Trade concentration and crisis spillover : case study of transmission of the subprime crisis to Thailand
Date
2012-03
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Publisher
ARTNeT, United Nations ESCAP
Abstract
Trade linkages are presumed to have been the most important channel for the transmission of the subprime crisis to East Asian countries, including Thailand. This report considers trade concentration, and how the presence of the indirect trade effect played a vital role in spillover shocks to Thailand. By constructing an algorithm that calculates total trade linkages, the authors find that Thailand still has high exposure to G3 markets. Simulation using the CGE model has also confirmed that the country was seriously affected through indirect channels.
Description
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Synthesis Report
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Keywords
THAILAND, ASIA AND THE PACIFIC, FINANCIAL CRISIS, SUPPLY CHAIN, ECONOMETRIC ANALYSIS, INTERNATIONAL TRADE, INTERNATIONAL PRODUCTION NETWORK, EXPORT DIVERSIFICATION, PRODUCTION ECONOMICS, PRODUCTION DIVERSIFICATION, EXPORT ORIENTED INDUSTRIES, FAR EAST ASIA, COMPETITIVENESS, TRADE STRUCTURE