This paper reviews the major growth accounting studies of Thailand’s economy. A
substantial amount of research has been done to identify the sources of economic growth in
Thailand, and the review focuses on six major studies that are representative of the range of
results. Differences in the studies’ conclusions can be traced to two principle issues. First, there
are substantial variations in the measures of improvement in the quality of the labor inputs.
Some studies make no adjustment while others find a very large improvement due to gains in
educational attainment. Some of the methodologies, such as the use of changes in the economywide
average wage rate, seem inappropriate as means of estimating changes in the quality of the
workforce.