The economic history of Thailand between 1880 and 1975 contrastssharply with the development experiences of other Third Worldcountries. Between the opening of trade in 1850 and 1941, when warhalted economic activity, Thailand became a major exporter of rice inthe world market. Although conditions for further growth seemed highlyfavourable, Thailand’s rapid integration into the world economyfailed to improve living standards, and rice yields actuallydeclined.
In examining the causes of the underdevelopment of Thaiagriculture over the last 100 years, Feeny introduces supply and demandmodels of technical and institutional change to analyse why the riceexport boom did not result in more development.
This book, much of which is based on primary research in the ThaiNational Archives, is one of the few quantitative economic histories ofa less developed country.