Increased Political Power in Thailand’s Financial Services Industry – A Recipe for a Possible Financial Meltdown

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The last of my papers (well, with my students) to be presented at the 4th ICGBE this weekend:

Increased Political Power in Thailand’s Financial Services Industry – A Recipe for a Possible Financial Meltdown

Abstract

This paper reports on research into political power within Thailand’s financial services industry. The goal of the research is to determine the extent to which political interference and manipulation within the industry prior to the 1997 financial crisis has been fully investigated to date. This is ongoing research and will eventually incorporate data from personal interviews and questionnaires. However, this current paper focuses on secondary data concerning the extent to which structural reforms have been adopted and implemented in the country. Research findings highlight the danger faced by Thailand’s financial services industry due to increased political power outside and within the industry. Reviews of available literatures show that the threat posed by political power to Thailand’s financial services industry has not been systematically addressed by any of the reform programmes that have been undertaken after the 1997 financial crisis. These results are discussed and some recommendations suggested.

Eric Bediako and John Walsh

Eric Bediako is a PhD candidate at the School of Management, Shinawatra University, Thailand

John Walsh D.Phil. is Assistant Professor at the School of Management, Shinawatra University, Thailand

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