A network analysis of Thai economic structure through input-output model and its link to macroeconomic fluctuation

การวิเคราะห์เครือข่ายโครงสร้างเศรษฐกิจไทยผ่านแบบจำลองปัจจัยการผลิตผลผลิตและความเชื่อมโยงต่อความผันผวนทางเศรษฐกิจระดับมหภาค

Name: Pirapat Pareeratanasomporn

keyword: Input-output analysis

; Network analysis

; Micro-origin of aggregate shock

; Economic structure

Abstract: This study investigates the nature of Thai economic structure and the role of industrial interdependency in shaping Thai macroeconomic fluctuation by using network analysis through input-output database. The positive relationship between network density and total value-added reveals that economic growth leads to the formation of the new industrial activities, but simultaneously increases the speed of shock transmission within the economic system as reflected by the negative relationship between average path length. By incorporating centrality analysis to identify key role sectors, it is found that banking and insurance and industrial mechainary are top influential sectors based on their ability to directly influence other industries based on closeness centrality while restaurant and hotel is considered to be the leading industry to fulfill the role of brigde-like node, connecting economic connection between other sectors as captured by betweenness centrality. Eigenvector centrality and PageRank further indicates that restaurant and hotel, transportation, and public service are among the top prominent sectors in term of their connection with other highly important industries. Moreover, the network analysis of the shape of Thai economic structure indicates that the distribution of outgoing link exhibits heavytail behavior which implies that industrial interdependency can generate or amplify exogenous shock that remain observable at macroeconomic level based on the theory of Acemoglu et al. (2012)

Thammasat University. Thammasat University Library

Address: BANGKOK

Email: preserv@tu.ac.th

Name: Nattapong Puttanapong

Role: advisor

Created: 2017

Modified: 2021-04-09

Issued: 2021-04-09

วิทยานิพนธ์/Thesis

application/pdf

DOI: 10.14457/TU.the.2017.1076

eng

DegreeName: Master of Economics

Level: Master's Degree

Descipline: Economics

Grantor: Thammasat University

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