Thailand's Transformation Into a Newly Industrialized Country:

agricultural sector Annual Growth Rates average baht balance of payments Bangkok Bangkok metropolitan area Bank of Thailand capita income capital formation capital goods imports capital intensive consumer crop decades decline demand early employment elasticity employment growth exchange rates export promotion policy export-oriented external factors foreign investment GDP share government expenditures grew Gross Domestic Product growth of industrial high growth higher import substitution import-substitution industries import-substitution policy incentives income distribution income gap increased industrial growth industrial sector industrialization policy infrastructure interest rates labor force LDCs machinery and equipment mainly maize manufactured exports manufacturing sector employment NEWLY INDUSTRIALIZED COUNTRY NICs open unemployment Percentage Distribution period private sector problems processed food protection protectionism protectionist rapid growth ratio raw materials recession result rice rural sector Structural Change substitution industries substitution policy Table tariffs taxation taxes technology transfer Thai industrial total imports unskilled labor workers world economic world trade