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Myanmar experienced a decade of reforms from 2011 to 2021 under the administrations of the Union Solidarity and Development Party (USDP) and the National League for Democracy (NLD). But policymakers in both administrations were often ill-prepared to push the economy to its potential, and they were hindered by a lack of resources and beset by obstacles at every turn. Challenges have persisted into the efforts of the current State Administration Council (SAC) military regime to administer the country after the 2021 coup.

Obstacles include bureaucratic inertia resisting reforms; lack...

Myanmar’s economic trajectory has shifted across various governmental regimes, transitioning from socialist to democratic systems and from planned to market economy structures.

The economic policies implemented by successive governments often lacked coherence and were characterized by ad hoc measures aimed at short-term solutions rather than addressing underlying issues.

Policymakers since 1989 have endeavoured to guide Myanmar towards a market-oriented economy, characterized by what could be termed the “Burmese/Myanmar Way to Market Economy”, which includes...