Endnotes

¹See Telford, Cosgrave, and Houghton (2006).

²United Nations and World Bank (2005): p. 19.

³Telford, Cosgrave, and Houghton (2006).

⁴By December 2006, the last 440 unidentified bodies, believed to be migrant workers from Myanmar, had been buried in the cemetery for unidentified tsunami victims in Kao Lak. Their DNA samples have been collected for possible future identification.

⁵Phang Nga suffered most in terms of destroyed hotels. Although the number of hotels in Krabi did not fall much, the number of rooms in operation was reduced by almost 12 per cent because some large hotels were badly affected.

⁶JP Morgan thus underestimated the first quarter growth, while both JP Morgan and Morgan Stanley overestimated the annual growth rate.

⁷This led the World Bank in November 2005 to reduce its growth forecast from 5.2 to 4.2 per cent, and the Asian Development Bank, also highlighting the role of tourism, warned that the current account deficit in 2005 would worsen further if tourist arrival numbers did not recover during the peak season in the last quarter of 2005 (ADB, 2005).

⁸Note that some of these expenses may be subsequently recoverable in the form of paid-back principle and investment returns. In addition, these measures may yield subsequent tax revenues as they indirectly generate employment.

⁹See Nazara and Resosudarmo (2007) and Jayasuriya, Steel, and Weerakoon (2006).

¹⁰Ironically, the SME Bank has the highest rate of non-performing loans among financial institutions in Thailand—at 35 per cent of total outstanding loans amounting to 16 billion baht in 2006.

¹¹The NDWC paid six million baht to the Navy to install the buoy and patrol the area to prevent approaching vessels from getting too close to the beacon.

¹²Bernhard et al. (2005) have argued that the Thai government’s rejection of official aid from other countries may have encouraged corporate donors to make a larger contribution.

¹³There are a number of microfinance organizations operating in Thailand, including the Small Enterprise Development Corporation, which serves 15,000 clients in the northeast region of Thailand. Coleman (2006) found that microcredit may not reach the core poor of northeast Thailand because wealthier villagers participate more than the poor and become committee members who borrow significantly more than rank and file members.

¹⁴They are likely to move into the areas where they do not have comparative advantages.

¹⁵The score was assigned by enumerators after interviews with respondents.

¹⁶The F-tests of means and variances indicate statistical differences at a 0.01 level of significance.

¹⁷More than 70 per cent of the NGOs interviewed were not planning to stay in the areas longer than three years.

¹⁸The pattern of financial assistance provided to tsunami victims has set the standard for mitigating the impact of other natural disasters. Thailand is prone to frequent floods and droughts. In early 2006, the victims of flash floods and mudslides were given $ 600,000 from a contingent budget earmarked for natural disaster relief.

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