Transitional democracies and the shift to export-led industrialization: Lessons from Thailand |
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Authors: | Michael T Rock |
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Institution: | (1) Center for Economic Policy Studies at Winrock International Institute for Agricultural Development, 1611 North Kent Street, 22209 Arlington, VA |
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Abstract: | The third wave of democratization sweeping the developing world has occurred in tandem with market and export-oriented shifts
in economic policy. This article assesses the prospects for the success of this double transition in Thailand. Some have suggested
that the political prerequisites of the shift from import substitution industrialization to export-led industrialization are
quite narrow. In this view, newly democratic governments are likely to lack sufficient autonomy from distributional coalitions
to impose the losses on those organized groups to sustain a successful economic transition. Analysis of the Thai case suggests
that such a shift in economic strategy can be politically manageable while providing for the emergence of a democratically
based export-led coalition if inherited economic distortions are mild, political mobilization associated with the democratic
transition is low, liberalization, of the trade regime is statist, and if the countries’ export markets are strong. This suggests
that the political prerequisites of export-led industrialization may be wider than previously thought. |
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