Do Criminality and Socioeconomic Stress Hinder Economic Development of an Emerging Southeast Asian Economy?

Abstract

The primary objective of this research is to investigate how factors such as criminal activity, social and economic pressures, and economic growth in Thailand interact with one another. In order for the study to be successful, the ARDL methodology was used. In order to conduct its analysis of the data, ARDL IV considered both the near and the far future. The work of a lot of scholars have allowed us to compile this information spanning 37 years, from 1979 to 2015. The findings demonstrated that a significant amount of focus is placed on the roles that crime serves, in particular as a barrier to the progression of economic growth. As a result of economic crime, even more money is lost, and highly skilled people are more inclined to quit their positions, making it an even more problematic situation than the gray market. The previous results imply that there is a positive association between socioeconomic stress and some features that are associated to criminal behavior. The deterrent factors, with the exception of the person's criminal background, all functioned as expected for the other variables. There was evidence to imply that there was an increase in property crime when families were unstable. The dissatisfaction, anger, and stress of the people in Thailand are represented in the socioeconomic elements that prevail in the country, as shown by the association between socioeconomic stress and variables related to crime. People come up with creative solutions to make ends meet when their quality-of-life lowers as a result of the social and economic situations in their environment. The study will help policymakers and practitioners better understand the obstacles faced by socioeconomic restrictions in emerging countries like Thailand