The Philippines and Thailand are the two countries in the Southeast Asian region
that share the most similar economic characteristics. In the 1950s and the 1960s, the
growth performance of both countries was similar. However, in the 1970s, when both
countries faced similar kinds of external shocks, growth performance began to differ. By
the mid 1980s, comparative economic performance became clear: Thailand was growing
at a rate of more than 10 per cent per year in real terms while the...[Show more]
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