A PIER research study reveals Thailand's economic slowdown stems not from insufficient capital but from capital misallocation. Key findings show asset turnover efficiency declined from 1.24 to 0.88 times over a decade, capital is flowing to less efficient businesses rather than high-performers, and SMEs—employing 13.6 million people—face dual barriers: only 20% access bank credit compared to 60% for large firms, while paying 7.8% interest versus 3.9% for larger peers with similar risk profiles. This systemic credit mispricing suggests the financial sector needs better screening and pricing mechanisms to reallocate resources toward productive sectors.