Financial Deepening Role to The Sustainable Development Pillars Achievement in Thailand: A Comprehensive Review

Abstract

Financial deepening is focused in recent studies and plays a key role towards the country’s sustainability success. Since Sustainability Development Goals (SDGs) 2030 agenda were adopted, economic growth, environmental quality and income distribution have been viewed as three pillars of sustainable development goals for every country. Currently, Thailand is developing their country extensively, however, Thailand’s development is still an issue where the sustainable development pillars in each year are yet to align with the SDGs requirements attainment. A gap has been found as the financial deepening supply shows an uneven and mixed result for the three sustainable development pillars in Thailand. Therefore, by employing time series data analysis and several estimation techniques, the aim of this research is to investigate and confirm the correlation between financial deepening and the sustainable development pillars in Thailand. Hence, the outcome of this research is to prove the financial deepening as the role to the sustainable development pillars achievement in Thailand and improvise the effectiveness of the financial deepening policy in Thailand.