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Mauritius : the drivers of growth - can the past be extended?

Author: Katsiaryna Svirydzenka; Martin Petri; International Monetary Fund. African Department.
Publisher: [Washington, D.C.] : International Monetary Fund, ©2014.
Series: IMF working paper, WP/14/134.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
"Mauritius's economic performance has been called "the Mauritian miracle" and the "success of Africa" (Romer, 1992; Frankel, 2010; Stiglitz, 2011), despite difficult initial conditions that led a Nobel Prize Winner in economics to predict stagnation (Meade, 1961). We use growth accounting to analyze the sources of past growth and project potential ranges of growth through 2033. Growth averaged 4 1/2 percent over the  Read more...
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Details

Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Katsiaryna Svirydzenka; Martin Petri; International Monetary Fund. African Department.
OCLC Number: 884521558
Notes: "African Department"--Page 2 of pdf.
"July 2014"--Page 2 of pdf.
Description: 1 online resource (41 pages) : color illustrations.
Series Title: IMF working paper, WP/14/134.
Responsibility: Katsiaryna Svirydzenka, Martin Petri.

Abstract:

"Mauritius's economic performance has been called "the Mauritian miracle" and the "success of Africa" (Romer, 1992; Frankel, 2010; Stiglitz, 2011), despite difficult initial conditions that led a Nobel Prize Winner in economics to predict stagnation (Meade, 1961). We use growth accounting to analyze the sources of past growth and project potential ranges of growth through 2033. Growth averaged 4 1/2 percent over the past 20 years. Our baseline suggests future growth rates around 3 1/4 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"--Abstract.

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