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Myanmar: On a Bumpy Road of Transition

In: Southeast Asia and the ASEAN Economic Community

Author

Listed:
  • Thomas Bernhardt

    (Department for International Financial Institutions, Austrian Federal Ministry of Finance)

  • Aung Hein

    (Woodrow Wilson School of Public and International Affairs, Princeton University)

Abstract

After decades as pariah state, Myanmar embarked on a transition toward democracy in 2010 which culminated in the first free elections in 25 years in 2015. In parallel to political liberalization, the country also opened up and reformed economically. Foreign capital started flowing in, trade increased enormously, the financial sector expanded, private business began to flourish, and rapid economic growth ensued. Lately, however, the road of transition has become bumpier. Peace negotiations and national reconciliation are moving only slowly and the economic reform momentum has slowed. Myanmar’s economy continues to suffer from limited diversification, low productivity, and poor infrastructure. Regional and global economic integration has progressed but remained fairly shallow. This chapter notes various social indicators that have improved as well as shortcomings that persist.

Suggested Citation

  • Thomas Bernhardt & Aung Hein, 2019. "Myanmar: On a Bumpy Road of Transition," Springer Books, in: Roderick Macdonald (ed.), Southeast Asia and the ASEAN Economic Community, chapter 0, pages 351-377, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-19722-3_11
    DOI: 10.1007/978-3-030-19722-3_11
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