Financial policies of the Bank of Thailand (BOT) and financial development of Thailand 1962-1996

This thesis tests the financial development policies implemented by the Bank of Thailand (BOT) from 1962 to 1996. In particular, two questions are answered in this study: Did those policies contribute positively or negatively to financial development? If so, why did the BOT’s financial policies exhibit such effect on financial development?The first question is initially answered by relying on two theoretical frameworks. The first theory, financial intervention theory (Courakis, 1984; Demetriades and Luintel, 1996a), argues...
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