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Can the Mauritian Miracle continue? - The role of financial and ICT services as prospective growth drivers

  • Arielle Joseph
  • Bernhard Troester
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    This paper presents the prospective sectors for further economic growth in Mauritius. We approach this by firstly tracing the historical development of Mauritius and providing explanations for the growth experienced. This is used as the basis for the analysis of the country’s current economic situation from which we infer that future growth may not be as promising as the historical growth path, thereby, implying that there may be a real threat of the ‘middle income trap’. However, through the analysis of the current situation two potential strategic growth sectors are identified: financial intermediation and information and communications technology. These two sectors are presented with their main components and their present and prospective contribution to economic growth in Mauritius is explored. Our conclusion from the discussion presented is that, although, the growth prospects are clear for the two identified sectors, their impact might be limited and the hindrance to further economic growth may extend beyond these two strategic sectors. Ultimately, it is the continued current account deficit and key structural problems which can severely impact the sustainable growth of the island state.

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    File URL: http://finance-and-trade.htw-berlin.de/fileadmin/working_paper_series/wp_01_2013_Joseph_Troester_Can_the_Mauritian_Miracle_continue.pdf
    File Function: First version, 2013
    Download Restriction: no

    Paper provided by Hochschule fuer Technik und Wirtschaft, Berlin in its series Competence Centre on Money, Trade, Finance and Development with number 1301.

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    Length: 105 pages
    Date of creation: Apr 2013
    Date of revision:
    Publication status: Published in Berlin Working Papers on Money, Finance, Trade and Development, April 2013
    Handle: RePEc:mtf:wpaper:1301
    Contact details of provider: Web page: http://finance-and-trade.htw-berlin.de

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    1. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2011. "When Fast Growing Economies Slow Down: International Evidence and Implications for China," NBER Working Papers 16919, National Bureau of Economic Research, Inc.
    2. Rodrik, Dani & Subramanian, Arvind & Trebbi, Francesco, 2002. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," CEPR Discussion Papers 3643, C.E.P.R. Discussion Papers.
    3. Esther C. Suss & Oral Williams & Chandima Mendis, 2002. "Caribbean offshore Financial Centers; Past, Present, and Possibilities for the Future," IMF Working Papers 02/88, International Monetary Fund.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2000. "The Colonial Origins of Comparative Development: An Empirical Investigation," NBER Working Papers 7771, National Bureau of Economic Research, Inc.
    5. Jeffrey Sachs & Andrew Warner, 1995. "Economic Reform and the Progress of Global Integration," Harvard Institute of Economic Research Working Papers 1733, Harvard - Institute of Economic Research.
    6. Sanjeev Sobhee, 2009. "The economic success of Mauritius: lessons and policy options for Africa," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 12(1), pages 29-42.
    7. Sanjeev Sobhee, 2009. "The economic success of Mauritius: lessons and policy options for Africa," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 12(1), pages 29-42.
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