Another endearing recommendation that originated from the discussion was the
proposal to invite greater public participation using the methodology applied by the
National Economic and Social Development Board’s (NESDB) to draw up Thailand’s
Ninth National Economic and Social Development Plan.4 Prior to this, financial sector
development often applied the top-down approach dominated by regulators and policy
makers. The procedure used by the NESDB on the other hand opens the door for a
bottom-up approach by soliciting public comments and debates via hearings and focus
groups. Using this methodology, researchers would therefore be able to capture and
distill complex issues into manageable topics while at the same time generating
proposals that respond to actual market and grass-root demands.