Transparency in Thailand's 1997 economic crisis: the significance of disclosure

Article Abstract:

The absence of transparency and disclosure in financial and business transactions are the main reasons for the collapse of Thailand's economy in 1997. Thailand has experienced a robust economic growth since 1980 with GDP reaching a high of 8.4% during 1990-1995 due to high literacy rate, increased foreign investment and political stability. However, speculations on the baht and the increase in economic credit contributed to the start of the financial crisis. The increased credit expansion provided by banks to the manufacturing and real estate sectors compounded the financial problem.

Economic aspects, Economic history, Disclosure statements (Accounting), Depressions, Economic depressions, Baht (Thailand)

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On pragmatism and politics in Thailand: Major General Chamlong Srimuang

Article Abstract:

Chamlong Srimuang has always been pragmatic in his political decisions. Chamlongs actions are governed by his strong principles, which enhance his personal political power. When his involvement in Thai politics becomes a liability, Chamlong tends to disassociate himself. He makes calculated risks and insulates himself from defeat by avoiding elections. There are also instances when Chamlong has to compromise his principles.

Political activity, Political aspects, Generals, Chamlong Srimuang

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