GDP per Capita in Selected Asian Economies; 7. Employment in Agriculture and GDP per Capita in Emerging Market and Developing Economies; 1. Weighted Coefficient of Variation; 8. Scaled Covariance; IV. More Detailed Breakdown |
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9. Scaled Covariance for Selected Countries10. Value Added per Worker; V. Dynamics; 11. Evolution of Employment Shares and Productivity in Thailand; VI. Model; 12. Impact of Guaranteed Price; 13. Impact of Minimum Wage; VII. What Explains Thailand's Idiosyncrasies?; 14. Thailand: Share of Agriculture in Employment; VIII. Policy Implications; IX. Conclusions; References; Appendix I: Productivity Growth Decomposition; Footnotes |
Summary |
Thailand stands out in international comparison as a country with a high dispersion of productivity across sectors. It has especially low labor productivity in agriculture---a sector that employs a much larger share of the population than is typical for a country at Thailand's level of income. This suggests large potential productivity gains from labor reallocation across sectors, but that process--which made a significant contribution to Thailand's growth in the past--appears to have stalled lately. This paper establishes these facts and applies a simple model to discuss possible explanations. The reasons include a gap between the skills possessed by rural workers and those required in the modern sectors; the government's price support programs for several agricultural commodities, particularly rice; and the uniform minimum wage. At the same time, agriculture plays a useful social and economic role as the employer of last resort. The paper makes a number of policy recommendations aimed at facilitating structural transformation in the Thai economy.--Abstract |
Notes |
"March 2015." |
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"Asia and Pacific Department." |
Bibliography |
Includes bibliographical references (pages 28-29) |
Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed March 6, 2015) |
Subject |
Agriculture -- Labor productivity -- Thailand
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Migrant labor -- Thailand
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Structural adjustment (Economic policy) -- Thailand
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Agriculture -- Labor productivity
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Economic policy
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Migrant labor
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Structural adjustment (Economic policy)
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SUBJECT |
Thailand -- Economic policy.
http://id.loc.gov/authorities/subjects/sh00002661
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Subject |
Thailand
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Form |
Electronic book
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Author |
International Monetary Fund. Asia and Pacific Department.
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ISBN |
9781498303699 |
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1498303692 |
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1498395333 |
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9781498395335 |
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