This study employs a two-stage double-bootstrap Data Envelopment Analysis (DEA) to evaluate efficiency of Thai public Higher Education Institutions (HEIs) and investigate the relationship between public funding and HEIs’ efficiency. The results from the first-stage analysis disclose a rather high level of average teaching efficiency score, but low level of average research efficiency score. From the analysis of scale efficiency, the findings reveal that teaching inefficiency of Thai public HEIs is mainly caused by inappropriate production scale...

Foreign Direct Investment (FDI) inflows to the host country can drive economic growth especially in developing countries. It is then the strategic planning of such a host country to create a roadmap appealing to these foreign interests. Several policies are then looked at, whereby host countries would implement them in order to attract and leverage these FDI inflows into their economies. On the other hand, when we consider how companies look at their expenditures in terms of overall cost minimization, foreign investors are looking to regions wi...

Thai farmers' poverty stems from several factors such as falling crop prices, high input costs for crop production, shortage of cash for investment, erratic rainfall distribution and all types of land use problems such as landlessness, land rights, land infrastructure and land fragmentation. Although the government has implemented several legislative actions and programs to address these problems, Thai farmers remain largely poor and severe poverty is visible in the form of agricultural land abandonment. Therefore, studying the causes of ...

This study investigates the relationship between equity market risks and returns in various aspects. First, the implied volatility transmissions between international stock markets--the United States, European countries, Japan, and Thailand--are examined. The results from the VAR analysis with its application, including the causality tests, show that there exists a bi-directional causality between the returns of the SET50 index and its implied volatility such that both the leverage effect (return-driven) hypothesis and the volatility feedback ...

This dissertation aims to comprehensively investigates key macroeconomic factors and bond yield interaction in Thai bond market, and analyzes the impacts of both domestic and international economic factors on the fixed income yields in different maturities of 1-, 3-, 5-, 7-, and 10-year movements, as well as forecasts the future bond yields of different maturities with macroeconomy, including comparing the best predictive yields with each model. Through estimating VAR, Bayesian VAR, and Single Equation (SE) approaches as well as Random Walk (RW...

Many studies have found that social security system such as pension system depresses household savings. The Universal Health Coverage (UHC) scheme is a type of social security system in Thailand, but it is questionable whether or not it is contributes to household debt. The two purposes of this paper are to theoretically analyze the pros and cons of implementing the UHC or Co-Payment Scheme (CPS) in a small open economy with the focus on Thailand by using a two-period Overlapping Generations Model (OLG), and to analyze the causal relationship b...

The aim of the dissertation is to examine the market efficiency of gasohol consumption in Thailand impacted by government pricing policies (a tax and subsidy regime managed via the Oil Fund) for 2004-2013. The deadweight losses in gasohol are estimated through the changes in consumer and producer surplus applying the Johansen cointegration method and the Vector Error Correction Model.

Successful behavioral interventions to reduce the consumption of unhealthy food help lessen the burden of non-communicable diseases. In prior research, a conventional approach such as providing nutrition information could not overcome the  “tasty” impact of unhealthy food. This study is a field experiment, conducting in a casual restaurant, designed to assess the effects of behavioral- and cognitively-oriented interventions on healthy meal choice. The interventions include convenience enhancement, visibility enhancement and a combination of the...

Portfolio management strategy enables investors to reduce risk and maximize return. Investment in different stocks in equity market helps reducing non-systematic risk however systematic risk of portfolio obviously affected by macroeconomic conditions. Different stages of business cycle associates with changes in macroeconomic environment together with business sentiment and different market expectations which impact performance of specific asset classes in each stage. Equity in different stock sectors responses differently in various economic a...

The aim of this dissertation is to study the bubbles in the economy. There are two separated studies which are 1) “Testing the bubbles and the crashes of the asset prices: The evidence from the southeast Asian countries.” and 2) “Can government bond replace rational bubbles? The empirical investigation on Singapore and Thailand.” combined in this dissertation.  For the long period of time, many economists try to find the detector for the existense and the crashes of the bubble. However, many of econometric models might distinquish the explos...

Local government policies have been strongly linked to the principles of subsidies and decentralization in Thailand since 1997. The distribution model for local government organizations is linked to the suitability or need for change, which often depends on the economic efficiency and size of the local government organization in terms of population, i.e. economies of scale. This study contributes to the discussion on economies of scale under the conditions of Thai local administrative organizations based on the Cobb-Douglas production functi...

Regrading a rapid ageing population in Thailand, its effect will impact to labor participation by creating labor shortage and harming economic growth respectively. As a trend of being self-employed tends to increase significantly in near future (Arayavechkit, et.al. 2015), it raises a concerning of saving for retirement due to lacking of social security and pension funds. Therefore, it becomes a self-employed responsibility to decide their planning and save for retirement by themselves in order to meet retirement well-being. Since financial lit...

The paper generates the top 5-coin index and the top 5-token index and treats them as the cryptocurrency price to investigate for three main objectives. First, it has to investigate the short-term dynamic spillover between cryptocurrency and main traditional assets. Second, it has to examine the fundamental characters of both coin and token by long-term relationships with other traditional assets, as well as forecasting price ability. Third, it has to analyze the asset allocation for the portfolio optimization approach by applying the dynamic c...

The stock return predictability still be a puzzle in the financial economics society that have not yet solved for several decades. Some of them believe that they are  predictable, and that stakeholders are able to ensure opportunities to allocate their assets in advance  while others disagree and believe in stock market efficiency.  In spite of the fact that a number of researchers that have recognized the predictive model as fact, there are still some doubts in terms of econometric issues. Econometricians generally agree that the predictive va...

This dissertation consists of three self-contained essays dealing with three separate issues, based on the policy objectives and the methodologies used to approach them. The ultimate goal is to provide policy makers the necessary information for better informed decisions when designing environmental policies in the context of national parks (where Khao Yai National Park is used as a representative).

Thailand has many compulsory saving schemes for income security at old age. A crucial question is whether how different saving schemes affect saving behavior of workers with different working status. Whether the dissimilar in saving is related to the observable characteristics of workers or is due to the effect of benefits in different saving schemes. It is essential to determine that compulsory saving schemes encourage formal workers to save more or discourage saving. At the same time, it must be determined whether informal workers who do not ...

The decline in labor force due to a rapid transition of population structure to an aging society in Thailand has raised concerns over economic potential of the country and demanded urgent policies to tackle the labor reduction problem. Promoting elderly employment is a possible way of addressing the reduction in labor force, as current and future seniors tend to be healthy and highly educated. They can maintain human capital and remain productive even after retirement. Elders are highly experienced and this human capital enables them to work ef...

Forests have significant functions for the global ecosystem. Despite its immense contribution to our wellbeing, deforestation is continuing to be one of the world’s biggest problem leading to degradation of environmental and human welfare. In developing countries, there has been ongoing controversy in balancing economic development on the one hand and the need to conserve forests on the other. A key to balancing development and conservation is an accurate estimation of the economic value of forests and use it in decision making.  In this regard...

This dissertation contains three papers concentrating on human capital, inequality and economic growth in Thailand. All three papers use the Labor Force Survey (LFS), conducted by National Statistical Office (NSO) in Thailand. First paper (Chapter two of this dissertation) aims to find intergenerational rate of transmission of human capital. As one of the major limitations of finding intergenerational rate of transmission is endogeneity problem, this paper contributes by proposing an alternative instrument to find rate of transmission of human ...

This paper attempts to assess the degree of competition in Thailand’s banking system, and examine the evolutionary effect of bank regulations. Furthermore, this paper investigates how a change in competition can affect the monetary policy on bank lending channel in Thailand. This study employs panel data from ten commercial banks over quarterly time periods from 2001–2015. The competition variable is measured using the Lerner index. Bank regulations can be divided into four groups: (i) restrictions on banking activities, (ii) limitations on for...