Monetary variables contain information to forecast stock price is still controversial. This paper examines the relationship between stock price and monetary variables in Thailand which is an Asian small open emerging economy. Monetary variables are consumer price index, nominal bilateral exchange rate in term of bath per US dollar, narrow money, and 14 days repurchased rate, employing a multivariate cointegration, VECM, variance decomposition and impulse response analysis covering the period of January 1999 to December 2012 with 168 observations. The study found a long run relationship between monetary variables and stock price. There is no short run adjustment toward the long run equilibrium but narrow money and interest rate have significant short run effect on stock price. The bidirectional causality between stock price and inflation and between stock price and narrow money are found. A unidirectional causality is found from exchange rate to stock price and from interest rate to stock price. Variance decomposition indicates that narrow money and the interest rate contribute the highest in stock price while the variance in stock price give the highest contribution to exchange rate, narrow money and inflation respectively. The impulse response analysis indicates that the stock price responses intensively to narrow money and interest rate. The monetary variables response to the shock in stock price intensively after 2 months and all responses appear to divert away along the horizon which confirms the VECM result that there is no short-run adjustment towards the long run equilibrium. The relationship facilitates investor and policy maker in making effective investment decision as well as the efficient policy designation.

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The rapid increase in economic development and urbanisation along the Eastern Economic Corridor (EEC) of Thailand has accelerated the change in its ecosystem service value (ESV), leading to the demand for related analysis to ensure sustainable growth in the area. The aim of this study is to: (1) evaluate the land use change in Chonburi Province; the most urbanised city in the EEC of Thailand between 2006 and 2016, and (2) assess the land use change impact on ESV. Secondary data from land use maps for 2006 and 2016 was used to evaluate land use change and its impact on ESV using the land use transition matrix, land use dynamic degree, and the benefit transfer method. Urban and built-up land use were found to dominate other use types. The top three highest annual rates of land use change were found in water bodies, rangeland, and urban and built-up land. The ESV in 2016 was found to be 1.31% higher than for 2006. The ecosystem service functions (ESFs) contributing to the increase in ESV were waste treatment, hydrological regulation, climate regulation and recreation and service culture. Future land use planning should focus on increasing wetlands and protecting agricultural land in the study area since these contribute to the highest ESV. In addition, it is essential to balance economic development with ecological enhancement.

Agricultural zoning is a regulatory approach that redefines property rights. The technique has been used to preserve agricultural area and ensure food security of a country. This chapter described a historically grounded approach to establish the agricultural zoning of a country and its applications for Thailand, including the analysis of its performance using the historical research method. Reviews of historical literatures, research papers, agricultural acts, government office reports, and news have identified the most crucial factor that causes agricultural zoning in Thailand to fail both at the farm level and at the country level, as the agricultural commodity price. The findings suggest that agricultural zoning in Thailand should undergo major revision by taking the agricultural commodity price into account. The agricultural commodity price set based on its origin was proposed to be appended in the existing agricultural zoning program. The method will address the two critical issues that the agricultural zoning programs in Thailand try to solve: the mismatch land-use problem and the crop price instability.

The rapid urbanization from special economic zones (SEZs) in Asia poses a risk on water crisis. This paper identifies water body change trend and its driving force of change in Chonburi province; the most urbanized area in the Eastern Economic Corridor (EEC) of Thailand, in order to analyse the root cause of water shortage in the area. Land use maps from 2006 to 2019 were used to evaluate the changing trend in water bodies using land use transition matrix and land use dynamic degree. Panel data from 364 observations in the Chonburi sub-district was used to assess the driving forces of water body change using panel data analysis. The study reveals that the water bodies are experiencing an increasing trend at the annual rate of 10.72%. The most predominant factor of change is the type of governance, followed by agricultural land use, climate change and population respectively. The results highlight the increasing trend of human-made urban water bodies, the importance of the local authority and the need of international collaboration. Therefore, the government should consider to strengthen measures and policy relative to water body change in the area in order to induce significant impact on future urban water supply.

Air pollution in the Map Ta Phut Industrial Estate in Thailand, has caused increasing risk of death, injury and health problems for local residents. Existing control measures are inef-fective due to weak law enforcement. Although the problem has drawn a lot of attention, the monetary value of the impacts of air pollution in Map Ta Phut is not known. The objective of this paper was to estimate the economic cost of air pollution damage in Map Ta Phut using theHedonic Pricing Method, with 192 house samples. The results showed that the marginal willing-ness to pay (MWTP) for a one unit reduction of AQI level was THB 2,815 or around USD 80, or each unit increase in air pollution would result in an estimated loss of THB 2,815 or around USD 80 in house price. The total value of losses to housing from one unit of air pollution in MapTa Phut which is comprise of 38 communities was THB 119.3 million (about USD 3.4 million).Detection of the loss of value has implications for local residents, housing development in-vestors, factories, and government and environmental institutions to manage air pollution as their top priority as well as to evaluate the efficiencyof existing measures and budget to deal with the problem more appropriately.