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Model Conflict Between the Donors: Case of Myanmar

In: Insolvency Law Reforms in Asian Developing Countries

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  • Yuka Kaneko

    (Kobe University)

Abstract

Insolvency law reform in Myanmar is worthy for a further study to reconsider the donors’ involvement from the viewpoint of development. After the launch of 2008 Myanmar Constitution, international donors rushed to embark on legislative reform assistance upon the Washington Consensus path of foreign investment promotion. A crash between such a top-down approach based on a given model and an incremental approach based on local needs was seen when the Supreme Court of Myanmar, which is responsible for drafting of insolvency law, met with concurrent assistance by the Asian Development Bank (ADB) and by Japan’s JICA and Ministry of Justice. This chapter first reviews the characteristic of existing insolvency law in Myanmar inherited from the colonial time, then, investigate into a realty of insolvency practice through interviews, and then ascertain the design features of the 2020 Insolvency Law in comparison to the JICA’s Draft and considers the gaps of donor involvement in meeting with the local needs for the financial culture change.

Suggested Citation

  • Yuka Kaneko, 2022. "Model Conflict Between the Donors: Case of Myanmar," SpringerBriefs in Economics, in: Insolvency Law Reforms in Asian Developing Countries, chapter 0, pages 45-61, Springer.
    • Handle: RePEc:spr:spbchp:978-981-16-8302-2_3
    DOI: 10.1007/978-981-16-8302-2_3
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