By Konosuke Odaka
With influenced human assets and a wealthy average bounty, Myanmar is predicted to take off with sustained progress and at last reach a different welfare kingdom. at the foundation of the authors’ box surveys and innumerable dialogues with public officers, inner most execs, students, and others, as well as extensive table reviews for the reason that round 2000, the current quantity lays out the basic parts for drawing a roadmap to grasp the above-mentioned goal. That aim is, particularly, monetary improvement, sufficient social capital, indigenous glossy manufactures and nearer foreign tie-ups, between others, yet particularly, sound agrarian improvement. An attempt has been made to put the mandatory parts of their ancient contexts, as ancient reports represent a major sociopolitical within which improvement occurs. Myanmar nationals and readers interested in the country’s fiscal development are inspired to provide severe, sustained proposal to bobbing up with a socially supportable roadmap for the country's improvement direction. the current quantity offers necessary tricks for that purpose.
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Additional info for The Myanmar Economy: Its Past, Present and Prospects
Example text
Even as late as 1950, the economy had not recovered to its pre-war levels. While advances were made in capital formation, these gains were mostly the result of depleting foreign currency reserves, and the money was largely expended on building social infrastructure, such as construction of transportation networks and airport runways. : 29). In addition to state-run cotton spinning, pulp and steel factories, government services made up 10 % of GDP. Half of this was spent on military expenditures, while the other half was spent on public services such as education and medical care.
It seems desirable, however, to carefully analyse the method of estimation employed by Takamura and Mori (title unknown, 1984: 134), on which the above-cited figures are based. 22 K. Odaka market-economy principles. 54 The effect of the transformation from socialist to market economies was striking. At the beginning of the 1990s, the real GDP growth rate increased from 6 to 10 % per annum. Additionally, the contribution of the private sector to GDP rose from 69 % in the period 1986–1987 to 76 % in the period 1998–1999.
It was inconceivable, for instance, that exports from Burma would increase dramatically in the 1980s. While domestic demand for rice—Burma’s principal export prior to independence—was on the rise due to the increasing population, the international rice price fell rapidly. Moreover, Thailand and the United States came to be increasingly competitive players in the rice market. Meanwhile, the primary rice-importing countries in the Middle and Near East, and in Africa, were experiencing shortages in foreign reserves (op.