Philosophy of Sufficiency Economy, Logit Model
The purpose of this research paper is to find the relationship between the knowledge of â€œSufficiency Economy Principlesâ€ and the quality of life of the households. It is postulated that, the higher the level of the knowledge of the principles that the household has acquired, the better the quality of life of the household as measured by familyâ€™s income. A number of survey questionnaires have been sent out to families in rural areas in Northern part of Thailand. The sample families are from two types of village: one is under a pilot project called â€œsufficiency economy villageâ€, the other is not. The sampled data have been used to estimate the parameters of the logit model. The results indicate that, the level of education, and the knowledge of the principles have significant influence on familyâ€™s income. The location of the family (i.e., whether or not it is in the Philosophy of Sufficiency Economy prototype village), however, has no significant relation with the familyâ€™s income.
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