Contents
Abstract
Acknowledgments
Introduction: Anatomy of the Mauritian Miracle
The Growth Story
A well-managed economic regime
A very successful economic trajectory
Favorable international comparisons
The role of total factor productivity
Structural transformation
Improvement in human development indicators
Macroeconomic Management
Prudent, proactive fiscal policy
Monetary policy as an anchor for economic growth
Effective response to economic shocks
Dynamic Institutions and Adaptability to Change
The importance of forging consensus
The nexus between the public and private sectors
A Tale of Three Sectors: Sugar, EPZs, and Tourism
The sugar sector
Import substitution industrialization and restrictive trade policies following the colonial period
The rise of EPZs in the 1970s and 1980s
Post-EPZ economic drivers: tourism, business process outsourcing, and financial services
Business Climate and Investment
Business climate improvement in recent years
The role of foreign direct investment
The Economic Future of Mauritius
References