Historical Development of Thailand's Monopolistic Economic Structure from 1826-2006

5 Pages Posted: 28 Sep 2017 Last revised: 24 Oct 2017

See all articles by Nisit Intamano

Nisit Intamano

Sripatum University

Theradej Manoleehagul

Sukhothai Thammathirat Open University

Date Written: January 1, 2013

Abstract

To thoroughly understand Thailand’s chronic problems of collusive business practices and abusive of dominant market powers by monopolies, it is essential to comprehensively examine the historical development of the country’s politico-economic environment. If Thailand does not learn from its previous mistakes, existing problems will recur and pose an intractable obstacle to implementing current antimonopoly law, the Trade Competition Act of 1999. This paper explains the unique transformation of Thailand’s economic monopolistic structure and related politic hurdles in three distinct stages. The first stage began with the signature of an international trade treaty between Siam and England in 1826 during a period of absolute monarchy. The next stage started with the early democracy prompted by the Siamese Revolution in the 1930s. The final stage involved the adoption of a more capitalistic market structure through the support of the United States in the 1960s, the influx of foreign investment during the1980s, and an economic boom and bust in the 1990s through present. Finally, the paper suggests recommendation and provides prophylactic solutions to eliminate current problems.

Keywords: Monopolies in Thailand, Thailand’s Antimonopoly Law, Thailand Economic Development, Thai Trade Competition Act Of 1999

Suggested Citation

Intamano, Nisit and Manoleehagul, Theradej, Historical Development of Thailand's Monopolistic Economic Structure from 1826-2006 (January 1, 2013). PSAKU International Journal of Interdisciplinary Research (PSAKUIJIR), Vol. 2, No. 1, 2013, Available at SSRN: https://ssrn.com/abstract=3041260

Nisit Intamano (Contact Author)

Sripatum University ( email )

61 Phaholyothin Road, Jatujak
Bangkok, 10900
Thailand

Theradej Manoleehagul

Sukhothai Thammathirat Open University ( email )

Thailand

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