A Comparative Study of Economic Development Planning Organizations of South Korea and Thailand during 1960-1980
DOI:
https://doi.org/10.61462/cujss.v47i2.773Keywords:
National Economic and Social Development Board (NESDB), Economic Planning Board (EPB), Korean economic development, Thai economic developmentAbstract
This research paper presents a comparative study on economic development planning organizations in Thailand and South Korea during 1960-1980. Most economists have so far explained Thailand’s relative lack of progress in economic development compared to Korea in terms of differences in economic policies. In this context, this study focuses on the planning organizations that have profoundly influenced the implementation and context of economic policies in the two countries, namely South Korea’s Economic Planning Board (EPB) and Thailand’s National Economic and Social Development Board (NESDB), to identify similarities and differences in the authority, roles, and structures of the organizations as well as the factors that contributed to or obstructed the operation of the two economic development planning organizations. Four factors are identified as having contributed to the better performance efficiency of South Korea’s EPB over Thailand’s NESDB: the law, available human and external resources, the level of government support, and political stability.
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