External shocks and macroeconomic adjustments in the Philippines and Thailand : a comparative study
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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