Modelling the overall impacts of COVID-19 on the Thai economy
AbstractGiven that estimating the comprehensive and precise impacts of the COVID-19 crisis is challenging, this paper aims to quantify the overall impacts of the COVID-19 on Thai economy both at the macroeconomic and household levels. Our finding indicates that if government supports are not impleme...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2023-06-01
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| Series: | Cogent Economics & Finance |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2023.2242171 |
| _version_ | 1797768114937528320 |
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| author | Sasatra Sudsawasd Taweechai Charoensedtasin Nuttawut Laksanapanyakul Piriya Pholphirul |
| author_facet | Sasatra Sudsawasd Taweechai Charoensedtasin Nuttawut Laksanapanyakul Piriya Pholphirul |
| author_sort | Sasatra Sudsawasd |
| collection | DOAJ |
| description | AbstractGiven that estimating the comprehensive and precise impacts of the COVID-19 crisis is challenging, this paper aims to quantify the overall impacts of the COVID-19 on Thai economy both at the macroeconomic and household levels. Our finding indicates that if government supports are not implemented, the country’s GDP could fall by 13.66 percent—the most important transmission channels of this severe impact coming from inbound and domestic tourism demand shocks. The pandemic has also significantly increased the level of poverty in Thailand. And those people facing the greatest risk of falling into poverty tend to be those living in urban areas, especially in metropolitan Bangkok, as well as those whose head of household is working in the tourism sector. In exploring the effectiveness of the mitigation measures implemented by the Thai government, our findings also show that such mitigation measures could successfully help lower the numbers of poor and almost poor people to below those of the Pre-COVID-19 era. |
| first_indexed | 2024-03-12T20:48:53Z |
| format | Article |
| id | doaj.art-1f67cb1989474c51bece92780b20273f |
| institution | Directory Open Access Journal |
| issn | 2332-2039 |
| language | English |
| last_indexed | 2024-03-12T20:48:53Z |
| publishDate | 2023-06-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj.art-1f67cb1989474c51bece92780b20273f2023-08-01T06:23:37ZengTaylor & Francis GroupCogent Economics & Finance2332-20392023-06-0111210.1080/23322039.2023.2242171Modelling the overall impacts of COVID-19 on the Thai economySasatra Sudsawasd0Taweechai Charoensedtasin1Nuttawut Laksanapanyakul2Piriya Pholphirul3Graduate School of Development Economics, National Institute of Development Administration, Bangkok, ThailandInstitute of Future Studies for Development, Bangkok, ThailandThoedthai Road, Bangyeeroa, Bangkok, ThailandCenter of Development Economics Studies, National Institute of Development Administration, Bangkok, ThailandAbstractGiven that estimating the comprehensive and precise impacts of the COVID-19 crisis is challenging, this paper aims to quantify the overall impacts of the COVID-19 on Thai economy both at the macroeconomic and household levels. Our finding indicates that if government supports are not implemented, the country’s GDP could fall by 13.66 percent—the most important transmission channels of this severe impact coming from inbound and domestic tourism demand shocks. The pandemic has also significantly increased the level of poverty in Thailand. And those people facing the greatest risk of falling into poverty tend to be those living in urban areas, especially in metropolitan Bangkok, as well as those whose head of household is working in the tourism sector. In exploring the effectiveness of the mitigation measures implemented by the Thai government, our findings also show that such mitigation measures could successfully help lower the numbers of poor and almost poor people to below those of the Pre-COVID-19 era.https://www.tandfonline.com/doi/10.1080/23322039.2023.2242171covid-19 pandemicpovertyimpact mitigating measuresgeneral equilibrium modelmicrosimulationThailand |
| spellingShingle | Sasatra Sudsawasd Taweechai Charoensedtasin Nuttawut Laksanapanyakul Piriya Pholphirul Modelling the overall impacts of COVID-19 on the Thai economy Cogent Economics & Finance covid-19 pandemic poverty impact mitigating measures general equilibrium model microsimulation Thailand |
| title | Modelling the overall impacts of COVID-19 on the Thai economy |
| title_full | Modelling the overall impacts of COVID-19 on the Thai economy |
| title_fullStr | Modelling the overall impacts of COVID-19 on the Thai economy |
| title_full_unstemmed | Modelling the overall impacts of COVID-19 on the Thai economy |
| title_short | Modelling the overall impacts of COVID-19 on the Thai economy |
| title_sort | modelling the overall impacts of covid 19 on the thai economy |
| topic | covid-19 pandemic poverty impact mitigating measures general equilibrium model microsimulation Thailand |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2023.2242171 |
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