Business Groups and the Thailand Economy examines the role of business groups, specifically state, local, and foreign capitals in the economic development of emerging economies and highlights why business groups are essential in helping a country break out of the middle-income trap.

Wailerdsak reviews Thailand’s industrial and economic growth strategies through the local and international investors and explains why business groups are one of the key drivers of economic advancement and why they help to avoid the middle-income trap. The author also examines their business power expansion methods, including selection and specialization, political influence, mergers and acquisitions, outward FDI and business alliances. The book concludes with policy recommendations of how the government can engage business groups to accelerate high-tech industrialization and create jobs.

The middle-income trap issue faced by Thailand would be of interest to many emerging economies, especially scholars and policymakers researching on Asian business and management, Asian economies, developmental economics, political economy, policy studies, corporate governance, entrepreneurship, and private company strategic management in emerging countries.

chapter |11 pages


part I|76 pages

Theory and issues

chapter Chapter 1|16 pages

Catch-up industrialization theory

chapter Chapter 2|20 pages

Middle-income trap

chapter Chapter 3|20 pages

Developmental states and business groups

chapter Chapter 4|18 pages

Dependency theory and multinational corporations

part II|66 pages

Policies toward innovation-driven growth

chapter Chapter 5|23 pages

Upper-middle-income development model

chapter Chapter 6|19 pages

High-income development model

chapter Chapter 7|22 pages

EEC plan and foreign investors

part III|98 pages

Thai business groups approaching the middle-income trap

chapter Chapter 8|28 pages

Business concentration

chapter Chapter 9|27 pages

Expanding business power

chapter Chapter 10|27 pages

Family business trap

chapter Chapter 11|14 pages

Conclusion and policy recommendations