Emerging Myanmar—From Regime to Reforms

• Main Author: Piotr Rubaj
• Format: Article
• Language: English
• Published: HATASO 2019-12-01
• Series: Management and Economics Research Journal
• Subjects: myanmar; emerging markets; asean
• Online Access: https://merj.scholasticahq.com/article/11179-emerging-myanmar-from-regime-to-reforms
• ISSN: 2469-4339; 2469-4339

During decades of isolation beginning from 1962 and lasting till 2011, Myanmar seriously suffered from international sanctions. Ruled by the military regime, the country was doomed to economic and social failure. Studying the process of its transformation seems to be very interesting both from business and scientific points of view, and this is the main purpose of the paper. The literature and information about Myanmar's reforms are considerably limited and it is deeply justified to contribute to the knowledge on this fast emerging country. The methodology used in this article is based on the analysis of the existing statistical data, coming from international reports and statistic yearbooks. The basic parameters of these analyses concern macroeconomic and social indicators. Comparisons with The Association of Southeast Asian Nations (ASEAN) countries are critical for the conclusions drawn in this article. On its way to the formation of a democratic society Myanmar faced a lot of problems. Some of them, such as the unsolved Rohingya refugee crisis, have had a bad effect not only on domestic reforms, but also a global effect, sometimes recognized as an international crisis. For business, Myanmar is one of the fastest growing economy in the world with a population of 51 million, which makes it an attractive market. The GDP per capita in Myanmar is low, so the domestic market guarantees a growing demand.