Most mainstream economists in Thailand usually lend support to improving an inadequate
infrastructure. My argument, while not entirely opposed to the removal of this real physical
constraint, draws attention to a more important infrastructure that is a legal system which
allows the effective implementation of private contract as well as contracts between the
private sector and the state (see Stiglitz, 1992). In the case of Thailand, the role of the state is
not merely ambiguous, but also very vague (Siriprachai, 1995b). In some economic sectors,
for instance, the state can enforce the law and maintain political stability, but in many cases,
the state is too weak to protect private property rights, or even public property.
Most mainstream economists in Thailand usually lend support to improving an inadequateinfrastructure. My argument, while not entirely opposed to the removal of this real physicalconstraint, draws attention to a more important infrastructure that is a legal system whichallows the effective implementation of private contract as well as contracts between theprivate sector and the state (see Stiglitz, 1992). In the case of Thailand, the role of the state isnot merely ambiguous, but also very vague (Siriprachai, 1995b). In some economic sectors,for instance, the state can enforce the law and maintain political stability, but in many cases,the state is too weak to protect private property rights, or even public property.
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