Description

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This book explores the impact of globalization, especially in the context of trade and investment policies, on the key economic outcomes, including innovation, productivity, employment, and wages, using Thai manufacturing as a case study. The book looks at the impacts of the shift of manufacturing share from industrialized to emerging countries and emergence of 'global value chains' (GVCs) as well as liberalization through the proliferation of free-trade agreements (FTAs) on key economic outcomes.

The book highlights that globalization, through trade (including the parts and components trade) and investment, continues in Thailand amid the anti-globalization sentiment since the onset of the new millennium, especially the US-China trade war and the COVID-19 pandemic. Thailand has gained considerable benefit from trade and investment liberalization in various forms, including innovation, firm productivity improvements, and workers' skills enhancement. Although the country has prospered in these areas, several further enhancements are needed in order to effectively harness the benefits available from globalization, including continued trade and investment policy reforms. Key policy inferences are provided in the last chapter.

The book will appeal to those with an interest in international economics, especially issues relating to the economic consequences of globalization. It will also appeal to policymakers and practitioners responsible for international trade and investment regulations.

About the Author

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Juthathip Jongwanich is an associate professor at the Faculty of Economics, Thammasat University in Thailand. She holds a PhD (High Distinction) in Economics from the Australian National University. Her research interests lie in the area of international economics, international macroeconomics, capital mobility, multinational enterprises, and international production networks. Her research output has been published in leading peered review journals such as World Development, Food Policy, World Economy, Oxford Development Studies, Review of Policy Research, Applied Economics, Journal of Asian Economics, Journal of the Asia Pacific Economy, Developing Economies, Asian-Pacific Economic Literature, and Asian Economic Paper. She also works as a consultant to the World Bank, the Asian Development Bank, and the Economic Research Institute for ASEAN and East Asia.