Thailand: The dangers of farsightedness

The dangers of farsightedness – Economist, October 1, 2016
…For all of its waste and corruption, the Shinawatra style of clientilistic mass politics helped to spread spending power to the poorer regions, where local bigwigs doled out funds disbursed from the central government. All that has changed under the junta, which has kept a firmer grip on the purse-strings.
The National Village Community Fund, which has allocated 500,000 baht each to almost 80,000 villages for rural projects, is now administered by the ministry of interior. The state’s Special Financial Institutions, which provide rural credit, are now regulated by the central bank, having previously been the playthings of provincial politicians. These days, if you wait for money from Bangkok, “you’ll wait forever,” says Mr Suradech…

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