Ammar Siamwalla, Thailand’s pioneering economist, dies at 86

TDRI announced the passing of Ammar Siamwalla, its honorary scholar and former president, in a Facebook post at 9.30pm on Saturday (October 4).

A founding figure of TDRI, Ammar played a vital role during its establishment and became its first researcher. Throughout his career, he produced numerous academic works that significantly contributed to Thai society, the nation’s development, and the public good.

“He was the spirit, the beloved mentor, and the most respected figure of TDRI,” the institute wrote, inviting the public to commemorate his lifelong dedication to research and public service.

TDRI also shared a link to the commemorative book “In Honour of Ammar Siamwalla’s 60th Birthday,” which compiles his writings and reflections from scholars who had worked alongside him: https://tdri.or.th/wp-content/uploads/2013/01/po4.pdf.

Many pay tribute to Ammar Siamwalla

As tributes poured in following the passing of Ammar Siamwalla, Somchai Jitsuchon, TDRI’s research director for inclusive development, shared a heartfelt message on social media quoting the line: “A straight man in a crooked country.”

This powerful and concise line, once penned by Ammar himself to describe another revered economist, Puey Ungphakorn, perfectly captured Puey’s integrity and moral courage — and now fittingly reflects Ammar’s own legacy.

“I’ve known Professor Ammar for a very long time,” Somchai wrote. “Since my undergraduate years at the Faculty of Economics, Thammasat University, where he once taught before my time. He left behind a rich academic legacy there.”

“I still remember a diagram he created to explain Thailand’s rice premium policy, later used in microeconomics classes. It clearly illustrated how misguided government interventions could distort the market. Even as a student, I thought whoever drew that diagram was truly brilliant — and indeed, that was Dr Ammar Siamwalla.”

Somchai recalled joining the TDRI almost 40 years ago, not long after Ammar, when the institute’s founding team included such eminent economists as Veerapong Ramangkul, Chalongphob Sussangkarn, Anat Arbhabhirama, and Narongchai Akrasanee.

“They were all among the finest economists and scholars in the country, but Ammar stood out in his own way — for his breadth of knowledge, his wit and wisdom, and his masterful command of both Thai and English,” Somchai said.

“What always surprised me,” he added, “was how eloquent his Thai was, despite his Indian heritage and the fact that he hadn’t spoken Thai at home before marriage. I remember once hearing him recount a youthful adventure, using the word ‘ka-kan’ (cheeky or bold) — probably the only time I’ve ever heard a senior scholar use that word.”

Many of Ammar’s most memorable stories were told over lunch at TDRI, when colleagues would eagerly await his insights — whether on economics, history, politics, or society. 

“His discussions always opened our minds,” Somchai said. “His knowledge was deep, his analyses sharp, and his intellectual independence remarkable. He could recall exactly when major events — in Thailand or around the world — had occurred, not because he memorised them, but because he truly understood their context.”

What set Ammar apart, Somchai noted, was his intellectual honesty and courage. “He was fearless and free-spirited, never afraid to question anything — and often able to answer those questions himself. Such qualities are rare among Thai academics, whether of his generation or later.”

Ammar’s fascination with numbers was legendary. Before returning to Thailand, he once requested to work closely with the National Economic and Social Development Council to study GDP accounting methods. 

“It was probably from that experience,” Somchai said, “that he coined his famous analogy: ‘Sausages may be delicious, but if you ever visit a sausage factory, you might never want to eat them again.’”

Ammar’s contributions to public policy and academia were countless — from landmark research on rice and agricultural debt to his leadership in the post–Tom Yum Kung crisis economic review.

His writings in both Thai and English helped demystify complex economic issues, such as the Bank of Thailand’s balance-sheet consolidation, for the general public.

He was also one of Thailand’s earliest inclusive economists, deeply concerned about the lives of ordinary people — focusing his research on agriculture, poverty, household debt, and rural development.

His independent spirit often put him at odds with authoritarian politicians, whether born of coups or elections. 

In the 2000s, he was an outspoken critic of former prime minister Thaksin Shinawatra and his policies — so much so that newspapers frequently ran headlines like “Ammar blasts…” Yet Ammar wholeheartedly supported Thaksin’s 30-baht universal healthcare scheme, recognising its social value.

His sense of humour was unique — never frivolous, often laced with irony and intellect. Somchai recalled: “During Thaksin’s heyday, when few dared challenge him, Ammar once quipped, ‘One Vision a Day,’ mocking the prime minister’s constant stream of grand visions.”

“For all these reasons,” Somchai concluded, “whenever I meet foreign economists, I tell them that Dr Ammar Siamwalla was the finest Thai economist of our generation. Even now, I’ve yet to meet anyone who impresses me as deeply.”

“What I admired most was his intellectual integrity. He always listened to differing views if they were backed by evidence, and he was never hesitant to revise his own beliefs when presented with solid arguments.”

“Perhaps that’s why he once grew irritated with scholars who clung stubbornly to dogma. He even called one group ‘majority fundamentalists’ — people obsessed with following the majority without considering other perspectives.”

“In every sense, Ammar embodied what Professor Puey once said an economist should be — not only knowledgeable in economics, but also well-versed in other fields. His breadth of knowledge earned him the affectionate nickname from his Thammasat colleagues: ‘the walking encyclopedia.’”

Major influence on Abhisit government’s economic policy

Former finance minister Korn Chatikavanij posted a heartfelt tribute on Facebook, bidding farewell to Ammar Siamwalla with the utmost respect and affection.

“Professor Ammar had a profound influence on my thinking,” Korn wrote, “and was one of the most significant intellectual influences on the Abhisit Vejjajiva government’s economic policy direction.”

He recalled Ammar’s sharp, thought-provoking insights, saying the late economist often challenged conventional views. 

“He once told me that the 30-baht healthcare scheme would only improve in quality when the middle class and the well-off also use the system. As long as it remains a scheme exclusively for the poor, it will never develop to its full potential,” Korn wrote.

“Whenever a political leader says, ‘Those who can afford it should go to private hospitals so the poor can access public healthcare,’ Ammar would counter that it sounds reasonable, but in the long run it undermines the universal healthcare system.”

“The real challenge, he said, is ensuring sufficient funding for the 30-baht scheme — and as long as the powerful and influential are not among its users, adequate resources will never be allocated.”

Korn added that Ammar’s intellectually rigorous and economically grounded way of thinking brought immense value to society, sparking meaningful debate — something he always welcomed.

“The passing of Dr Ammar Siamwalla is a great loss,” Korn concluded. “My deepest condolences to his family.”

Biography of Ammar Siamwalla

Professor Dr Ammar Siamwalla, born on May 29 1939, was one of Thailand’s most distinguished economists. He served as president of the TDRI from 1990 to 1995 and as a member of the National Legislative Assembly from 2006 to 2008.

Of Indian descent, his ancestors migrated to Thailand. He was the youngest son of Tahir and Khadija Siamwalla, who owned an international stationery import business.

Ammar completed his secondary education at Assumption College in Bangkok and St Paul’s School in Darjeeling, India. He earned his bachelor’s degree in economics from the University of London and his PhD from Harvard University.

He later taught economics at Yale University before returning to Thailand as a special professor at Thammasat University, where he remained until his departure following the political unrest of October 6 1976.