Changes in AS/LRAS

 Thailand GDP per hour worked over last 10 years: 

This is the GDP per hour, which has had a steady increase over the past 10 years. This shows that workers are being more productive which would be a qualitative shift. This would cause a shift to the right on the LRAS because over time there has steadily been growth in productivity. 

https://www.statista.com/statistics/878207/thailand-labor-productivity-per-hour/ 

Thailand GDP Per person employed 1991-2019($): 


The GDP per person employed shown here also shows an upward trend that is pretty similar to the GDP per hour. This graph looks at a longer time frame, but it would still have a shift to the right in the LRAS. More employment means that there are more people working which would be a quantitative shift. 

https://data.worldbank.org/indicator/SL.GDP.PCAP.EM.KD 

Thailand Immigration:



This shows the immigration rate in Thailand over the last 30 years. There has been a steady incline in the migrant population and migrants have become a larger portion of the overal population of the country. Many of these immigrants are coming from Cambodia and Myanmar. More migrants mean that there are more people in the workforce which would be a quantitative change causing the LRAS to shift to the right as the migrant population continues to rise. 

https://www.macrotrends.net/countries/THA/thailand/immigration-statistics 


Thailand Population Growth Rate: 
https://www.worldometers.info/world-population/thailand-population/ 


The population has been steadily increasing, although the rate at which it is growing has slowed down. Still, with more population this means there are more workers who could contribute and help the LRAS shift to the right. This however will not be something that is immediately apparent. It may take many years for there to be an increase in productivity or quanitity of people in the workforce becasue even as the growth rate grows up these people are too oung to work. 


Some other information: 

- The services sector is the biggest contributor to AS in Thailand, making up around %40 of national employment. 
- Thailand had a financial crisis from 1997-98 which negatively effected their AS. After this there was a recovery in output, but the labor productivity was down %10. Labor productivity has steadily gone back up since then. 
- Overall Thailand has had positive trends that show a productive economy and shifts to the right in the AS and LRAS. They have especially thrived in telecommunications because they were able to create a productive system at a low cost. 
- Because of the economic crisis in 1998 the productivity of the service industry fell and has been slow to recover. This industry was hit hard again during Covid-19 as tourism slowed, and people are begining to focus more on telecommunications and other tech related industries for employment over the previously favored service industry. 


http://documents1.worldbank.org/curated/en/424961468312353768/pdf/662800WP00PUBL08productivity0report.pdf 



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