Mauritius: The Drivers of Growth – Can the Past Be Extended?
Mauritius’s economic performance since its independence has been called “the Mauritian miracle” and the “success of Africa” (Romer, 1992; Frankel, 2010; Stiglitz, 2011). However, the future growth potential is more uncertain. In this paper, we use growth accounting to analyze the sources of past gro...
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University of Warsaw
2017-08-01
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| Series: | Journal of Banking and Financial Economics |
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| Online Access: | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1062&context=jbfe |
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| author | Katsiaryna Svirydzenka Martin Petri |
| author_facet | Katsiaryna Svirydzenka Martin Petri |
| author_sort | Katsiaryna Svirydzenka |
| collection | DOAJ |
| description | Mauritius’s economic performance since its independence has been called “the Mauritian miracle” and the “success of Africa” (Romer, 1992; Frankel, 2010; Stiglitz, 2011). However, the future growth potential is more uncertain. In this paper, we use growth accounting to analyze the sources of past growth and project potential ranges of future growth through 2033 under various policies. Growth averaged 4½ percent over the past 20 years. Our baseline suggests future growth rates around 3¼ percent, but growth could reach 4–5 percent with strong pro-active policies including (i) improving investment and savings rates; (ii) improving the efficiency of social spending and public enterprise reforms; (iii) investment in education and education reforms; (iii) labor market reforms; and (iv) further measures to reduce bottlenecks and increase productivity. With policies capable of generating 5 percent growth, Mauritius could reach high-income status in 2021, 4 years earlier than under the baseline. |
| format | Article |
| id | doaj-art-3e81e4976afc44c9a672dde8d78d9a66 |
| institution | Kabale University |
| issn | 2353-6845 |
| language | English |
| publishDate | 2017-08-01 |
| publisher | University of Warsaw |
| record_format | Article |
| series | Journal of Banking and Financial Economics |
| spelling | doaj-art-3e81e4976afc44c9a672dde8d78d9a662025-01-03T00:54:43ZengUniversity of WarsawJournal of Banking and Financial Economics2353-68452017-08-0120172548310.7172/2353-6845.jbfe.2017.2.3Mauritius: The Drivers of Growth – Can the Past Be Extended?Katsiaryna Svirydzenka0 Martin Petri1International Monetary FundInternational Monetary Fund Mauritius’s economic performance since its independence has been called “the Mauritian miracle” and the “success of Africa” (Romer, 1992; Frankel, 2010; Stiglitz, 2011). However, the future growth potential is more uncertain. In this paper, we use growth accounting to analyze the sources of past growth and project potential ranges of future growth through 2033 under various policies. Growth averaged 4½ percent over the past 20 years. Our baseline suggests future growth rates around 3¼ percent, but growth could reach 4–5 percent with strong pro-active policies including (i) improving investment and savings rates; (ii) improving the efficiency of social spending and public enterprise reforms; (iii) investment in education and education reforms; (iii) labor market reforms; and (iv) further measures to reduce bottlenecks and increase productivity. With policies capable of generating 5 percent growth, Mauritius could reach high-income status in 2021, 4 years earlier than under the baseline.https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1062&context=jbfegrowthmauritiusgrowth accounting |
| spellingShingle | Katsiaryna Svirydzenka Martin Petri Mauritius: The Drivers of Growth – Can the Past Be Extended? Journal of Banking and Financial Economics growth mauritius growth accounting |
| title | Mauritius: The Drivers of Growth – Can the Past Be Extended? |
| title_full | Mauritius: The Drivers of Growth – Can the Past Be Extended? |
| title_fullStr | Mauritius: The Drivers of Growth – Can the Past Be Extended? |
| title_full_unstemmed | Mauritius: The Drivers of Growth – Can the Past Be Extended? |
| title_short | Mauritius: The Drivers of Growth – Can the Past Be Extended? |
| title_sort | mauritius the drivers of growth can the past be extended |
| topic | growth mauritius growth accounting |
| url | https://press.wz.uw.edu.pl/cgi/viewcontent.cgi?article=1062&context=jbfe |
| work_keys_str_mv | AT katsiarynasvirydzenka mauritiusthedriversofgrowthcanthepastbeextended AT martinpetri mauritiusthedriversofgrowthcanthepastbeextended |