In order to create economic growth as a means to achieve the development
goal, a strong case can be made that developing countries should adopt the so-called
liberal market-oriented policies. Since the Second World War, Thailand has chosen to
take this route. With the emergence of development economics and international
development institutions such as the World Bank, the UNDP etc, after the Second
World War, Thailand took advantage of the situation to pursue its development
policies. With the help of a world bank team in 1957, Thailand developed a blueprint
for the country’s economic development.2 The development strategy implicit in this
blueprint contained the following elements,