Democracy may be a casualty of Thailand's newly approved constitution, but the referendum's result may also boost the country's struggling economy.
Voters accepted the military-backed constitution in Sunday's referendum, with 61.4 percent in favor with 94 percent of the votes counted, Reuters reported. But turnout was considered relatively low at only 55 percent of the electorate. It was the country's 20th constitution in 83 years.
Aim Sinpeng, a lecturer in comparative politics at the University of Sydney, told CNBC's "The Rundown" that investors were expected to look at the outcome favorably.
"Given the mandate that's given to the military, it would at least buy Thailand some time for the government to come up with an actual economic plan for the country," Aim said.
"That time would be stable and less challenged compared to the previous two years of military junta, where it started to look really rocky."
The country's economy has stumbled amid a lack of external demand for its exports given the sluggish global backdrop, while the political uncertainty within the country had slowed investments and discouraged tourism, a key sector for the country.
On Monday, the Bank of Thailand said it expected this year's gross domestic product (GDP) was expected to growth 3.1 percent, Reuters reported.
But Aim added, "the very foundation of the political system will be undermined by a number of undemocratic clauses" in the constitution.
"It's very clear from the beginning that this constitutional draft was to provide the un-elected elite, particularly the military, a permanent hold on power on Thailand," Aim said.
A member of the current Thai government disagreed.
Panitan Wattanayagorn, adviser to the deputy prime minister for security, told CNBC's "Squawk Box" that "Prime Minister Prayut [Chan-o-cha] is committed to have an election next year. I think that's very clear."