What are the Barriers to economic growth for Thailand in 1997?

In 1997, Thailand faced several barriers to economic growth, most notably the onset of the Asian Financial Crisis, which led to a collapse of the Thai baht and triggered widespread financial instability. Other challenges included high levels of corporate debt, inadequate regulatory frameworks, and a lack of transparency in the banking sector. Additionally, the economy was heavily reliant on exports, making it vulnerable to external shocks. These factors collectively hindered sustainable growth and led to a recession in the country.