Thai Capital After the 1997 Crisis

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The 1997 crisis was not only a massive shock but also a major turning point for Asian economies. In Thailand, it marked the end of an era when the economy was powered by local entrepreneurship. Around a quarter of major business groups were wrecked. Foreign capital poured in. The engine of growth is now an export economy dominated by multinationals, while domestic capital is confined to service and rentier activities. This book, the product of a four-year project by a dozen researchers, provides a panorama of this jolting ...

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