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

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  • Arielle Joseph
  • Bernhard Troester

Abstract

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.

Suggested Citation

  • Arielle Joseph & Bernhard Troester, 2013. "Can the Mauritian Miracle continue? - The role of financial and ICT services as prospective growth drivers," Competence Centre on Money, Trade, Finance and Development 1301, Hochschule fuer Technik und Wirtschaft, Berlin.
  • Handle: RePEc:mtf:wpaper:1301
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    File URL: http://finance-and-trade.htw-berlin.de/fileadmin/HTW/Forschung/Money_Finance_Trade_Development/working_paper_series/wp_01_2013_Joseph_Troester_Can_the_Mauritian_Miracle_continue.pdf
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    References listed on IDEAS

    as
    1. Barry Eichengreen & Donghyun Park & Kwanho Shin, 2012. "When Fast-Growing Economies Slow Down: International Evidence and Implications for China," Asian Economic Papers, MIT Press, vol. 11(1), pages 42-87, Winter/Sp.
    2. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, June.
    3. 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.
    4. 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.
    5. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    6. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    7. 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.
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    Keywords

    working paper; daadpartnership; finance-and-trade;

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