Final Research Paper

Financial Crisis in ThailandNameCourseTutor’s NameDateFinal Research PaperGross Domestic Product (GDP) is a measure of national income and output in the economy of a country. GDP is equal to the total expenditure in all final gods and products for a specified period. Growth in Annual GDP is an indicator of economic growth and the converse is true. A review of the GDP growth rate for the period 1989 to 1999 shows a consistent trend of decline in GDP between 1989 and 1995 with a slight rebound in 1993. Between 1996 and 1998, the economy showed a steep decline with negative growth experienced in 1997 and 1998. The GDP dropped from THB3.115 trillion to THB2.749 trillion between 1996 and 1998. This was accompanied by an abrupt increase in foreign debt from a sharp decrease in the exchange rate of the local currency. In 1999, the declining trend in GDP growth was reversed and a significant growth in GDP was recorded CITATION Wor19 \l 7177 (World Bank). The GDP multiplier for the years 1990 to 1999 is shown in the table below CITATION Pau01