Trade policies and trade mis-reporting in Myanmar

While the trade statistics of Myanmar show surpluses for 2007 through 2010, the corresponding statistics of trade partner countries indicate deficits. Such discrepancies in mirror trade statistics are analyzed in connection with the ‘export-first and import-second’ policy provisioning import permissions on permission applicants possessing a sufficient amount of the export-tax-deducted export earnings. Under this policy, the recorded imports and exports of the private sector have been maintaining equilibrium, whereas discrepancies in the mirror statistics have fluctuated. This suggests that traders adjusted mis-reporting in accordance with the supply and demand of the export earnings.Myanmar, Trade policy, Trade problem, Trade Policies, Mis-invoicing, Smuggling

Apparently noninvariant terms of U(N)×U(N)U(N)\times U(N) nonlinear sigma model in the one-loop approximation

We show how the Apparently Noninvariant Terms (ANTs), which emerge in perturbation theory of nonlinear sigma models, are consistent with the nonlinearly realized symmetry by employing the Ward-Takahashi identity (in the form of an inhomogeneous Zinn-Justin equation). In the literature the discussions on ANTs are confined to the SU(2) case. We generalize them to the U(N) case and demonstrate explicitly at the one-loop level that despite the presence of divergent ANTs in the effective action of the "pions", the symmetry is preserved.Comment: two paragraphs added in Introduction, typos in Eqs. fixe

Smuggling and import duties in Myanmar

This paper examines the effects of import duties on smuggling in Myanmar. Following Fisman and Wei (2004), the reporting discrepancies between Myanmar’s imports records and corresponding exports recorded by trading partners are regarded as indicative of smuggling. The paper studies whether reporting discrepancies differ across trading partners as well as across time. Our main findings are first, that the hike in import duties in June 2004 helped to widen the reporting discrepancies, which suggests smuggling for tax evasion purposes and second, that reporting discrepancies differ considerably across trading partners: land borders appear to be particularly attractive venues for smugglers.Myanmar, Imports, Tariff, Smuggling, Myanmar (Burma), Tax evasion, Border trade

More about the Wilsonian analysis on the pionless NEFT

We extend our Wilsonian renormalization group (RG) analysis on the pionless nuclear effective theory (NEFT) in the two-nucleon sector in two ways; on the one hand, (1) we enlarge the space of operators up to including those of $\mathcal{O}(p^4)$ in the $S$ waves, and, on the other hand, (2) we consider the RG flows in higher partial waves ($P$ and $D$ waves). In the larger space calculations, we find, in addition to nontrivial fixed points, two ``fixed lines'' and a ``fixed surface'' which are related to marginal operators. In the higher partial wave calculations, we find similar phase structures to that of the $S$ waves, but there are \textit{two} relevant directions in the $P$ waves at the nontrivial fixed points and \textit{three} in the $D$ waves. We explain the physical meaning of the $P$-wave phase structure by explicitly calculating the low-energy scattering amplitude. We also discuss the relation between the Legendre flow equation which we employ and the RG equation by Birse, McGovern, and Richardson, and possible implementation of Power Divergence Subtraction (PDS) in higher partial waves.Comment: 39 pages, 5 figures, the final versio

Myanmar\u27s two decades of partial transition to a market economy : a negative legacy for the new government

Despite more than two decades of transition from a centrally planned to a market-oriented economy, Myanmar’s economic transition is still only partly complete. The government’s initial strategy for dealing with the swelling deficits of the state economic enterprises (SEEs) was to put them under direct control in order to scrutinize their expenditures. This policy change postponed restructuring and exacerbated the soft budget constraint problem of the SEEs. While the installation of a new government in March 2011 has increased prospects for economic development, sustainable growth still requires full-scale structural reform of the SEEs and institutional infrastructure building. Myanmar can learn from the gradual approaches to economic transition in China and Vietnam, where partial reforms weakened further impetus for reforms

Real exchange rate appreciation, resource boom, and policy reform in Myanmar

In the five-year period from 2006 to 2011, the real exchange rate of the Myanmar kyat appreciated 200 percent, signifying that the value of the US dollar in Myanmar diminished to one third of its previous level. While the resource boom is suspected as a source of the real exchange rate appreciation, its aggravation is related to administrative controls on foreign exchange and imports. First, foreign exchange controls prevented replacement of the negotiated transactions of foreign exchange with the bank intermediation. This hampered government interventions in the market. Second, import controls repressed imports, aggravating excess supply of foreign exchange. Relaxation of administrative controls is necessary for moderating currency appreciation

Trade policies and trade mis-reporting in Myanmar

While the trade statistics of Myanmar show surpluses for 2007 through 2010, the corresponding statistics of trade partner countries indicate deficits. Such discrepancies in mirror trade statistics are analyzed in connection with the ‘export-first and import-second’ policy provisioning import permissions on permission applicants possessing a sufficient amount of the export-tax-deducted export earnings. Under this policy, the recorded imports and exports of the private sector have been maintaining equilibrium, whereas discrepancies in the mirror statistics have fluctuated. This suggests that traders adjusted mis-reporting in accordance with the supply and demand of the export earnings

The Degree of Competition in the Thai Banking Industry before and after the East Asian Crisis

This paper analyzes the influence of the East Asian crisis and the subsequent reforms on the oligopolistic nature of the Thai banking industry. Since the crisis, there have been substantial changes in competitive environment, including a decline in the family ownership of banks as well as the arrival of new entrants. How did these changes affect a banking industry in which the six largest local banks accounted for over 70 percent of market share? The estimated Lerner index from Bresnahan\u27s [1989] conjectural variation model indicates the possibility of a decline in the degree of competition