Thailand & The Middle-Income Trap: An Analysis from the Global Value Chain Perspective
Historically, Thailand transitioned from an agriculture-based economy to a manufacturing exporter, yet its growth has stagnated compared to more innovative economies. The study highlights various phases of Thailand's industrial development and assesses GVC participation trends from 1990 to 2019, particularly in strategic sectors like electronics and automotive.
To escape both the MIT and the middle-income technology trap (MITT), the study suggests that the Thai government should implement policies to enhance local capabilities and improve technology transfer. It emphasizes the need for contextual industry-level analysis to understand value-added dynamics better.