Lessons from Japan and Taiwan, from halving and halving to 10,000 baht digital money | Matichon Sudsap

Pluto looking at Earth | Pluto

Lessons learned from Japan and Taiwan

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From each half

For digital money 10,000 baht

The 10,000 baht digital money distribution project is a project that the community is very interested in at the moment. There are voices calling for speedy implementation of the project and voices opposing it. The opposition group, led by 99 academics and economics professors, began agitating for this trend.

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Later, on October 19, Ms Sirikanya Tanskul, head of the Imam Party’s economic team, tweeted an article about studying a shopping voucher program in Japan. It’s an interesting article

Japan has previously established a program to stimulate spending by granting vouchers to families with children under the age of 15 and families with elderly people over 65 to spend in their local communities, that is, within their villages and cities. In 1999 to stimulate the economy because at that time Japan was suffering from economic recession problems.

The government expects people to use vouchers to stimulate household spending. Stimulate consumption to increase economic growth and help small businesses

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A 20,000 yen (about 6,100 baht) voucher distribution project from Japan intends to distribute vouchers to approximately 32 million people who meet the criteria, representing 25% of the entire country’s population. The total budget is about 620 billion yen (about 180 billion baht), which represents a proportion of GDP of about 0.1%.

These coupons cannot be transferred or transferred to others. You should only spend it in the city you live in unless the local government allows it

Coupons are valid for 6 months. Coupon restrictions are: They cannot be used to purchase government lottery tickets, pay taxes, or pay utility bills. Or used to pay off debts

The study revealed that out of a total eligible population of 32 million people, 31 million people applied for vouchers, representing 97% of those eligible. The coupons disbursed during the project period represented 99.6% of the total coupons distributed.

Project results from the research study conducted by Mr. Chang Tai Hsieh, Mr. Satoshi Shimizutani and Mr. Masahiro Hori who jointly studied, it was found that people spend more on coupons for semi-durable goods. (Semi-durable goods include fashion products, cosmetics, small electrical appliances and sports equipment) It does not increase the consumption of non-durable goods (such as food) or services in any way.

However, research shows the magnitude of the results. Measured as marginal propensity to consume or MPC value, the resulting MPC value is only 0.1-0.2.

An MPC value of 0.1 to 0.2 means that if household income increases by 1 baht (from coupons), consumption will increase by only 10 to 20 satang.

This means that if Japan creates a project with a budget of 180 billion baht, it will stimulate consumption by only 18-36 billion baht, much less than double the project amount.

Besides Japan, Taiwan also launched a similar project in 2009.

In 2009, Taiwan was hit by a major economic crisis, the hamburger crisis. From the United States creating an impact on the global economy Taiwan is highly dependent on exports Taiwan’s GDP was severely affected in the fourth quarter of 2008, and was negative from the previous year by -8.36%, which is considered very serious.

Therefore, the Taiwan government launched a large-scale economic stimulus package. With an economic stimulus program worth NT$500 billion (about 15 billion US dollars or about 530 billion baht), the project has a voucher distribution program to stimulate household spending worth NT$83 billion (about 2.57 billion baht). Or approximately 90 billion baht) which represents about 0.68% of GDP in 2008.

The Taiwan Voucher Program is distributed to all citizens who were born before March 31, 2009. It can be said that it is distributed to everyone in the entire country.

Vouchers can be used for both registered and unregistered sellers of goods and services. It can be spent on everything except utility costs, loan debt/credit card debt, stock purchases, fines for violations, and taxes.

The vouchers have a total value of NT$3,600 (about 3,800 baht), divided into 6 vouchers of NT$500 and 3 vouchers of NT$200, all vouchers are transferable.

The differences between the Taiwan Voucher Program and the Japan Voucher Program are: Some operators organize promotions. To attract people to use coupons for their business. Until the coupon trading price becomes higher than the price specified in the coupon

Results of the coupon program in Taiwan From a study conducted by Kamhon Kan, Shin-Kun Peng, and Ping Wang, the MPC value after removing deviations from in-store promotions was found to be approximately 0.164, which is very consistent and close to the research study of the coupon project in Japan.

For Thailand, the budget is used to create the Half-Half project, including 5 phases, more than 210 billion baht, and the We Travel Together project, all 5 phases, including both projects, have a value approximately equal to 10,000 baht digital party. Fund distribution project for Thai people in the country expressed their congratulations and high praise for this policy.

Both the Half and Half project and the We Travel Together project are unable to stimulate the economy as the government announced

Why did 99 academics and economics professors come out to oppose this digital money distribution project? So he never came out to oppose the Half Project and the “We Travel Together” project. Both are projects of the same nature. Some of you even supported both projects.

When looking at the project format and the size of the project value relative to GDP, projects from Thailand were found to have a higher project budget than the voucher programs in Japan and Taiwan. Lessons learned from the Japanese Voucher Project, the Taiwan Voucher Project, the Half-Half Project and the “We Travel Together” project include. It will likely give Thailand an answer regarding the 10,000 baht digital money distribution project as well as how much of this budget amount can increase household consumption.

“It’s better to lose face a little” than to “regret it later.”

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