TY - BOOK ID - 84658664 TI - Mauritius The Drivers of Growth—Can the Past be Extended? AU - Svirydzenka, Katsiaryna. AU - Petri, Martin. PY - 2014 SN - 1498311547 1498397212 1498314864 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Africa -- Economic policy. KW - Africa -- Fiscal policy. KW - International monetary fund -- Africa. KW - Investments: General KW - Labor KW - Macroeconomics KW - Production and Operations Management KW - Economic Development, Innovation, Technological Change, and Growth KW - Production KW - Cost KW - Capital and Total Factor Productivity KW - Capacity KW - Human Capital KW - Skills KW - Occupational Choice KW - Labor Productivity KW - Labor Economics: General KW - Labor Force and Employment, Size, and Structure KW - Investment KW - Capital KW - Intangible Capital KW - Labour KW - income economics KW - Total factor productivity KW - Human capital KW - Labor force KW - Depreciation KW - National accounts KW - Industrial productivity KW - Labor economics KW - Labor market KW - Saving and investment KW - Mauritius UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658664 AB - 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 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. ER -