2007年4月26日星期四

http://www.asiamarketresearch.com/news/000243.htm
Abstract:
This article discusses the large difference between disposible income (DI) and actually expenditure in Thailand. Especially in Bangkok, the actual DI of the population is much smaller compared to the neighboring countries such as Singapore or Malaysia. However, the population still manages to consume a great amount.

Analysis:
Disposible Income is the actual income of an individual reported to the government, it is the amount of income an individual receives after paying taxes. Individuals can either spend or save DI. This vast difference between DI and expenditure in Thailand could be due to a couple of reasons. Firstly, wealth and household debt are two non-DI determinants. In other words, Thai people could have a low income (that they pay tax for), but they might own a great amount of wealth (such as houses, especially when house prices rise). This posession of wealth would naturally cause the people to consume much more.
Secondly, when households consume on debt, in the short run, they will use much more of their DI as expenditure, and thus save less. Therefore, in the short run, inividuals can use their credit card to consume much more than their actual DI. This will make consumption increase as well.
All of these factors would contribute to a higher GDP since one of the elements of calculating GDP (The expenditure approach) has increased.
Finally, in Thailand, especially Bangkok, there is a great amount of injection of GDP due to tourism. Foreigners spend a great amount of money (inject GDP) into the macroeconomy of Thailand. Certainly some of the injected money will be lost due to leakages, but in general, it will contribute to a higher GDP for Thailand since the expenditure of foreigners will become the income of Thais, and this income will become someone else's income... etc.

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