Chulalongkorn University Theses and Dissertations (Chula ETD)
Other Title (Parallel Title in Other Language of ETD)
ผลกระทบของหนี้สาธารณะต่อการเจริญเติบโตทางเศรษฐกิจ: กรณีศึกษาของประเทศไทย
Year (A.D.)
2021
Document Type
Independent Study
First Advisor
Nipit Wongpunya
Faculty/College
Faculty of Economics (คณะเศรษฐศาสตร์)
Degree Name
Master of Arts
Degree Level
Master's Degree
Degree Discipline
Business and Managerial Economics
DOI
10.58837/CHULA.IS.2021.44
Abstract
This study investigates how public debt affects Thailand’s economic growth, covering 2005 to 2019. The model runs through 3 macroeconomic indicators; namely, Public debt, Personal Income Tax, and Real Gross Domestic Product, which represent economic growth. All of them are examined by Vector Error Correction Model and Granger Causality approach. The evidence shows that public debt and income tax are related to Thailand’s growth in different directions; the former is favorable while the latter is negative at a 5% significance level. Likewise, the speed of adjustment is at 15%. The paper suggests that the government can run up the national debt, however, they should confirm transparency of objectives and the process, maintain their fiscal discipline, and monitor it to the proper Debt-to-GDP ratio.
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Recommended Citation
Chaisaard, Kanpimon, "The impact of public debt on economic growth: evidence from Thailand" (2021). Chulalongkorn University Theses and Dissertations (Chula ETD). 7660.
https://digital.car.chula.ac.th/chulaetd/7660