The Chettiars in Burma
In the history of Burma's political economy, few groups have been so roundly vilified as the Chettiars. A community of moneylenders indigenous to Chettinad, Tamil Nadu, the Chettiars operated throughout the Southeast Asian territories of the British Empire. They played a particularly prominent role in Burma where, alas, they were typically demonised as rapacious usurers, responsible for all manner of vices concomitant with the colonial economy. Not least of these was the chronic land alienation of the Burmese cultivator. The purpose of this paper is to reappraise the role of the Chettiars in Burma. Finding that their role was crucial in the dramatic growth in Burma's agricultural output during the colonial era, the paper disputes the moneylender stereotype so often used against them. Employing modern economic theory to the issue, the paper finds that the success of the Chettiars in Burma lay less in the high interest rates they charged, than it did to patterns of internal organisation that provided solutions to the inherent problems faced by financial intermediaries. A proper functioning financial system could have provided better solutions perhaps for Burma's long-term development, but Burma did not have such a system, then or now. Easy scapegoats for what went wrong, the Chettiars merit history's better judgement.
|Date of creation:||Jul 2005|
|Contact details of provider:|| Postal: Sydney NSW 2109|
Web page: http://www.econ.mq.edu.au/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:mac:wpaper:0512. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Boneham)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.