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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.

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Myanmar at a crossroad

OECD Development Centre

The following chapter provides an overview of the development opportunities and challenges facing Myanmar, framed in terms of the four capital stocks – physical, human, institutional and social – which underpin development. The discussion begins with an assessment of Myanmar’s assets, notably its fertile land, natural resources, rich cultural heritage, abundant labour and strategic geographical location. It then examines the key challenges the country faces to ignite growth that is both sustainable and equitable and looks at factors determining the longterm potential of the economy, such as demographics. The chapter closes with an analysis of well-being in Myanmar, drawing on the OECD How’s Life? framework, and compares indicators of well-being for Myanmar over time and in relation to other countries in the region or at similar levels of economic development.

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