King, Democracy, and Economic Growth in Thailand

The verdict of today’s Wall Street Journal (subscription required) on the recent developments in Thailand – is that much will depend on the kings’ ability to support democracy if the country is to enjoy economic growth in the coming years. Early moves by the country’s new leadership thus far suggest that governance structures are being re-developed to institute more of a top-down approach in both political and economic spheres.

What role does the king play in advancing the country’s democracy? He does not have a set of constitutional rules at his disposal that would allow him to direct the country’s institutions, yet, as WSJ notes, his views and opinions can influence the country’s development course a great deal.

Ousted Thaksin has appeared in several news stories today, calling for democracy to be restored in the country and speaking against constitutional changes in the works in Thailand. Yet, Thaksin’s own policies in economic and political spheres have been deemed undemocratic and harmful to country’s growth, and they ultimately lead to protests and a coup. More on lessons learned from Thaksin’s government here.

Thailand is at the crossroads. While the leaders continue to blame each other for undemocratic policies, the regular people are left on the sidelines, waiting for what’s to come and figuring out how to deal with bombings and uncertain economic conditions. There is an interesting op-ed (with some quotes from the people) about uniting the nation here.

Published Date: January 23, 2007