The Role of the Political System in the Direction of Economic Development in Thailand

Abstract

The political system shapes the direction and structure of the economy, particularly in Thailand, where it is highly dependent on political stability and government policies. This study aims to analyze the relationship between the political system and the development of the Thai economy, including fiscal policy, investment, income distribution, and the creation of economic opportunities for the people. The results of the analysis indicate that: When the political system is stable, transparent, and adheres to the principles of good governance, it facilitates investment, economic growth, and social stability. However, if politics is unstable or subject to interference, it will create a lack of direction in economic management, leading to inequality and slowing development. Therefore, an appropriate political and governance system must strike a balance between state and market mechanisms to ensure sustainable and inclusive growth in the Thai economy. The study found that democracy is a model that facilitates social participation and the development of equality, but it relies on the strength of political institutions and a democratic culture. Meanwhile, a dictatorship, while capable of quickly gaining control of power, lacks legitimacy and the fundamental rights of citizens. The monarchy, on the other hand, relies on its role. Thailand's political, administrative, and economic systems have adapted to the times. In summary, the appropriate governance system for any society depends on political, economic, and cultural factors that are consistent with its context.

Keywords: Role, Political System, Economic Development