Date of Award:

5-1967

Document Type:

Thesis

Degree Name:

Master of Science (MS)

Department:

Economics and Finance

Department name when degree awarded

Economics

Committee Chair(s)

Cornelius A. Hofman

Committee

Cornelius A. Hofman

Committee

Leonard J. Arrington

Committee

Vernon L. Isrealsen

Committee

JeDon A. Emehiser

Abstract

The expansion of international trade, according to the traditional trade theory, can be the escape passage from economic stagnation. Furthermore, it will result in specialization within a country and increasing efficiency of production and real income.

The concept and measurement of economic growth are explored. Also the importance of international trade for a small nation is studied. The author traced the structure and trends of world trade, which are contributed to economic growth in the past. Then studied the structure and pattern of international trade of Thailand.

The growth in Thailand's participation in world trade is significant, but the rate of growth in production and income are among the low level. In recent years, the government of Thailand introduced the economic development plan with a basic aim to stimulate economic growth and to raise the income per capita among its people.

The findings agree with Prebisch proposal that the growth in underdeveloped countries must be promoted by domestic industrialization. And the application of traditional trade theory into the underdeveloped countries and into the world of today is questionable.

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