Financial development in Myanmar and the role of Japan

• Main Authors: Kikuchi, Tomoo, Masutomo, Takehiro
• Other Authors: S. Rajaratnam School of International Studies
• Format: Working Paper
• Language: English
• Published: 2019
• Subjects: Country and Region Studies; International Political Economy
• Online Access: https://hdl.handle.net/10356/104048; http://hdl.handle.net/10220/49495
• Institution: Nanyang Technological University

Since 2011, under the Thein Sein government, Myanmar has started to build financial institutions almost from scratch. Japan has played a leading role in this effort, writing off debt, opening the Yangon Stock Exchange, vying for the entry of Japanese banks, and laying out finance-related laws. Myanmar’s weak institutions present considerable challenges. By examining common features of financial markets in Southeast Asia, this paper identifies the preconditions for financial development to be a vehicle for Myanmar’s industrialisation as well as the rationale for Japan’s public and private involvement in Myanmar.