Multi-dimensional Review of Myanmar

Volume 1. Initial Assessment

image of Multi-dimensional Review of Myanmar

This volume is the first of the OECD Development Pathways, a new series that looks at multiple development objectives beyond an exclusive focus on growth. The series starts with Myanmar, a country to be covered for the first time by the OECD. This initial assessment shows that Myanmar’s success in achieving stable and sustainable growth will depend vitally on its ability to develop the institutional and social capital necessary to maintain macroeconomic and financial stability, to ensure the rule of law, to achieve environmentally sustainable development and to create an enabling environment for the private sector. To be sustainable, growth also needs to be more equitable and inclusive. Seizing the momentum created by the country’s opening and internal peace process will be imperative. Moreover, Myanmar’s increasing population provides a demographic dividend which needs to be reaped in the next couple of decades to boost the potential of the economy. After that, the population will begin ageing and Myanmar risks getting old before the incomes and living standards of its people can significantly improve.



Achieving stable and sustainable development

OECD Development Centre

This chapter discusses the policies being undertaken by Myanmar which aim to achieve stable and sustainable development and identifies issues for further attention, particularly in relation to building up institutional capital. It focuses on four priority areas: establishing sound frameworks for macroeconomic and financial stability; strengthening the rule of law; achieving environmentally sustainable development; and creating a level playing field for the private sector. The section on macroeconomic stability examines the country’s financial sector and frameworks for monetary, exchange rate and fiscal policies. The discussion on the rule of law assesses the reforms and legislative changes underway as well as the progress made in strengthening voice, accountability and transparency. Next, the degradation of Myanmar’s natural resources, the sources of pressure on these resources and the country’s legal framework and institutions for environmental policy are discussed. The section on private sector initiatives describes the characteristics of Myanmar’s business sector before turning to examine the legal and regulatory frameworks governing private initiatives. The chapter ends with an examination of Myanmar’s human and physical capital stocks.



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