Impact of Changes in Capital Flows from Japan, European Union, and ASEAN on Thailand’s Economy
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Abstract
This research aims to develop economic models to study impact of changes in capital flows from Japan, European Union, and ASEAN on Thailand’s economy, and analyse the impact of changes in capital flows from Japan, European Union, and ASEAN on Thailand’s economy in both short run and long run. The results revealed that there was 1 cointegration for each model. The results of long run equilibrium test showed that capital flows in term of foreign direct investment from Japan, capital flows in term of portfolio investment from ASEAN countries, and capital flows in term of portfolio investment from European Union were the variables influencing Thailand’s economic indicators especially real GDP. The results of short run equilibrium test revealed that capital flows in term of portfolio investment from European Union was the variable influencing both real GDP and unemployment rate. It could be recommended that the policy makers should launch some investment supporting scheme such as tax privileges and non-tax benefits as well as increasing investors’ confidence to create opportunity for long run economic growth.
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ลิขสิทธิ์ของบทความ
ผลงานที่ได้รับการตีพิมพ์ถือเป็นลิขสิทธิ์ของมหาวิทยาลัยหอการค้าไทย ห้ามมิให้นำเนื้อหา ทัศนะ หรือข้อคิดเห็นใด ๆ ของผลงานไปทำซ้ำ ดัดแปลง หรือเผยแพร่ ไม่ว่าทั้งหมดหรือบางส่วนโดยไม่ได้รับอนุญาตเป็นลายลักษณ์อักษรจากมหาวิทยาลัยหอการค้าไทยก่อน
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