ABSTRACT
Since 1988, various economic policies in Myanmar have claimed to support economic reintegration with the global economy and capitalist development, but these formal policies have been less significant in shaping economic development than contextual factors, including geopolitical isolation, domestic economic interests, and institutional weakness and inconsistency in economic management and policy implementation. Economic development and integration were stunted and incomplete, while military-controlled firms and private-sector conglomerates gained power over key economic sectors under the patronage of a military-led government. Political and economic reforms from 2011 enabled a partial reintegration into global trade, production, and investment networks, but these processes were ruptured in 2021 by a military-led coup. Aside from the violence and political destabilisation that accompanied the coup, its impact has been nothing short of devastating for the functioning and sustainability of various economic sectors, the prospects for economic growth and development, and ultimately, the welfare and livelihoods of the people of Myanmar. Indeed, despite claiming to support some elements of policy continuity on economic matters, rule by the State Administrative Council has pushed Myanmar towards renewed international economic and political isolation, military domination over lucrative economic sectors, and the general impoverishment of its people.
