Myanmar´s Banking Crisis

Turnell, Sean

doi:10.1355/ae20-3f

Cited by 15 publications

(9 citation statements)

References 4 publications

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“…This banking crisis was symptomatic of the underdeveloped institutional infrastructure. The root problem was the depositors' weak confidence in banks, which was mainly a result of insufficient disclosure of banks' financial condition and weak supervisory capacity of the financial authorities (Turnell, 2003). In this environment, the collapse of pyramid-scheme informal companies triggered panicked withdrawals of deposits at the largest private bank.…”

Section: Figurementioning

confidence: 99%

Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government

Kubo

2013

Post-Communist Economies

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Despite more than two decades of transition from a centrally planned to a market-oriented economy, Myanmar's economic transition is still only partly complete. The government's initial strategy for dealing with the swelling deficits of the state economic enterprises (SEEs) was to put them under direct control in order to scrutinize their expenditures. This policy change postponed restructuring and exacerbated the soft budget constraint problem of the SEEs. While the installation of a new government in March 2011 has increased prospects for economic development, sustainable growth still requires full-scale structural reform of the SEEs and institutional infrastructure building. Myanmar can learn from the gradual approaches to economic transition in China and Vietnam, where partial reforms weakened further impetus for reforms. The Institute of Developing Economies (IDE) is a semigovernmental, nonpartisan, nonprofit research institute, founded in 1958. The Institute merged with the Japan External Trade Organization (JETRO) on July 1, 1998. The Institute conducts basic and comprehensive studies on economic and related affairs in all developing countries and regions, including Asia, the

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Section: Figurementioning

confidence: 99%

Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government

Kubo

2013

Post-Communist Economies

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“…The collapse of a group of informal finance companies in 2003 quickly escalated into the private banking sector; this caused withdrawal and transfer restrictions, the recalling of loans, a shortage and lack of liquidity of the kyat (MMK), and the interruption of card, cheque, and remittance payments(Turnell 2003).…”

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confidence: 99%

The governance of global value chains, the state, and small businesses: The case of timber in Myanmar

Rand¹,

Rodriguez²,

Tarp³

et al. 2019

WIDER Working Paper

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We use the case of the timber industry in Myanmar to analyse how national regulatory frameworks and international ecological discourses affect forest management and small businesses. The state plays two roles in the timber industry in Myanmar: it is the main producer and legal source of raw timber for the private sector; and it regulates timber extraction and the legality of operation of private sector firms. The state seeks a balance between forest conservation as a public policy objective and providing enough raw timber for the private sector. The implications of this for the private sector are twofold. The strict regulatory framework increases operational costs, as multiple licences and permits are required. And the state-controlled supply of raw materials results in inefficiencies, such as shortage and high raw timber prices. Under these conditions, the smallholder wood industry in Myanmar is at risk of stagnating at best, if not disappearing.

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“…This box primarily draws onTurnell 2003Turnell , 2009, as well as contemporary media reports.2 For example, the 2003 Economist magazine article "Kyatastrophe: A bank run in Myanmar" http://www.economist.com/node/1650080.©International Monetary Fund. Not for Redistribution…”

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confidence: 99%

Myanmar: Selected Issues

2018

IMF Staff Country Reports

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Myanmar´s Banking Crisis

Cited by 15 publications

References 4 publications

Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government

Myanmar's two decades of partial transition to a market economy: a negative legacy for the new government

The governance of global value chains, the state, and small businesses: The case of timber in Myanmar

Myanmar: Selected Issues

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