Thailand's prime minister on Monday dissolved parliament and called a snap election, but analysts say the step may have come too late to stop the waves of anti-government protests which have crippled the capital since early November.
"The problem this time may not be easily resolved by a simple house dissolution," Pimpaka Nichgaroon, head of research at Thanachart Securities, told CNBC. "The house dissolution has come so late that protesters have built up momentum to the point where they are now demanding an unelected interim government to reform Thai politics before Thailand can head into the new elections."
She isn't the only one concerned about the democratic process in Thailand.
"Ultimately, they probably want some form of democracy to be preserved in Thailand," Derek Bloomfield, an analyst at Deutsche Tisco, told CNBC. "They will probably come back to that, but in the interim period, they may have another set of ideas."
Protest leaders have also said the dissolution won't end their demonstrations, with anti-government leader Suthep Thaugsuban saying he would continue a march on Monday to the prime minister's offices at Government House.
Thailand has been beset by periodic political unrest in recent years, with some incidents turning violent. Much of the turmoil dates from a 2006 military coup which ousted then Prime Minister Thaksin Shinawatra.
(Read more: Violent protests expose cracks in Thai economy)
The latest demonstrations were triggered in early November by parliament's consideration of a government-backed amnesty bill that could have allowed Thaksin to return home without facing time in prison for a graft sentence in 2008 as well as granting immunity to politicians implicated in 2010 violent protests which killed about 90 people.
While that bill was dropped, the street protests have broadened out to an explicit call for current Prime Minister Yingluck Shinawatra, who is Thaksin's sister, to step down.
(Read more: Political protests spook Thai central bank)
Analysts are also watching whether the opposition Democrat party will boycott the election after its lawmakers resigned en masse from the lower house of parliament over the weekend, in a move that reduced the 500-member body to 347. The party boycotted the election in 2006, shortly before Thaksin was ousted from power.