ABSTRACT
From the beginning of the 1960s and through the first half of the 1990s, Thailand’s rate of economic growth was very impressive, with the average real rate of growth fluctuating between 8 and 12 per cent during this period. It dropped to approximately 6 per cent in 1996, and to a slightly negative rate for the first time in many decades in 1997. In 1998, the Thai economy contracted severely. This chapter asks what these macroeconomic events meant for the living conditions of the Thai people.
