- Preface and Acknowledgements
- List of Figures
- List of Tables
- China: Authoritarian Capitalism
- Hong Kong: Hybrid Capitalism as Catalyst
- India: From Failed Developmental State Towards Hybrid Market Capitalism
- Indonesia: Oligarchic Capitalism
- Japan: Coordinated Capitalism Between Institutional Change and Structural Inertia
- Laos: Frontier Capitalism
- Malaysia: Personal Capitalism
- The Philippines: Inequality–Trapped Capitalism
- Singapore: Open State-Led Capitalism
- South Korea: Plutocratic State-Led Capitalism Reconfiguring
- Taiwan: Sme-Oriented Capitalism in Transition
- Thailand: Post-Developmentalist Capitalism
- Vietnam: Post-State Capitalism
- Business Groups in Asia: An Institutional Perspective
- Corporate Governance and Business Systems in Asia
- Culture and the Business Systems of Asia
- Employment Relations and Human Resource Management in Asia: Explaining Patterns in Asian Societies
- Financial Systems in Asia: Where Politics Meets Development
- MNEs in Asian Business Systems
- National R&D Systems and Technology Development in Asia
- The Co-evolution of Global Sourcing of Business Support Functions and the Economic Development of Asian Emerging Economies
- Social Capital in Asia: Its Dual Nature and Function
- The Role of the State in Asian Business Systems
- A Survey of Strategic Behaviour and Firm Performance in Asia
- Pictures of the Past: Historical Influences in Contemporary Asian Business Systems
- Beyond Production: Changing Dynamics of Asian Business Groups
- Change and Continuity in East Asian Business Systems
- Asian Business Systems: Implications and Perspectives for Comparative Business Systems and Varieties of Capitalism Research
- Asian Business Systems: Implications for Managerial Practice
Abstract and Keywords
This article provides an overview of the institutional structure of the business system of Thailand. It explores the role of the state, the financial system, ownership and corporate governance, the internal structure of the firm (management), employment relations, education and skills formation, inter-company relations (networks), innovation, and social capital. It focuses on the impact of institutional change after the 1997 Asian crisis, including the restructuring of family businesses, reform of financial institutions, and the development of capital markets. It reveals a lack of public trust in politicians, poor R&D investment, and low productivity, which suggests a need to eradicate corruption, promote innovation, and reform higher education if Thailand is to avoid the middle-income trap. This article contributes directly to the business systems and varieties of capitalism literature and identifies institutional contingencies for comparative and international social science research in general.
Akira Suehiro is Professor at the Institute of Social Science at the University of Tokyo, Japan.
Natenapha Wailerdsak Yabushita is Lecturer at Thammasat Business School, Bangkok, Thailand.
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