maintain that free trade agreements and SEZs are incompatible with the principles of the late-King Bhumibol's sufficiency economy, claimed by the government to be the inspiration for governmental economic and social policies. Shadow economy "Thailand's shadow economy ranks globally among the highest," according to Friedrich Schneider, an economist at Johannes Kepler University of Linz in Austria, author of Hiding in the Shadows: The Growth of the Underground Economy. He estimates Thailand's shadow economy was 40.9 percent of real GDP in 2014, including gambling and small weapons, but largely excluding drugs. Schneider defines the "shadow economy" as including all market-based legal production of goods and services that are deliberately concealed from public authorities for the following reasons: (1) to avoid payment of income, value added or other taxes, (2) to avoid payment of social security contributions, (3) to avoid having to meet certain legal labor market standards, such as minimum wages, maximum working hours, or safety standards, and (4) to avoid complying with certain administrative procedures, such as completing statistical questionnaires or other administrative forms. It does not deal with typical underground, economic (classical crime) activities, which are all illegal actions that fits the characteristics of classical crimes like burglary, robbery, or drug dealing. The shadow economy also includes loan sharking. According to estimates, there are about 200,000 "informal lenders" in the country, many of whom charge exorbitant interest rates, creating an often insurmountable burden for low-income borrowers. See also Stock Exchange of Thailand Foreign aid to Thailand Thailand and the International Monetary Fund List of Thai provinces by GPP Further reading The economic history of Siam from the 16th to the 19th century, together with factors affecting the economic outlook for the twentieth, are presented in Porphant Ouyyanont. 2017. A Regional Economic History of Thailand. ISEAS–Yusof Ishak Institute. Pasuk Phongpaichit and Chris Baker. “A History of Thailand”. Cambridge University Press. Pasuk Phongpaichit and Chris Baker. “A History of Ayutthaya.” Sompop Manarungsan. “Economic Development of Thailand: 1850-1950” David Feeny. “Political Economy of Productivity” Tomas Larsson. “Land and Loyalty.” James Ingram. “Economic Change in Thailand: 1850-1970.” William Skinner. “Chinese Society in Thailand: An Analytical History.” Cornell University Press Jessica Vechbanyongratana and Thanyaporn Chankrajang: “A Brief Economic History of Land Rights in Thailand.” Panarat Anamwathana and Jessica Vechbanyongratana. 2021. "The economic history of Thailand: Old debates, recent advances, and future prospects." References External links Thai Ministry of Commerce Thailand Business News World Bank