ABSTRACT
During the 1970s to the early 1980s, Thailand liberalised its financial system through the removal of foreign capital controls in order to allow money to move more easily both inside and outside the country. Consequently, Thailand’s economy expanded rapidly, and the country experienced a real gross domestic product growth of more than 8 percent annually over a period of over ten years (Layne 2002). The massive flow of currency in Thailand boosted domestic economic activities and impacted Thailand’s Gross Domestic Product (GDP) to grow at a significantly greater rate than in the past.
