BANGKOK: About 36% of Thailand’s corporate equity is concentrated in the hands of just 500 people, highlighting wealth inequality in the country, a study released by the Bank of Thailand’s research institute shows.
“Magnates arise in Thailand from institutional factors that privilege certain businesses,” Krislert Samphantharak, the author of the study and the executive director of the Puey Ungphakorn institute, said in an interview. The research is based on an analysis of Commerce Ministry data on the 2.1 million shareholders in Thai firms in 2017. Krislert said the study was funded by the University of California San Diego, where he is an associate professor at the School of Global Policy & Strategy.
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