The Effect of technology disruption on economic and consumption growth of Thailand

Abstract

Technology disruption has a considerable impact on today's society and economy. They are bringing about a fundamental change in the way of life of people today. This research aims to find out the relationship between technology disruption on the GDP growth and consumption growth of the population in Thailand between 1991 - 2019 by using the Unit root test and The Multivariate Autoregressive State-Space model. Furthermore, analyze the convergence of economic and consumption growth in two periods during 1991– 2006 (before began 3G in Thailand) and 2007–2019 (after began 3G in Thailand). Our results show a significant relationship between the technology disruption with GDP growth and consumption in Thailand, making it more attractive to invest in technology and stimulate the economy in the future. In the conditional convergence of economic and consumption growth, the result shows that the economy and consumption grow more rapidly after 3G innovations in Thailand.