In short, Thai industrial policy is quite different from that of the East Asian NIEs
which stems from an institutional setting characterized by a hard state and strong government
discipline over the private sector as Johnson (1982) pointed out in his seminal work on Japan:
The government will give greatest precedence to industrial policy, that is , to a
concern with the structure of domestic industry and, with promoting the structure that
enhances the nation’s international competitiveness. The very existence of an industrial
policy implies a strategic, or goal-oriented approach to economy (Johnson, 1982).
Such a setting falls short in Thailand. This leads one to be cautious whether Thailand
is able to emulate the industrial policy in the East Asian NIEs.
In short, Thai industrial policy is quite different from that of the East Asian NIEswhich stems from an institutional setting characterized by a hard state and strong governmentdiscipline over the private sector as Johnson (1982) pointed out in his seminal work on Japan:The government will give greatest precedence to industrial policy, that is , to aconcern with the structure of domestic industry and, with promoting the structure thatenhances the nation’s international competitiveness. The very existence of an industrialpolicy implies a strategic, or goal-oriented approach to economy (Johnson, 1982).Such a setting falls short in Thailand. This leads one to be cautious whether Thailandis able to emulate the industrial policy in the East Asian NIEs.
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