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Main Objective:
To enhance the economic forecasting efficiency and assist the MPC in making appropriate monetary policy decisions by providing some insights and useful information which cannot be captured by the econometric model, which is inevitably subject to the theoretical constraints and structural model of quantitative analysis. Therefore, the Bank of Thailand has set up the Economic/Business Information Exchange Program as one channel for exchanging information and building better understanding about Thailand’s economic conditions, both at macro and micro level, with the private sector. The acquired information and business opinions will then be used to support and incorporate into the macroeconometric model for optimal monetary policy responses respectively.
In conducting this exchange program, the Bank of Thailand will pick and choose approximately 300 - 400 firms each year throughout the country, including small, medium, and large firms, in order to cover and reflect almost all real economic activities of the economy. Subsequently, the mission team will be assigned to discuss and exchange views and information with the executives from the private sector. Key issues in each particular visit include:
1) Current business condition and its 1-year outlook
2) Investment outlook and
3) Problems in operating business and recommendations.
The Bank of Thailand will then compile and analyze the information obtained in the form of “Business Report”, which will be disseminated quarterly on the BOT website. (The first issue disseminated was January 2004)
Directory: List of firms which are assembled in the database of the
“Economic/Business Information Exchange Program” |
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