ABSTRACT

Most studies of Thailand’s development consider the coup d’état of October 1958 and the establishment of the regime of Marshal Sarit Thanart as marking the beginning of the modern economic growth of the Kingdom. However, it is important not to overlook the foundations that were laid during the 1950s by the Pibul government (see Chapter 2) or to exaggerate the differences between the policies of the two regimes. During 1957 and 1958 there were clear signs that the Pibul government was beginning to shift economic policy in the directions advocated by the 1957 World Bank mission and towards those subsequently followed under Sarit (see comments on policy in Ingram, 1971:231).