Myanmar in Transition: Opportunities and Challenges

Asian Development Bank (adb), Asian Development Bank (adb) (), Asian Development Bank (adb) and Asian Development Bank (adb)
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Asian Development Bank (adb): Economic Research and Regional Cooperation Department, ADB
Asian Development Bank (adb): Economic Research and Regional Cooperation Department, ADB

No RPT124850-2, ADB Reports from Asian Development Bank (ADB)

Abstract: Myanmar, which is emerging from decades of isolation, is poised to accelerate its economic growth on the back of its abundant labor force, rich natural resources, and geographical location.But the country faces many development challenges to achieve strong and inclusive growth.To take advantage of its rich potential and endowments, Myanmar can also use its strategic location between the People’s Republic of China and India, and act as a conduit between South and Southeast Asia.In order to sustain its growth momentum in the long run, Myanmar should aim for a growth trajectory that is inclusive, equitable, and environmentally sustainable. This special report assesses the country’s strengths and weaknesses and highlights the challenges and risks. The key lies in prioritizing the actions to surmount the challenges and introducing the requisite reforms. What makes this transition particularly challenging is the PRC’s incomplete reform, which, compounded by rapid growth, has led to economic imbalances and contributed to rising inequality. Resource constraints and environmental degradation could also hinder growth. This report analyzes the challenges the PRC faces and examines policy options that could help its transformation from a low-cost to a high-value economy, bypassing the “middle-income trap.”

Keywords: adb; asian development bank; asdb; asia; pacific; poverty asia; china economy; productivity; industrialization; labor; macroeconomic; market; innovation; enterprise; investments; economic transition; financial stability; china urbanization; jobs; china gdp; china transformation; china government; china sme; employment (search for similar items in EconPapers)
Pages: 56 pages
Date: 2012-08, Revised 2013-05-07
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