| One of the prosperous East Asian economies is | | | | trade, investment, and the growth of firms. Most |
| the economy of Thailand. It has achieved | | | | resource allocations have contributed factor |
| impressive growth rates. This growth per capita | | | | productivity. The market and private sector |
| has remained positive for several decades. In | | | | institutions, but not state economic policies |
| Thailand the state has intervened in economy, but | | | | determine them.Thailand differs from other newly |
| in a passive way.Government polices have been | | | | industrialized countries (NICs) in Asia. There |
| the most effective in maintaining a | | | | governments helped repair market failures. |
| macroeconomic equilibrium that is conducive to | | | | |