By Myat Thein
There are various very good experiences by means of eminent Myanmar economists in addition to students from in another country masking diversified post-war sessions and/or quite a few facets of improvement in Myanmar. What this e-book does is to deliver them altogether, because it have been, below one roof through recasting bits and items in their paintings in accordance with the author’s personal realizing. In doing so, a holistic method used to be followed which will have a well-rounded account of advancements over the last fifty years or extra. additionally, an try has additionally been made to give the most important advancements at varied sessions of time among 1948 and 2000 in an easy, yet now not over simplified, reader-friendly layout with the intention to achieve as broad an viewers as attainable. it's the author’s ardent want that not just scholars and policy-makers, yet Myanmar humans in all walks of lifestyles will learn the booklet, talk about it, and interact for a greater destiny.
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Additional info for Economic Development of Myanmar
Partly for this reason but more generally because of inefficient, muddled, and corrupt government and administration, even the joint ventures did not prove very successful in restoring production to pre-war levels. Spasmodic attempts were made to start new industries in the public sector — a jute mill, a cement factory, and a sugar factory were the most notable accomplishments — but by and large these did little to industrialize the country. Hardly any new large-scale industry, either public or private, was initiated.
2 Investment and Savings Remain Stunted, 1938–62 (As a percentage of GDP) 30% 25% 20% 15% 10% 5% Investment 1961/62 1960/61 1959/60 1958/59 1957/58 1956/57 1955/56 1954/55 1953/54 1952/53 1947/48 1938/39 0% Savings These were the government’s indecision and lack of clarity as to the role of state and that of the private sector, the lack of highly trained and skilled people in the administration and management of the economy, and the weakness in sector-wise economic policy, which emphasized industrial development to the neglect of the agricultural sector.
The pre-war level of GDP was reached only in 1956/57 and the level of GDP in 1961/62 was only twelve percentage points above that of 1938/39. As for per capita GDP, its level in 1961/62 was still fourteen percentage points below that of 1938/39. 1. The Two-Year Plan The Two-Year Plan, announced in April 1948, was the country’s first attempt at planning. Actually, it was not a full-fledged plan but merely a list of targets in physical terms considered achievable within the following two years. It was notable in that it listed a number of desirable industrial projects, which eventually came to be realized over a period of twelve years.