Financial Development and Economic Growth in Thailand

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รณกร กิติพชรเดชาธร


The purpose of this paper is to explore the relationship and direct impact between financial developments index with economic growth in Thailand. We are specified Structural Equation Model: SEM in our analysis. The variables are defined as two groups such: economic dimension and financial development dimension. Quarterly data during the year 1999 to 2018 are in used, which sources from Bank of Thailand, Stock Exchange of Thailand, and International Monetary Fund. The empirical result show that the financial development related with economic growth in Thailand at significant level 0.01 in positive side. Moreover, the model show that trade balance of Thailand is highly impact in economic dimension and liquid liabilities is highly impact in financial development dimension as well.


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