Back Matter
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund

Abstract

Mauritius has achieved remarkable success since its independence in 1968. It has one of the highest per capita GDPs in Africa, the economy has diversified from complete dependence on the sugar crop, into textiles, then tourism, and recently information and communication services. This paper examines the factors that have contributed to this impressive growth, including macroeconomic stability, a solid institutional framework, political stability, an efficient administration, a favorable regulatory framework, and a well-developed financial system, and outlines the challenges that remain to ensure continued sustainable growth in Mauritius.

References

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    • Search Google Scholar
    • Export Citation
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  • Banerjee, Abhijit, and Lakshmi Iyer, 2002, “History, Institutions and Economic Performance: The Legacy of the Colonial Land Tenure System in India” (unpublished; Cambridge, Massachusets: MIT).

    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
  • Hall, Robert E., and Charles I. Jones, 1999, “Why Do Some Countries Produce So Much More Output Than Others?Quarterly Journal of Economics, Vol. 114, No. 1, pp. 83116.

    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Export Citation
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    • Search Google Scholar
    • Export Citation
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    • Export Citation
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    • Search Google Scholar
    • Export Citation
  • Porter, Nathan, and James Yao, 2004, “Inflation Targeting in a Small Open Economy: The Case of Mauritius” (unpublished; Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Rodrik, Dani, 1999a, The New Global Economy and Developing Countries: Making Openness Work (London: Overseas Development Council).

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    • Search Google Scholar
    • Export Citation
  • Rodrik, Dani, Arvind Subramanian, and Francesco Trebbi, 2002, “Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development,” IMF Working Paper 02/189 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Rumbaugh, Thomas, and Nicholas Blancher 2004, “China: International Trade and WTO Accession,” IMF Working Paper 04/36 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, 2003, “Institutions Don’t Rule: A Refutation of Institutional Fundamentalism,” NBER Working Paper No. 9490 (Cambridge, Massachusetts: National Bureau of Economic Research).

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, and Warner, Andrew 1995, “Economic Reform and the Process of Global Integration,” Brookings Papers on Economic Activity, 1, pp. 195.

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, 1997, “Sources of Slow Growth in African Economies,” Journal of African Economies, Vol. 6, pp. 33576.

  • Schaechter, Andrea, Mark Stone, and Mark Zelmer 2000, Adopting Inflation Targeting: Practical Issues for Emerging Market Countries, IMF Occasional Paper No 202 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Stone, Mark, 2003, “Inflation Targeting Lite,” IMF Working Paper 03/12 (Washington: International Monetary Fund).

  • Subramanian, Arvind, and others, 2000, Trade and Trade Policies in Eastern and Southern Africa, IMF Occasional Paper No. 196 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Subramanian, Arvind, and Devesh Roy, 2001, “Who Can Explain the Mauritian Miracle: Meade, Romer, Sachs, or Rodrik?IMF Working Paper 01/116 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
Challenges of Sustained Growth
  • Acemoglu, D., S. Johnson, and J.A. Robinson, 2001, “The Colonial Origins of Comparative Development: An Empirical Investigation,” American Economic Review, Vol. 91, pp. 13691401.

    • Search Google Scholar
    • Export Citation
  • Ball, Laurence, 1998, “Policy Rules for Open Economies,” Research Discussion Paper No. 9806 (Sidney: Reserve Bank of Australia).

  • Banerjee, Abhijit, and Lakshmi Iyer, 2002, “History, Institutions and Economic Performance: The Legacy of the Colonial Land Tenure System in India” (unpublished; Cambridge, Massachusets: MIT).

    • Search Google Scholar
    • Export Citation
  • Barro, Robert, and Jong-Wah Lee, 2000, “International Data on Educational Attainment, Updates and Implications,” NBER Working Paper No. 7911 (Cambridge, Massachusets: National Bureau of Economic Research).

    • Search Google Scholar
    • Export Citation
  • Bosworth, Barry, and Susan Collins, 2003, “The Empirics of Growth: An Update” (unpublished; Washington: Brookings Institution).

  • Cohen, Daniel, and Marcelo Soto, 2001,” Growth and Human Capital: Good Data, Good Results,” Technical Paper No. 179 (Paris: Organisation for Cooperation and Development).

    • Search Google Scholar
    • Export Citation
  • Craig, Peter, and Paul Ryberg, eds., 2004, Mauritius-U.S. Trade Bulletin, Vol. 10, No. 3 (April).

  • Easterly, William, 2002, “Inequality Does Cause Underdevelopment: New Evidence,” Center for Global Development Working Paper No. 1 (Washington: Center for Global Development).

    • Search Google Scholar
    • Export Citation
  • Easterly, William, 2003, “Tropics, Germs and Crops: How Endowment Influence Economic Development,” Journal of Monetary Economics, Vol. 50 (January), pp. 339.

    • Search Google Scholar
    • Export Citation
  • Ebrill, Liam, and others, 2001, The Modern VAT (Washington: International Monetary Fund).

  • Gulhati, R, and R. Nallari, 1990, “Successful Stabilization and Recovery in Mauritius,” EDI Development Policy Case Series (World Bank).

    • Search Google Scholar
    • Export Citation
  • Hall, Robert E., and Charles I. Jones, 1999, “Why Do Some Countries Produce So Much More Output Than Others?Quarterly Journal of Economics, Vol. 114, No. 1, pp. 83116.

    • Search Google Scholar
    • Export Citation
  • Herrmann, Roland, and Dietmar Weiss, 1995, “A Welfare Analysis of the ECACP Sugar Protocol,” Journal of Development Studies, Vol. 31, No. 6, pp. 91841.

    • Search Google Scholar
    • Export Citation
  • Hinkle, Larry, and A. Herrou Aragon, 2001, “How Far Did Africa’s First Generation Trade Reforms Go?” (unpublished; Washington: World Bank).

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, 2003a, Mauritius, Staff Report for 2003 Article IV Consultation, IMF Country Report 03/319 (Washington).

  • International Monetary Fund, 2003b, Mauritius, Financial System Stability Assessment, IMF Country Report No.03/321 (Washington).

  • International Monetary Fund, 2003c, “Growth and Institutions,” Chapter III in World Economic Outlook, April (Washington).

  • International Monetary Fund, World Bank, 2002, “Market Access of Developing Country Exports—Selected Issues,” September (Washington).

    • Search Google Scholar
    • Export Citation
  • Jaggers, K, and T.R. Gurr, 1995, “Tracking Democracy’s Third Wave with Polity III Data,” Journal of Peace Research, Vol. 32, pp. 46982.

    • Search Google Scholar
    • Export Citation
  • Johansen, Soren, 1988, “Statistical Analysis of Cointegration Vectors,” Journal of Economic Dynamics and Control, Vol. 12, pp. 23154.

    • Search Google Scholar
    • Export Citation
  • Johansen, Soren, 1991, “Estimation and Hypothesis Testing of Cointegrating Vectors in Gaussian Vector Autoregressive Models,” Econometrica, Vol. 59 (November), pp. 155180.

    • Search Google Scholar
    • Export Citation
  • Johansen, Soren, 1992, “Testing Weak Exogeneity and the Order of Cointegration in UK Money Demand Data,” Journal of Policy Modeling, Vol. 14 (June), pp. 31334.

    • Search Google Scholar
    • Export Citation
  • Johansen, Soren, and Katarina Juselius, 1990, “Maximum Likelihood Estimation and Inference on Cointegration—With Application to the Demand for Money,” Oxford Bulletin of Economics and Statistics, Vol. 52 (May), pp. 169210.

    • Search Google Scholar
    • Export Citation
  • Kaufmann, Daniel, Aart Kraay, and Pablo Zoido-Lobaton, 1999, “Aggregating Governance Indicators,” World Bank Policy Research Working Paper No. 2195 (Washington: World Bank).

    • Search Google Scholar
    • Export Citation
  • McDonald, Calvin, and James Yao, 2003, “Mauritius: Unemployment and the Role of Institutions,” IMF Working Paper 03/211 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Milner, C., and A. McKay 1996, “Real Exchange Measures of Trade Liberalization: Some Evidence for Mauritius,” Journal of African Economies, Vol. 5, No. 1, pp. 6991.

    • Search Google Scholar
    • Export Citation
  • Porter, Nathan, and James Yao, 2004, “Inflation Targeting in a Small Open Economy: The Case of Mauritius” (unpublished; Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Rodrik, Dani, 1999a, The New Global Economy and Developing Countries: Making Openness Work (London: Overseas Development Council).

  • Rodrik, Dani, 1999b, “Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses,” Journal of Economic Growth, Vol. 4, pp. 385412.

    • Search Google Scholar
    • Export Citation
  • Rodrik, Dani, Arvind Subramanian, and Francesco Trebbi, 2002, “Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development,” IMF Working Paper 02/189 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Rumbaugh, Thomas, and Nicholas Blancher 2004, “China: International Trade and WTO Accession,” IMF Working Paper 04/36 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, 2003, “Institutions Don’t Rule: A Refutation of Institutional Fundamentalism,” NBER Working Paper No. 9490 (Cambridge, Massachusetts: National Bureau of Economic Research).

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, and Warner, Andrew 1995, “Economic Reform and the Process of Global Integration,” Brookings Papers on Economic Activity, 1, pp. 195.

    • Search Google Scholar
    • Export Citation
  • Sachs, Jeffrey, 1997, “Sources of Slow Growth in African Economies,” Journal of African Economies, Vol. 6, pp. 33576.

  • Schaechter, Andrea, Mark Stone, and Mark Zelmer 2000, Adopting Inflation Targeting: Practical Issues for Emerging Market Countries, IMF Occasional Paper No 202 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Stone, Mark, 2003, “Inflation Targeting Lite,” IMF Working Paper 03/12 (Washington: International Monetary Fund).

  • Subramanian, Arvind, and others, 2000, Trade and Trade Policies in Eastern and Southern Africa, IMF Occasional Paper No. 196 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation
  • Subramanian, Arvind, and Devesh Roy, 2001, “Who Can Explain the Mauritian Miracle: Meade, Romer, Sachs, or Rodrik?IMF Working Paper 01/116 (Washington: International Monetary Fund).

    • Search Google Scholar
    • Export Citation