Fiscal Policy for Inclusive Growth. A Case Study of Myanmar
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 04
Abstract
Following decades of isolation under military rule, Myanmar initiated historic political reforms since 2011, but faces challenges translating liberalization into broad-based advancement. A dynamic stochastic general equilibrium modelling approach estimated on Myanmar data is used, with simulations quantifying potential growth and distributional impacts of strategic government expenditure reallocations towards infrastructure upgrading, agricultural investments, expanded social transfers and progressive tax reforms. Results indicate sustained infrastructure and rural productivity spending have high output multipliers while well-targeted transfers reduce income inequality. However, institutional absorptive capacities condition realization of social returns. Complementary governance enhancements like project oversight and competitiveness in public investment allocation prove vital. Regional peer benchmarking provides comparative lessons. Altogether, evidence-based fiscal reorientation towards addressing pressing human capital, rural-urban and firm competitiveness constraints can accelerate inclusive growth in Myanmar if pursued prudently. Sustainable expansion requires strengthening public financial management (PFM) systems and results monitoring
Authors and Affiliations
Fan Zuojun, Tin Zar Zar Lynn
Keywords
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- EP ID EP733902
- DOI 10.47191/jefms/v7-i4-18
- Views 42
- Downloads 0
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