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The objectives of this research were to (1) investigate variables of local wisdom, value-added products, strength of community enterprises, and international trade promotion policy, (2) test the consistency and model fitness of measurements of all variables with empirical data, (3) examine direct effects, indirect effects, and total effects of all variables, (4) study the integration of local wisdom and valued added products, and (5) bring integration results to develop Thailand 4.0 economic development model.
This research used mixed methodology comprising qualitative and quantitative methods. Research process had 3 phases. Phase 1 was the quantitative method to study objectives 1-3. The sample size was 521 members of community enterprises in the prototype community, Nong Khai province, selected using the multi-stage random sampling technique. Statistics used to analyze the data were descriptive statistics and structural equation modeling.
Phase 2 was the qualitative method using in-depth interviews with 15 key informants consisting of five representatives from the prototype community in Nong Khai province, three representatives from government agencies, four representatives from business sectors and three representatives from academic sectors. Phase 3 was the qualitative method using a focusing group with 15 faculty members of business administration, Ramkhamkaeng University. The key informants of qualitative method were selected using purposive sampling, and the acquired data were analyzed using the inductive methods.
The result revealed as following. Firstly, the model of value added approach of local wisdom products for sustainability consisted of local wisdom (potentiality, learning, and conservation), value added products (product differentiation, image creation, and package design), strength of community enterprises (self-reliance, community capital development, networking, and community business creation), and international trade promotion policy (subsidy from government and product standard). Secondly, the modified structural model of value-added approach of local wisdom products for sustainability was fit to the empirical data. (c2= 50.46, d.f.= 36, p= 0.05545, CFI=1.00, GFI=0.98, AGFI=0.97, SRMR =0.019, RMSEA=0.028). Thirdly, value added products and strength of community enterprises had a direct influence on international trade promotion policy. Fourthly, the integration of local wisdom and modern science had resulted in increasing values of many types of community products. Lastly, Thailand 4.0 economic development was a way of local economy, which started with the creation of knowledge for stability and was enhanced to generate income for sustainable life development.
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