From the middle of the 1980s to that of the 1990s, Thailand enjoyed an annual economic growth rate of 10%, which was one of the fastest economic growth in the world. However, within six years from 1997 to 2002, it experienced two economic depressions and recoveries. Therefore, this articles tries to analyses the economic background for the declines and recoveries from the domestic, intra-regional and international perspectives, contrasts their characteristics and suggests policies and measures for the Thai government.
