| ID | 132569 |
| Title Proper | Introductory overview |
| Other Title Information | Myanmar's Economic Reforms |
| Language | ENG |
| Author | Than, Tin Maung Maung |
| Publication | 2014. |
| Summary / Abstract (Note) | President Thein Sein's government launched a series of political, economic and administrative reforms soon after assuming power in March 2011. The economic reform agenda emphasizes good governance, transparency and accountability while including measures for attracting foreign direct investment (FDI), liberalizing trade, enhancing regional economic cooperation, reducing the state's economic role, boosting productivity and balancing equity with efficiency. A more systematic exposition of reforms is the government's Framework for Economic and Social Reforms (FESR). With the removal of most of the Western punitive sanctions, liberalization of finance, banking, trade and investment sectors and replacement of the overvalued fixed exchange rate with a managed float, Myanmar, with its rich natural resources and virtually untapped market, has become the favoured emerging market for the international business community. However, the country's economic transition is not going to be smooth as there are many structural and other problems inherited from decades of mismanagement and neglect, as well as socio-political challenges. Meanwhile, little research on problems and issues in the various economic sectors is available to the reformist government, whose lack of capacity makes it all the more difficult to institute reforms. However, the returning international financial institutions, Western government-linked aid agencies and private consultancies have brought in expertise to narrow the information gap. In this special edition on Myanmar reforms, issues related to external trade, exchange rate, finance, banking, business environment and potential economic strategies, which are vital components of the reform agenda and crucial for Myanmar's sustained growth, are analysed. |
| `In' analytical Note | Journal of Southeast Asian Economies Vol.31, No.2; Aug.2014: p.165-172 |
| Journal Source | Journal of Southeast Asian Economies Vol.31, No.2; Aug.2014: p.165-172 |
| Key Words | Myanmar ; Economic reforms ; Framework for Economic and Social Reforms - FESR ; Political Reforms ; Emerging Market ; Economic Reform ; Good Governance ; Liberalization ; Socio-Political Challenges ; International Economy ; International Economic Institution - IEI ; Economic Strategies ; World Bank ; IMF |