This account and analysis of economic development in Burma since 1962 sheds light on the economics of socialism in a very poor inward-looking economy especially after the mid-1970s. The study examines the evolution of development planning, recent macroeconomic developments, and the composition, pattern and direction of foreign trade, including the balance of payments and external debt. It also analyses the principal economic sectors, especially agriculture and industry, and gives a brief assessment of social developments and future prospects.

For many years Myanmar operated an inward-looking economic system built on import substitution. Ultimately this policy failed, leaving behind inefficient state economic enterprises and widespread poverty. Political unrest in 1988 led a newly installed military government to liberalize the economy, opening it to foreign investment and private participation in trade. This move towards a market economy was in line with world-wide trends, but political instability forced the country to follow a course different from neighboring countries. By analyzing economic policies and performance across the economic spectrum, this book presents an overall picture of economic development in Myanmar between 1988 and the early 2000s. The authors synthesize both macro and micro level data to overcome some of the limitations of unreliable national statistics, and show how the government attempted to deal with two key issues it faced. The first was how to reform the inefficient socialistic economic system in conformity with a market economy, and the second was how to develop the agricultural and underdeveloped economy to alleviate mass poverty.

This analysis puts into focus the crippling effects of the inward-looking, bureaucratic regime that grew to Kafkaesque dimensions, starting in the early 1950s. It provides a coherent and convincing rationale for the economic reforms begun in June 1991 by the new government of Prime Minister Rao. These reforms, also discussed, are thus set into historical and analytical perspective

First published in 1984, Michael Beenstock develops in The World Economy in Transition an original, stimulating and accessible analysis of the world economy in its many aspects, and this second edition includes a chapter on the International Banking Crisis in line with the author’s Transition Theory. The book embraces numerous strands of economic debate as the author provides a powerful and original thesis which focuses on the changing economic relationship between developed and developing nations as well as between manufacturing and primary producing sectors. The analysis also extends to international trade, commodity markets, international finance, energy and economic history. The book discusses, in addition to Transition Theory, other global approaches to the subject, including technology diffusion, long waves, commodity price effects and the oil price hikes, and the insights of Transition Theory are also applied to the historical experience of the British economy, concluding with an evaluation of policy implications.

This book explores the economic and social development of the Western Balkan region, a group of six countries that are potential candidates for EU membership. It focuses on the key economic issues facing these countries, including the challenge of promoting economic growth, limiting public deficits and debt, and fostering international trade relations. Given the severe impact of the recent economic crisis on social welfare in the region, it also investigates the nature and extent of social exclusion, a factor likely to produce future political instabilities if not effectively addressed by a return to sustainable economic growth. The contributions explore these issues in light of the major influence of EU policy instruments and advice, which are currently guiding the economies along an accession trajectory to future EU membership.