Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government

Koji Kubo

No 376, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: Despite more than two decades of transition from a centrally planned to a market-oriented economy, Myanmar’s economic transition is still only partly complete. The government’s initial strategy for dealing with the swelling deficits of the state economic enterprises (SEEs) was to put them under direct control in order to scrutinize their expenditures. This policy change postponed restructuring and exacerbated the soft budget constraint problem of the SEEs. While the installation of a new government in March 2011 has increased prospects for economic development, sustainable growth still requires full-scale structural reform of the SEEs and institutional infrastructure building. Myanmar can learn from the gradual approaches to economic transition in China and Vietnam, where partial reforms weakened further impetus for reforms.

Keywords: Myanmar; Transition to market economy; Economic policy; Government economic enterprises; Transition; State economic enterprises (search for similar items in EconPapers)
JEL-codes: H61 O53 P21 (search for similar items in EconPapers)
Date: 2012-12-01
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Citations: View citations in EconPapers (1)

Published in IDE Discussion Paper = IDE Discussion Paper, No. 376. 2012-12-01

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Journal Article: Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government (2013)
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