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E-book
Author Klyuev, Vladimir

Title Structural transformation : how does Thailand compare? / prepared by Vladimir Klyuev
Published [Washington, D.C.] : International Monetary Fund, ©2015

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Description 1 online resource (30 pages) : color illustrations
Series IMF working paper, 1018-5941 ; WP/15/51
IMF working paper ; WP/15/51.
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
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."
"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
Migrant labor -- Thailand
Structural adjustment (Economic policy) -- Thailand
Agriculture -- Labor productivity
Economic policy
Migrant labor
Structural adjustment (Economic policy)
SUBJECT Thailand -- Economic policy. http://id.loc.gov/authorities/subjects/sh00002661
Subject Thailand
Form Electronic book
Author International Monetary Fund. Asia and Pacific Department.
ISBN 9781498303699
1498303692
1498395333
9781498395335