Thailand 'stuck in middle-income trap' | Bangkok Post: business

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Thailand 'stuck in middle-income trap'

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Despite undergoing dramatic economic transformation, Thailand is caught in a middle-income trap due to persistent income inequality, low education quality and an oligarchic political structure, say academics. 

"Inequality has not improved much in Thailand and it seems to be very persistent, suggesting a structural problem," said Pornthep Benyaapikul, a Thammasat University lecturer in economics, at a seminar titled "Middle-Income Trap: Economic Myth-Political Reality: Case Studies of Malaysia and Thailand".

The relationship between growth and equality is complementary, especially when the country's income reaches a certain level.

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