Myanmar: Unlocking the Potential. A Strategy for High, Sustained, and Inclusive Growth

41 Pages Posted: 23 Dec 2015

See all articles by Robert Findlay

Robert Findlay

Columbia University, Graduate School of Arts and Sciences, Department of Economics

Cyn-Young Park

Asian Development Bank

Jean‐Pierre A. Verbiest

Mekong Institute

Date Written: July 2015

Abstract

Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more coherent strategy targeted at strong and resilient growth, employment generation and, ultimately, rapid reduction of poverty. The government needs to carefully prioritize and sequence reforms, and identify and address the constraints to allow acceleration of economic growth by expanding the large domestic market and developing a vibrant manufacturing export sector that can generate substantial employment. This paper briefly reviews Myanmar’s history and its legacy, examines the economy and some of the main policy reforms undertaken since 2011, assesses development potential, and outlines medium- and long-term growth strategy based on the country’s specific context and international best experiences and practices.

Keywords: economic diversification, macroeconomic stability, Myanmar, natural resource-based sectors, regionally balanced development, social inclusion

JEL Classification: E02, E61, O14, O25

Suggested Citation

Findlay, Robert E. and Park, Cyn-Young and Verbiest, Jean‐Pierre A., Myanmar: Unlocking the Potential. A Strategy for High, Sustained, and Inclusive Growth (July 2015). Asian Development Bank Economics Working Paper Series No. 437, Available at SSRN: https://ssrn.com/abstract=2707456 or http://dx.doi.org/10.2139/ssrn.2707456

Robert E. Findlay

Columbia University, Graduate School of Arts and Sciences, Department of Economics ( email )

420 W. 118th Street
New York, NY 10027
United States

Cyn-Young Park (Contact Author)

Asian Development Bank ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines
(632) 632-5473 (Phone)

HOME PAGE: http://www.adb.org

Jean‐Pierre A. Verbiest

Mekong Institute ( email )

123 Khon Kaen University
Mittraphap Rd., Muang District
Khon Kaen, 40002
Thailand

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