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Trade, Foreign Investment and Myanmar's Economic Development during the Transition to an Open Economy

Author

Listed:
  • Kudo, Toshihiro
  • Mieno, Fumiharu

Abstract

Throughout the 1990s and up to 2005, the adoption of an open-door policy substantially increased the volume of Myanmar's external trade. Imports grew more rapidly than exports in the 1990s owing to the release of pent-up consumer demand during the transition to a market economy. Accordingly, trade deficits expanded. Confronted by a shortage of foreign currency, the government after the late 1990s resorted to rigid controls over the private sector's trade activities. Despite this tightening of policy, Myanmar's external sector has improved since 2000 largely because of the emergence of new export commodities, namely garments and natural gas. Foreign direct investments in Myanmar significantly contributed to the exploration and development of new gas fields. As trade volume grew, Myanmar strengthened its trade relations with neighboring countries such as China, Thailand and India. Although the development of external trade and foreign investment inflows exerted a considerable impact on the Myanmar economy, the external sector has not yet begun to function as a vigorous engine for broad-based and sustainable development.

Suggested Citation

  • Kudo, Toshihiro & Mieno, Fumiharu, 2007. "Trade, Foreign Investment and Myanmar's Economic Development during the Transition to an Open Economy," IDE Discussion Papers 116, Institute of Developing Economies, Japan External Trade Organization(JETRO).
  • Handle: RePEc:jet:dpaper:dpaper116
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    File URL: https://ir.ide.go.jp/?action=repository_action_common_download&item_id=38051&item_no=1&attribute_id=22&file_no=1
    File Function: First version, 2007
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    Citations

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    Cited by:

    1. Kyaw Maung & Marianne Martinico-Perez & Takahiro Komatsu & Sujauddin Mohammad & Shinsuke Murakami & Hiroki Tanikawa, 2015. "Comparative studies on the driving factors of resource flows in Myanmar, the Philippines, and Bangladesh," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 17(3), pages 407-429, July.
    2. Kubo, Koji, 2012. "Trade policies and trade mis-reporting in Myanmar," IDE Discussion Papers 326, Institute of Developing Economies, Japan External Trade Organization(JETRO).

    More about this item

    Keywords

    Myanmar (Burma); International trade; Cross-border trade; Foreign direct investment; Economic development; Development cooperation; Foreign investments; ミャンマー; 貿易; 国境貿易; 外国直接投資; 経済発展; 開発協力; 国際投資;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • P28 - Economic Systems - - Socialist Systems and Transition Economies - - - Natural Resources; Environment

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