Thailand’s score on the Open Budget Index shows that the government provides the public with minimal information on the central government’s budget and financial activities during the course of the budget year. This makes it quite difficult for citizens to hold government accountable for its management of the public’s money.
This paper offers an analysis of the impact of neo-Keynesian policies in three Asian Tigers in the aftermath of the 1997 financial crisis. Using sophisticated statistical techniques applied to data on taxes, spending, and income the authors seek to evaluate the viability of expansionary fiscal policy to stimulate growth.
This paper reviews the policy responses of Indonesia, Korea, and Thailand to the 1997 Asian crisis and compares the actions of these three countries with those of Malaysia and the Philippines, which were buffeted by the crisis. Although work is still under way in all the affected countries, and thus any judgments are necessarily tentative, important lessons can be learned from the various experiences of the last two years.