Financial Reforms in Myanmar and Japan's Engagement

Tomoo Kikuchi and Takehiro Masumoto

No DP-2016-27, Working Papers from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: Since 2011, under the Thein Sein government, Myanmar has started to build financial institutions almost from scratch. Japan has played a leading role in this transition, writing off debt, opening the Yangon Stock Exchange, vying for the entry of Japanese banks, and laying out finance-related laws. As in other Southeast Asian countries, Myanmar's oligopolistic economic structure and colonial past present considerable challenges. There is a rich literature on the relationship between well-functioning financial institutions and economic growth, but the causality of this relationship remains inconclusive. This paper examines the preconditions for financial institutions to be a vehicle for Myanmar's development.

Keywords: Financial development; economic development; financial reforms; Myanmar’s economy; Japan–Myanmar relations (search for similar items in EconPapers)
JEL-codes: N2 O2 P4 (search for similar items in EconPapers)
Pages: 30 pages.
Date: 2016-11
New Economics Papers: this item is included in nep-sea
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