The period from 1944 to 1947 was a rough one
politically and economically, with five governments and
ten cabinets. Inflation reached 100 percent during the
period, and overt official corruption increased public
unrest. The civilian government was further destabilized
by the mysterious death of the young King Ananda
(Rama VIII) who was found shot in bed in 1946 (Dixon
1999, 69). In 1947 a military coup overthrew the
government and resulted in the establishment of a
military government under Phibun Songkhram in 1948.
Phibun Songkhram was prime minister from 1948
to1957, when he was forced into exile as the result of a
coup sparked by charges of election-rigging (Warr and
Bhanupong 1996, 13). Field Marshal Sarit Thanarat,
who took control, appointed two prime ministers, first
Pote Sarasin (September-December 1957) and then
General Thanom Kittikachorn (January-October 1958).
In October 1958 Sarit assumed the premiership himself.
Sarit‘s government soon arrested many people it
suspected of being communists and dissolved
Parliament. However, an important event, which may be
considered a milestone in Thailand’s modern economic
system, was a World Bank advisory mission sent in
1957 to work with Thai counterparts. In addition to
making a number of sensible economic
recommendations, this technical assistance mission
resulted in the adoption of Thailand’s First National
Economic Development Plan in 1961.