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Widening development prescriptions: policy implications of an index of sustainable economic welfare (SEW) for Thailand

Clarke, Matthew 2004, Widening development prescriptions: policy implications of an index of sustainable economic welfare (SEW) for Thailand, International journal of environment and sustainable development, vol. 3, no. 3/4, pp. 262-275.

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Title Widening development prescriptions: policy implications of an index of sustainable economic welfare (SEW) for Thailand
Author(s) Clarke, Matthew
Journal name International journal of environment and sustainable development
Volume number 3
Issue number 3/4
Start page 262
End page 275
Publisher Inderscience Publishers
Place of publication United Kingdom
Publication date 2004
ISSN 1474-6778
1478-7466
Keyword(s) Thailand
ISEW
policy
welfare
sustainable development
sustainable economic welfare
Summary Over the past three decades, Thailand has recorded consistently high levels of economic growth, making it one of the most successful economies in the world during this period. However, economic growth has associated costs that can also reduce social welfare. This study will estimate an Index of Sustainable Economic Welfare (ISEW) for Thailand over a twenty-five year period, 1975–1999. This paper concludes that even low-middle income countries are beginning to approach the point at which economic growth produces both diminishing and, at times, negative welfare returns as the costs of achieving growth begin to outweigh the associated benefits. These results are important for policy makers and highlight the importance of widening policy prescriptions in order to increase social welfare. However, the policy guidelines that are suggested must be critically accepted before being adopted due to possible weaknesses of the ISEW approach.
Language eng
Field of Research 140202 Economic Development and Growth
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©Inderscience Enterprises Limited 2004-2006
Persistent URL http://hdl.handle.net/10536/DRO/DU:30004349

Document type: Journal Article
Collection: School of International and Political Studies
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