Fiscal Multiplier of Economic Stimulation Measures of Thailand

Authors

  • Pawin Siriprapanukul Faculty of Political Science, Chulalongkorn University

DOI:

https://doi.org/10.61462/cujss.v55i1.3810

Keywords:

Fiscal Multiplier, Discretionary Fiscal Policy, Economic Stabilization Policy

Abstract

This study estimates the fiscal multiplier using a widely accepted econometric procedure at present, applying five different datasets to reflect government spending. The estimates of government spending multipliers in this study are at 0.25-0.49, which are lower than 1. This indicates the ineffectiveness of economic stimulation measures in Thailand, a small open economy, equipped with a large informal sector. The resulting government spending multipliers are estimated based on the government's budget disbursement data, which does not cover disbursements for the principal repayment of debt and expenditures for the replenishment of the treasury account balance/reserve fund. This dataset is more consistent with the government's implementation of economic stabilization measures than the dataset used in previous studies.

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Published

16-06-2025

How to Cite

Siriprapanukul, Pawin. 2025. “Fiscal Multiplier of Economic Stimulation Measures of Thailand”. Chulalongkorn University Journal of Social Sciences 55 (1). Bangkok, Thailand:29-55. https://doi.org/10.61462/cujss.v55i1.3810.

Issue

Vol. 55 No. 1 (2025): January - June

Section

Research Articles

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