Crown Property Bureau in Thailand and Its Role in Political Economy

The Crown Property Bureau has long been ignored in Thai economic literature. However, the Bureau is a huge conglomerate and holding company, with an income in excess of 10 billion baht, and with links throughout the economy. It is also the largest landholder in the country. The Asian economic crisis of 1997 had a significant effect on the financial position of the CPB. The CPB has been instrumental in developing and financing many royal projects, including those relating to the king’s “sufficiency economy” philosophy.