Education and natural resources in economic development: Thailand compared with Japan and Korea

The Contribution of Human Capital towards Economic Growth in China

“…Douangngeune, Hayami and Godo (2005) found empirical evidence that Thailand's slower economic and educational progress was the consequence of the presence of a large amount of natural resources, especially land, as such abundance of resources draws investments away from education; in contrast to Korea and Japan, where the relative scarcity of natural resources has helped to direct investments into human capital formation. Hayami and Ruttan (1985) made the point that if an increase in output can be facilitated through greater exploitation of resources, the inducement to develop new technologies is small.…”

Fiscal Decentralization and Development

“…Firstly, it is well known that human capital accumulated through education is the major source of economic development (Becker 1993). In this respect, Douangngeune et al (2005) compare Thailand with Japan and Korea, and suggest that Thailand's slower economic progress has been due to its slower educational development in the twentieth century. Secondly, regarding Thailand's decentralization, educational decentralization has been noted for its slow progress, due mainly to heterogeneity in local governments' fiscal capacity, which is discussed in section 6.2.…”

“…However, the plan was not necessarily achieved as well as it was in other countries. As is mentioned above, Douangngeune et al (2005) hypothesize that Thailand's slower economic growth relative to Japan and Korea has been due to its slower educational development. According to their long-term regression analysis, this is because Thailand has abundant land resources that negatively affect educational investment, whereas Japan and Korea have tended to depend on human capital accumulated through education due to their land scarcity.…”

Policies and pattern of industrial development in Thailand

“…The purpose of such grouping is to illustrate the growth performance of the different industrialization strategies under two regimes, such as the import substitution (IS) and export promotion (EP) regimes. It should be noted that Thailand had pursued a typical IS industrialization strategy between the early 1960s and the mid-1980s (IFCT 1991Douangngeune et al 2005;BOI 2006).…”