Journal articles on the topic 'Balance of payments – Thailand ; Economic development – Thailand'

There is a general consensus that an efficient means of mobilising revenues is necessaIy for improved public infrastructure and for preventing disruptions in the economy [Wilfried (1991)]. Inappropriate and unsustainable expenditure and revenue policies, on the contrary, cause disappointing economic performance. Hence, the concern with mobilising adequate resources through improved taxation and better pricing of public services. A review of the existing taxation systems of several developing countries suggests that these are distortionary in nature and contribute to a number of economic problems including production inefficiency, capital flight and fiscal and balance of payments disequilibria [Asher (1990)]. They are generally complex (difficult to administer and comply with), inelastic (nonresponsive to growth and discretionary policy measures), inefficient (raise little revenues but introduce serious economic distortions), inequitable (treat businesses and individuals in similar circumstances differently) and, quite simply, unfair (tax administration and enforcement are selective and skewed in favour of those capable of defeating th~ system) [McLure and Zodarow (1991)]. Further, there is heavy reliance on taxes on international trade (approx. 80 percent for India and Thailand, 84 percent for Sri Lanka, 70 percent for the Philippines, 50 percent for Turkey). User charges and taxes on income, property and capital contribute only a small proportion of the overall revenues (pakistan 20 percent, Thailand 19 percent, India 17 percent, the Philippines 19 percent). Agricultural incomes are not taxed. personal and corporate income taxes are levied on narrow bases at high rates. These tax structures impose varying levels of taxation, depending on the form of income, type of assets, size and legal status of businesses, and the kind of Qusiness activity (i.e. are 'schedular' in nature). As a result, the average effective tax rate and the marginal effective tax rate substantially vary across assets and section-thereby distorting individual choices with respect to the form of income, the sector of investment activity, and the time profile of investment [Bulutoglu and Thirsk (1991)].

Tourism sector is one of the major driving forces to develop the Turkish economy which provides the positive contributions with new employment opportunities and the national income and payments. With aid of this developments in economy by tourism, it has also increased the interaction with alternative areas. Health Tourism is also one of the special areas in which provides to the country high added value and foreign currency exchange income. Since the revenue outcome by health tourism is reaching up to 100 billion dollars, the national policy of health tourism enable countries has been undertaken as a high interested point of investment needed area. The critical threshold of the country’s Gross Domestic Product (GDP) is 4 to 5 percent as a current account balance and this deficient outcome in Turkey mostly takes on 5 to 4 percent which is a considered as a critical threshold. Health Tourism is expected to play a key role in bringing the values to the positive levels and therefore the focus is becoming on this area by health sector. Developing countries such as India, Singapore, and Thailand meet their foreign trade deficits with the income where they have obtained from this specific sector and the level of growth in this sector is at certain rate every year. The health Tourism is very crucial and significant sector for such a country Turkey, who has current budget deficit, and it is real economic sense. With Covid-19 crisis, the plans related with health tourism is re-evaluated by the coordination between Turkish Ministry of Health, Ministry of Tourism and Ministry of Economy. Especially, with the infrastructure works carried for public and city hospitals has been capable of providing health tourism services within the organization which is called “USHAŞ (International Health Services)”. The health tourism sector offers significant opportunities for Turkey during Covid-19 pandemic effects on our current account deficit and the decline in economic recovery of our tourism industry and losses. With health tourism created opportunities is already in an increasing trend, to contribute to the country’s economy much faster by increasing target markets with public-private cooperation.

The objective of this paper is to establish and manage the study group of Thailand and conduct the research activities and create the possible scenario stories of Thailand under the global trend of carbon reduction. The goal of "Balance of Economic, Environment, Energy and Social development (3E&1S) for Low Carbon Societies (LCS)” has been set to be the key decision focus of this study. The tool to handle this future issue is the scenario planning method. This approach is widely applied for exploring the different possible future prospective. Outcome of scenario creation is derived by the brainstorming process from key stakeholders. With the obtained information, the possible scenarios will be determined and can be used as a guideline for policy planning and long-term preparation for economic, environmental, energy and social development of Thailand.

We propose a framework to create village economic and balance of payments accounts from a micro-level household survey. Using the Townsend Thai data, we create the accounts for villages in rural and semi-urban areas of Thailand. We then study these village economies as small open countries, exploring in particular the relationship between the real and financial variables. We examine cross-village risk-sharing and the Feldstein-Horioka puzzle. Our results suggest that within-village risk-sharing is better than across-village and, while there is smoothing in both, the mechanisms are different. We also find that, unlike countries, the cross-village capital markets are highly integrated.

The political development of Thailand in XXIth century is characterized by a deep split of the society into opponents and supporters of democratization. The latter are consolidated around the figure of Taksin Sinavatra, the former prime minister. He was overthrown by the military in 2006, but still enjoys the support of the popular majority he gained due to his economic policy aimed at improving the life conditions of the poor in periphery regions. The triumph of his parties in elections since 2001 caused the new power balance in politics traditionally viewed as a focal area of the political establishment – the representatives of the Bangkok upper and middle classes only. The marginalization of their position in the political system and the impossibility of coming to power through elections determined their integration into the anti-government movement, for the purpose of cancelling the representative democracy system that doesn’t meet the interests of the traditional political elite finding itself in a “minority” and unwilling to be under the reign of a “majority”. The deepening of the political crisis provoked the military into undertaking the coup d’état in May 2014 and establishing an authoritarian regime, which ensured the accrescency of power for the traditional elite. Nevertheless, as the author concludes, the future political development of Thailand seems unclear. The power of military in cooperation with their civilian followers is unlikely to reconcile the society, split by class differences and political aspirations. The contemporary political development of Thailand reflects the situation when the “populace” doesn’t want just to remain under control any longer, and the “upper strata” refuses to be under the rule of the electoral majority. The main question raised today is not of the Taksin's destiny, but of an alternative for the Thailand's future political development – restricted democracy directed by upper classes, or representative democracy.

Constructed wetlands (cws) for wastewater treatment may be part of the answer to the urgent need for a change in the approach to wastewater treatment in developing countries. Although thailand has several cws, there have been no studies of their sustainability. To remedy this, the sustainability of three promising cws in very different settings was assessed. These were located at koh phi phi, a world-renowned international tourist and holiday resort; sakon nakhon, a northeastern provincial capital; and ban pru teaw, a small post-tsunami village on the andaman coast. Key stakeholder interviews, questionnaires and household interview surveys, together with existing data and on-site measurements of the key pollutant content of wastewater were used to evaluate the systems. Results show that major management and treatment problems have emerged in the projects at koh phi phi and ban pru teaw due to the lack of post-construction personnel development and maintenance; but on the other hand, sakon nakhon is the first cw in thailand to obtain iso 9001 certification. The results reveal the importance of the socio-cultural dimension of sustainability; public perception, awareness and knowledge, local expertise and clear roles for institutions could explain the differences in sustainability of the cws. The environmental benefits and the low operation and maintenance costs are also important for sustainability, by justifying the system and avoiding user payments.

In a pioneering article, titled ‘Colonialism and Human Rights, A Contradiction in Terms?’ the American historian Conklin established in 1998 that France not only violated human rights in West Africa about 1900, but also promoted them for a small African elite, both in intended and unintended ways. For colonial Indonesia about 1900 the British historian Ricklefs observed in more general terms a similiar human rights balance. In this article this rough human rights balance is elaborated in more detail and for a longer period in comparative perspective. The case of the Netherlands Indies is compared to British India, French Indochina and independent Thailand during the 19th and 20th centuries. Both the human rights violations during colonial conquest and the limited promotion of political and civil rights and education could be specified in rather exact terms. But for social and economic rights GNP figures had to be chosen as main indicator. In general, British India took the lead in the promotion of political and civil rights and education, and independent Thailand in economic development, while the Netherlands Indies occupied a middle position and French Indochina lagged behind in both respects. In comparative perspective, education proved to be a crucial human right, opening the way to eventual selfdetermination.

On the threshold of elections designed to be held in February 2019, the first after the military junta seized power in 2014, it is important to define the role of parties in the political process of Thailand, which as other developing countries of Asia, faces challenges in democratic state building. The contemporary political history of kingdom represents the confrontation of two tendencies – authoritarianism and democracy what has a reverse impact on political parties, their character, structure and ability to represent interests of the society as a whole. The author analyses the process of party evolution in the historical retrospective in the context of transformation of political system – from bureaucratic to semidemocratic subjected to economic modernization and changes in socio structure of society where traditional form of organization patron-client is persisted. The author defines three stages of evolution of party system in Thailand The first is characterized by the full control of civil-military bureaucracy over parties. The second stage is closely related to the formation of provincial political clientele groups. The third stage marks the evolvement of party of “power” with the implication for strengthening the parliamentary democracy in the beginning of XXI century. And as the result of it – to the destabilization of political system, based on the relative balance of power between two main political forces – bureaucracy and army interested in reservation of authoritarian government, and bourgeoisie supporting the liberalization of political institutes. With the emergence of party of “power” supported by the majority of population advocating parliamentary democracy political spectrum has changed. The arising conflict of interests subjected to collision of positions regarding the model of political governance was overcome by military coup. Analyzing the political spectrum on the threshold of elections the author comes to conclusion that the restoration of compromised model of political governance sample of 80-90 years of XX century is the most likely option of political development of Thailand in the near future. Though it differs in one aspect – the social structure has changed, there is the rise of that groups of population that intend to participate in the political process, what will force the power to be more transparent and social oriented. These challenges face the political parties as well.

Terusan Kra merupakan kanal yang telah direncanakan pembangunannya oleh Thailand sejak abad ke-17. Dengan dibangunnya terusan Kra yang dimungkinkan berhasil memberi efisiensi terhadap penyingkatan waktu pelayaran di daerah Asia Pasifik tentu akan memberi dampak kerugian yang signifikan pada terusan Malaka yang telah terlebih dahulu dibuat. Dampak pembangunan tersebut akan mempengaruhi perubahan jalur pelayaran serta merubah peta perekonomian Asia Tenggara secara makro. Tujuan dari tulisan ini ada untuk mengetahui dampak dan perubahan signifikan terhadap pembangunan terusan Kra di masa depan. Metode yang digunakan merupakan pendekatan yuridis normatif yang menggunakan data sekunder melalui penelitian kepustakaan dan studi dokumen. Adanya terusan Kra akan merubah neraca ekspor dan impor secara signifikan serta akan memberikan perubahan besar ke beberapa negara-negara di Asia Pasifik. Hingga saat ini mulai banyak negara-negara di Asia Tenggara yang mulai merencanakan dan membangun kawasan pantainya agar dapat bersaing saat nantinya Terusan Kra dibuka. The Kra Canal is a canal that Thailand has planned to build since the 17th century. With the construction of the Kra canal, which is possible to provide efficiency in reducing shipping time in the Asia Pacific region, it will certainly have a significant impact on the Malacca canal that was previously built. This development impact will affect changes in shipping lanes and change the economic map of Southeast Asia at a macro level. The purpose of this paper is to determine the impact and significant changes to the development of the Kra canal in the future. The method used is a normative juridical approach that uses secondary data through library research and document study. The existence of the Kra canal will change the export and import balance significantly and will provide big changes for several countries in Asia Pacific. Until now, many countries in Southeast Asia have started planning and building their coastal areas so that they can compete when the Kra Canal opens.

Background. Rural-urban inequality in long-term care (LTC) services has been increasing alongside rapid socioeconomic development. This study estimates the average spending on LTC services and identifies the factors that influence the use and cost of LTC for the elderly living in urban and rural areas of Thailand. Methods. The sample comprised 837 elderly aged 60 years drawn from rural and urban areas in Phichit Province. Costs were assessed over a 1-month period. Direct costs of caregiving and indirect costs (opportunity cost method) were analyzed. Binary logistic regression was performed to determine which factors affected LTC costs. Results. The total annual LTC spending for rural and urban residents was on average USD 7,285 and USD 7,280.6, respectively. Formal care and informal care comprise the largest share of payments. There was a significant association between rural residents and costs for informal care, day/night care, and home renovation. Conclusions. Even though total LTC expenditures do not seem to vary significantly across rural and urban areas, the fundamental differences between areas need to be recognized. Reorganizing country delivery systems and finding a balance between formal and informal care are alternative solutions.

In 1957, the four lower Mekong River states jointly organized the development of the basin and established a legal regime that has spanned five decades of cooperation. In 1995, Cambodia, Lao PDR, Thailand and Vietnam concluded the Agreement on the Cooperation for the Sustainable Development of the Mekong River Basin and formed the Mekong River Commission, which has been lauded as the most progressive of river institutions and a model for the world. At the core of the 1995 Mekong Agreement is the concept of sustainable development. Guided by this sustainable development paradigm, the Lower Mekong River Basin states attempt to balance the maintenance of water quantity with protection of water quality, and agree to cooperate and use the Mekong's water resources in a manner in which the river system's environmental conditions and ecological balance are conserved and maintained. However, development of the Mekong and its tributaries has rendered the efficacy of the Mekong legal regime to support holistic water resources management questionable. More than ten years of experience has shown that there are aspects of the 1995 Mekong Agreement that should be strengthened in order to secure the environmental, economic and social benefits that it promises.

Export is one of the economic parameters of a country which can increase the country’s economy which must be maintained and increased in value. In the last ten years from 2010 to 2019, Indonesia’s export performance fluctuated and decreased, resulting in a trade balance deficit in 2012-2014 and 2018-2019. Based on the problem, Indonesia needs to make strategic efforts. One of the efforts that can be done is to develop agricultural exports. One of the products that has the potential to be developed is sago flour. This research analyzed the competitiveness and export potential of Indonesian sago flour. This study used secondary data which is panel data consisting of time series and cross section data. The methods used were the RCA, EPD, and X- Model. The results of the analysis using RCA and EPD concluded that Indonesian sago flour has strong competitiveness in the export market. Then the results of the X-model analysis show that sago flour exports have the potential for optimistic market development in the Philippine, Thailand and Chinese markets and the potential export markets are Japan, Malaysia, Hong kong, and Sri Lanka

In recent decades, the commodification of the English language has aroused intensive research interest in the sociolinguistics on a global scale, but studies on the commodification of the Chinese language are relatively rare. Most studies take a critical approach in relation to its adverse impacts on minority rights and social justice. This study examined the language landscape in Chiangmai, Thailand, and the linguistic beliefs of local Thai Chinese language learners. Based on their feedback, this study investigated the commodification of Chinese language education in the community of Chinese language learners in Chiangmai. We found that from a less critical perspective, the commodification of a second language provides more accessible and affordable educational opportunities for learners, especially those from low-income families, and at the same time language proficiency can broaden learners’ career choices and provide employees with additional value in industries, such as tourism, commerce, and services. This finding implies that language commodification, rather than typically being associated with linguistic imperialism and unbalanced socio-economic status, can be a contributing factor in promoting higher-education availability and social sustainability in certain circumstances. There may be some mediating factors between the commodification of language and changes in the sustainable balance of language, opening up space for future research to explore.

Background: Evidence to guide cancer policy-making is scarce in low- and middle-income countries (LMIC). Furthermore, most economic studies in cancer have been conducted from the provider's or payer's perspective. Aim: The ASEAN Costs in Oncology Study (ACTION) was conducted to provide the essential intelligence for national policymakers and official development assistance donors to construct economically sound national cancer control plans. Methods: In the ACTION study, 9513 newly diagnosed cancer patients from eight LMIC in southeast Asia were prospectively followed-up for adverse economic outcomes up to one year after diagnosis, through serial interviews and use of cost diaries. Results: Country-specific analysis of the ACTION Study data had revealed that just within a year of diagnosis, 1 in 2 Malaysian cancer survivors had reported spending more than 30% of their annual household income for cancer related expenditures (FC: financial catastrophe). Strikingly, Malaysia, albeit being a higher income nation, appeared to have fared worse than Thailand, where only 1 in 3 cancer survivors reported FC. Nonetheless, in contrast to finding of the regional study that medical payments (drugs, hospitalization, consultation), largely explained the incidence of FC following cancer, only half of the reported catastrophic expenditures in Malaysia were attributed to medical expenditures suggesting that nonmedical payments related to cancer (e.g., travel, accommodation, childcare) was an important contributor to adverse financial outcomes. Furthermore, marked institutional variations in levels of catastrophic expenditures were observed in Malaysia, even within the public healthcare system. Proportion of patients experiencing FC in the general government hospitals was only 33% compared with 65% in the public academic hospitals. Although late stage at cancer diagnosis largely explained the increased risk of adverse economic outcomes and death, patients from low-income households remained vulnerable even when diagnosed with earlier stages. Conclusion: The findings of the ACTION Study importantly highlight the need for LMIC to undertake their own studies examining the financial impact of cancer in the population, to take affirmative actions to reduce financial loss and premature deaths associated with cancer. From the Malaysian perspective, there appears to be an urgent need to improve social support for cancer in the country, be it through government-led programs such as disability insurance and short term credit or multisectoral collaboration with civil societies, private industries, and philanthropic organizations. Key policy changes should also include prioritization of programs which would allow early detection of cancer, re-examination of the national health financing system to ensure that public funds are channeled to those who need them the most, and addressing disparities in funding between public hospitals.

Purpose The purpose of this paper is to analyze the long-run as well as short-run effect of economic growth, trade openness, urbanization and technology on environmental degradation (sulfur dioxide (SO2) emissions) in Asian emerging economies. Design/methodology/approach The study utilizes the augmented STIRPAT model and uses the panel cointegration and causality test to analyze the long-run and short-run relationships. Due to the unavailability of data for all Asian emerging economies, the study focuses on 11 countries, i.e. Bangladesh, Hong Kong, India, Indonesia, Iran, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka and Thailand, and uses balance panel from 1980 to 2014 at annual frequency. Findings Results showed that the inverted U-shape hypothesis of the environmental Kuznets curve holds between economic growth and SO2 emissions. While technology and trade openness increases SO2 emissions, urbanization reduces SO2 emissions in Asian emerging economies in the long run. Unidirectional causality flows from urbanization to SO2 emissions and from SO2 emissions to economic growth in the short run. Practical implications Research and development centers and programs are required at the government and private levels to control pollution through new technologies as well as to encourage the use of disposed-off waste as a source of energy which results in lower dependency on fossil fuels and leads to reduce emissions. Originality/value This study contributes to the existing literature by analyzing the effects of urbanization, economic growth, technology and trade openness on environmental pollution (measured by SO2 emissions) in Asian emerging economies. This study provides the essential evidence, information and better understanding to key stakeholders of environment. The findings of this study are useful for individuals, corporate bodies, environmentalist, researchers and government agencies at large.

The “Lower Mekong Basin” in this paper refers to the part of the Mekong River Basin which is shared by Cambodia, Laos, Thailand and Viet Nam, all members of the Mekong River Commission, consisting of approx. 2,400 km of mainstream river, numerous tributaries and huge flood plains. Few river basins produce as much fish as the Mekong River Basin, and the fishery in the Lower Mekong Basin is among the biggest and most productive inland fisheries in the world. The flood plains of the Lower Mekong produce some four times as much fish per square kilometre as the North Sea, which is among the most productive marine areas in the world. It is quite clear that the fisheries in the Mekong Basin are very important for the population in respect to their food security and income. Its importance in nutrition is highest in the rural areas, where there are few other low cost sources of protein, and even in highland areas fish is of crucial importance in the diet. Most fish species in the Mekong Basin are migratory, and the economically most important ones are certainly so. However, with economic development gaining speed, the impact on migratory patterns and the competition for the water resources are becoming stronger. The water resources offer a large number of opportunities, and a lot of economic activities need access to the water resources for their development. However, what is seen in one sector as an opportunity may be considered as a threat in another, and a careful balance is necessary in order not to lose opportunities in important sectors. The fate of a large number of river basins in the world is frightening. Most have been left biologically near dead, with some of the big rivers reduced for a time, or forever, to be used as waste water canals for the new industries, and others almost dried out from excessive water extraction before they reach the sea.

Introduction. Tourism is a dynamic, constantly developing sector of the economy. Tourism economy develops along with the society, recreation and tourism. The purpose of the article is to show the features of the impact of tourism on the national economy using the case of Tunisia. The experience of Tunisia is especially useful for the countries where beach recreation has developed and where the political situation has remained difficult for a long time (Egypt, Turkey, Thailand, etc.). Materials and Methods. The article is based on the statistical data provided by the World Tourism Organization, the World Data Atlas and open Internet sources. The study employed general scientific methods (analysis, synthesis, synthesis, comparison, etc.) and special ones (the methods of mathematical statistics, the graphical method, the comparative method, etc.). Results. For the first time, the article has provided a fairly complete description of the macroeconomic indicators characterizing the level of development of international tourism in Tunisia. The article has analyzed the dynamics of inbound and outbound tourism, discussed the factors affecting the volume of international tourism, considered international tourism expenditures and revenues, which to a large extent have a positive or negative impact on the country’s balance of payments. The trends in the development of international tourism in Tunisia have been revealed and the problems facing the industry have been identified. Discussion and Conclusion. The research has revealed that tourism economy largely depends on the political and economic processes taking place in the country. The current level of macroeconomic indicators of tourism economy in Tunisia lags behind the 2008–2009 figures. The results of the study made it possible to assess the current state of international tourism and make a number of suggestions aimed at increasing the level of development of international tourism in the country. The results of the study can contribute to the development of a program aimed to boost tourism economy in Tunisia, one of the key tasks of which should be that of increasing performance at the macro-level.

Thailand’smining industry has always been considered as an industrial activity generating significant environmental burdens. This is because environmental management in the sectorwas given lower prioritycompared with economic benefits. The resulting adverse environmental effects in areas surrounding some mining areas required government interventions.Accordingly, the sustainable development of mineral resources requires a delicate balance of economic, environmental and societal considerations. To respond to this challenge, Thailand needs a paradigm shift in environmental management towards sustainablemining, in order to maximize benefits from exploitation of the mineral resources,whilst ensuring co-existence and mutual benefits of mining activities and their surrounding communities.This article seeks to provide some information about a fundamental change in theprinciples, approach and strategies of environmental management towards sustainable mining inThailand. The main mechanism includes changing in visions and strategies towards sustainable mining, applying various sustainability assessment tools in licensing and decision-making processes, decentralizing the environmental monitoring system to local authorities and communities, as well as enhancing the use of the sustainable development principle to all mining operators through various projects. An establishment of a rehabilitation fund, ahealth surveillance fund and a community infrastructure improvement fund are also required for development of any new mining project to guarantee rehabilitation works and risk management efforts during and after the mine’s life.

Mahidol University is one of the most environmentally friendly university in Thailand. The eco-university policy for sustainable development on campus and in the surrounding community has been implemented in order to balance of economic, social and environmental dimensions which will lead to efficient use of resources, social equality and improved quality of life of staff, students and the surrounding community. Water management of MU, Salaya campus is one of the successful case studies. Approximately 60% of the 1,867,792 square meters of campus was allocated for the green and water reservation areas including horizontal garden, vertical garden, botanic garden, original wetland, ditch and pond. The RINGLOOP project was installed in order to improve the performance of water distribution. The central wastewater treatment plant with activated sludge system has been constructed. The water conservation program with 100% of treated wastewater recyclable is implemented

The rapid increase in economic development and urbanisation along the Eastern Economic Corridor (EEC) of Thailand has accelerated the change in its ecosystem service value (ESV), leading to the demand for related analysis to ensure sustainable growth in the area. The aim of this study is to: (1) evaluate the land use change in Chonburi Province; the most urbanised city in the EEC of Thailand between 2006 and 2016, and (2) assess the land use change impact on ESV. Secondary data from land use maps for 2006 and 2016 was used to evaluate land use change and its impact on ESV using the land use transition matrix, land use dynamic degree, and the benefit transfer method. Urban and built-up land use were found to dominate other use types. The top three highest annual rates of land use change were found in water bodies, rangeland, and urban and built-up land. The ESV in 2016 was found to be 1.31% higher than for 2006. The ecosystem service functions (ESFs) contributing to the increase in ESV were waste treatment, hydrological regulation, climate regulation and recreation and service culture. Future land use planning should focus on increasing wetlands and protecting agricultural land in the study area since these contribute to the highest ESV. In addition, it is essential to balance economic development with ecological enhancement.

A technical assistance (TA) mission on external sector statistics (ESS) was conducted for the Directorate of Investment and Company Administration of Myanmar (DICA) in Yangon during April 10–12, 2019. This was the sixth mission under the Project on the Improvement of ESS in the Asia–Pacific region. The Project is funded by the Government of Japan; managed by the IMF Statistics Department (STA); and implemented by the IMF Capacity Development Office in Thailand (CDOT). Intensive hands-on training provided to the DICA through peripatetic TA missions have effectively contributed to building up capacity for DICA compilers, which have gradually materialized and translated into successful FDI surveys (FDIS) conducted last year. Data coverage has significantly improved through inclusion of foreign direct investment (FDI) in oil and gas sector, which is one of the largest FDI recipients for Myanmar. Moreover, the DICA also compiles quarterly FDI flows and positions; and submits to the Central Bank of Myanmar (CBM) on a regular basis to support the CBM’s compilation of the balance of payments and international investment position (IIP). The DICA also participates in the Coordinated Direct Investment Survey (CDIS), with regular submission of data to the STA.

Since Jan 4th 2016, the State Bank of Vietnam (SBV) has applied the central exchange rate regime pegging VND to a basket of 8 currencies, which reflects the adaptation of macro policies in general, exchange rate policy in particular when integration context has changed. In order to propose suitable solutions to administrate exchange rate policy effectively, this article employs the VAR model, in which the relationship between exchange rate and three objectives of exchange rate policy (including prices, output and trade balance) are tested. The data used in this model is quarterly, in the period 2001q1-2017q3. Based on the results of the VAR model, a number of policy implications has been proposed, including: (i) continuing to apply currency basket pegged exchange rate regime; (ii) in stead of choosing to devaluate VND, the SBV should use other exchange rate management tools; (iii) speeding up the development of derivative exchange rate market is necessary to reduce the level of ERPT to the import price index so that helps to control inflation in Vietnam and (iv) the SBV should prioritize the exchange rate policy administration towards price stability through adopting the inflation-targeting monetary policy. Keywords Exchange rate policy, exchange rate, inflation, economic growth, trade balance References [1] Campa, J. M. and Goldberg, L. S., “Exchange rate pass-through into import prices”, The Review of Economics and Statistics, 87(4) (2005), pp. 679-690. [2] Ghosh, A. and Rajan, R. S., “Exchange rate pass-through in Korea and Thailand: Trends and determinants”, Japan and the World Economy, No. 21 (2009), pp. 55–70.[3] McCarthy, J., “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies”, Eastern Economic Journal, No. 33(4) (2000), pp. 511-537.[4] Hahn, E., Pass-Through of External Shocks to Euro Area Inflation, European Central Bank, Working Paper No.243, 2003.[5] Ito, T. and Sato, K., “Exchange rate changes and inflation in post-crisis Asian economies: VAR analysis of the exchange rate pass-through”, Journal of Money, Credit and Banking, No 40 (2008), pp. 1407-1438.[6] Kim, K. H., “US Inflation and the Dollar Exchange Rate: A Vector Error Correction Model”, Applied Economics, 30(5), 1998, pp.613-619.[7] Beirne, J. and Bijsterbosch, M., Exchange rate pass-through in central and eastern European member states, European Central Bank, Working Paper Series, No.1120, 2009.[8] Huong, T.T.X., V.X.Vinh and N.P. Canh, “Transmission of monetary policy: A number of appropriate regression models”, Journal of Development and Integration, No. 16 (26), 2014, tr.41-46.[9] Vinh, N.T.T, “The role of different channels on trasmitting monetary policy into output and price in Vietnam”, Journal of Economics and Development, No. 214 (2015), tr.20-30.[10] Giang, L.T., Applied structural vector autoregression model to analyze monetary transmission mechanism in Vietnam, Dotoral Thesis, National Economics University, 2017.[11] Trinh, P.T.T., “Impact of foreign exchange reserves to inflation: Approaching by VAR model”, Economic Development Review, No. 26 (2015), tr.46-68.[12] Minh, V.V., Exchange rate pass-through and its implications for inflation in Vietnam, Vietnam development forum, Working paper 0902, 2009.[13] Anh, N.D.M, T.M. Anh and V.T. Thanh, “Exchange rate pass-through into inflation in Vietnam: An assessment using Vector Autogression approach”, Vietnam Economic Management Review, 2010.[14] Anh, P.T., “Applying SVAR model to analyzing exchange rate pass-through effects (ERPT) in Vietnam”, Journal of Economics and Development, No. 220 (2015), tr.48-58. [15] Anh, P.V., Choosing the exchange rate regime in order to implement the inflation targeting policy in Vietnam, Doctoral Thesis, Foreign Trade University, 2017.[16] Minh, H.D., The relationship between inflation and exchange rate in Vietnamese economy, Doctoral Thesis, Hanoi University of Science and Technology, 2014. [17] Hausmann, R., Pritchett, L. and Rodrik, D., Growth accelerations, NBER Working paper series 10566, 2004.[18] Rodrik D., “The Real Exchange Rate and Economic Growth”, Brookings Papers on Economic Activity, Vol. 2008, pp. 365-412. [19] Gluzmann, P. A., Levy – Yeyati, E. and Sturzenegger, F., “Exchange rate undervaluation and economic growth: Díaz Alejandro (1965) revisited”, Economics Letters, No 117 (2012), pp. 666–672.[20] Kappler, M., Reisen, H., Schularick, M. and Turkisch, E., “The Macroeconomic Effects of Large Exchange Rate Appreciations”, Open Econ Rev, No.24 (2012), pp.471–494.[21] Habib, M. M, Mileva, E. and Stracca, L., “The real exchange rate and economic growth: Revisiting the case using external instruments”, Journal of International Money and Finance, Accepted Manuscript, 2017. [22] Rose, A. K., “Exchange rates and the trade balance: Some evidence from developing countries”, Economics Letters, No. 34 (1990), pp.271-275, North-Holland.[23] Vural, B. M. T., “Effect of Real Exchange Rate on Trade Balance: Commodity Level Evidence from Turkish Bilateral Trade Data”, Procedia Economics and Finance, No.38(2016), pp.499 – 507.[24] Trang, L.M, Exchange rate policy to promote export of Vietnam, Doctoral Thesis, Thuong mai University, 2017. [25] Bahmani – Oskooee, M., “Is there a long-run relation between the trade balance and the real effective exchange rate of LDCs?”, Economics Letters, No. 36 (1991), pp.403-407, North-Holland.[26] Anh, D.T.H., Impact of the real exchange rate on trade balace in the context of international economic integration, Doctoral Thesis, Banking Academy, 2012. [27] Arize, A. C., Malindretos, J. and Igwe, E. U., “A Convenient Method for the Estimation of ARDL Parameters and Test statistics: U.S.A Trade Balance and Real Effective Exchange Rate Relation”, International Review of Economics and Finance, 2017, http://dx.doi.org/10.1016/j.iref.2017.03.024.[28] Wang, C. H., Lin, C. H. and Yang. C. H. et al, “Short-run and long-run effects of exchange rate change on trade balance: Evidence from China and its trading partners”, Japan and the World Economy, No. 24 (2012), 266-273.[29] Koray, F. and McMillin, W. D., “Monetary shocks, the exchange rate, and the trade balance”, Journal of International Money and Finance, No.18 (1999), pp.925–940[30] Hang, N.T.T., D.T.Minh, T.T.Thanh, L.H.Giang and P.V.Ha, Exchange rate policy choice in the context of economic recovery, VEPR, Working Paper No, 2010.[31] Nhung, N.C. and T.T.T. Huyen, “Exchange rate pass-through into Vietnamese import prices by industries and by countries”, International Business Management, 11 (11), 2017, pp.1834-1843.