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Myanmar: Unlocking the Potential - A Strategy for High, Sustained, and Inclusive Growth

Author

Listed:
  • Findlay, Ronald

    () (Columbia University)

  • Park, Cyn-Young

    () (Asian Development Bank)

  • Verbiest, Jean-Pierre

    () (Mekong Institute)

Abstract

Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more coherent strategy targeted at strong and resilient growth, employment generation and, ultimately, rapid reduction of poverty. The government needs to carefully prioritize and sequence reforms, and identify and address the constraints to allow acceleration of economic growth by expanding the large domestic market and developing a vibrant manufacturing export sector that can generate substantial employment. This paper briefly reviews Myanmar’s history and its legacy, examines the economy and some of the main policy reforms undertaken since 2011, assesses development potential, and outlines medium- and long-term growth strategy based on the country’s specific context and international best experiences and practices.

Suggested Citation

  • Findlay, Ronald & Park, Cyn-Young & Verbiest, Jean-Pierre, 2015. "Myanmar: Unlocking the Potential - A Strategy for High, Sustained, and Inclusive Growth," ADB Economics Working Paper Series 437, Asian Development Bank.
  • Handle: RePEc:ris:adbewp:0437
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    More about this item

    Keywords

    economic diversification; macroeconomic stability; Myanmar; natural resource-based sectors; regionally balanced development; social inclusion;

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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