Thailand's economy has traditionally been export-oriented economy and exists as a decentralized free enterprise. Thai governments have favored an open investment climate models, the emphasis on creating a favorable market for attracting large flows of foreign direct investment. In the 1980s and during 1990, an economy of Thailand fastest growing economies in the world, registering an average growth rate of 9 per cent of this was during the accident in July 1997 Asian economic collapse.
Thailand's economy was the worst of the crisis, and fell by a massive 75 percent. On 2 July 1997, enjoyed a value of 25 baht against the U.S. dollar. But suddenly, because of the crisis, the baht to the dollar fell to half its current value. Several major financial firms, including financial, that you could get this crisis and collapsed. With more foreign investors from their investments in foreign markets, unstable and corrupt politicsSituation in the country to this crisis. IMF approved a $ 20 billion package to rescue the Thai economy.
Until 1997, the Asian countries Thailand, South Korea, Malaysia, Indonesia and Singapore were again the south that markets are more favorable to foreign investment, due to high growth and heavy. Due to some political events in the West, began to withdraw their investments from investors in the market. The result was adomino effect is activated and the economic collapse. There are several factors that contributed to the accident. Rising interest rates for the U.S. market, fell by export growth and a policy of open and liberal market led to a loss of confidence in the markets of East Asia.
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