Title Mauritius : a Competitiveness Assessment

Published Washington : International Monetary Fund, Sept. 2008

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Description 1 online resource (57 pages) Series IMF Working Papers IMF Working Papers Contents I. Introduction; II. The Evolution of the Exchange Rate in Mauritius; List of Figures; 1. Exchange Rate Regimes and the Nominal Exchange Rate, 1948-2007; 2. Nominal and Real Effective Exchange Rates, 1980-2007; III. Empirical Analysis of the Equilibrium Exchange Rate; 3. Price-based Real Effective Exchange Rate Indices, 1980-2006; A. Macroeconomic Balance Approach (FEER-MB); 4. FEER-MB Approach: Actual and Fitted CA balance; B. Single-Equation Fundamental Equilibrium Exchange Rate Approach (FEER-SE); 5. FEER-MB Approach: CA Norms vs. Underlying CA C. Capital-Enhanced Equilibrium Exchange Rate Approach (CHEER)6. FEER-SE Approach: Actual vs. Equilibrium REER; 7. CHEER Approach: Actual vs. Equilibrium NER; D. External Sustainability Approach (ES); IV. Structural Competitiveness Analysis; 8. Composite Indicators of Structural Competitiveness; 9. Relative Performance on Trade Costs; V. Conclusions; References; Appendix: List of Tables; 1. Summary Statistics for FEER-MB Approach; 2. Correlates of the Current Account Balance-Panel Estimates (1980-2005); 3. Unit Root Tests for the FEER-SE Approach; 4. Unit Root Tests for the CHEER Approach 5. Johansen Cointegration Test for the CHEER Approach6. The Relative Performance of Mauritius on Trade Costs; 7. The Relative Performance of the Mauritius ICT Sector Summary Annotation We assess the competitiveness of Mauritius in recent years using two approaches. First, we estimate the difference between the equilibrium and the actual real exchange rate using four methods: the macroeconomic balance approach, the single-equation fundamentals approach, the capital-enhanced approach, and the external sustainability approach. the methods consistently suggest that at the end of 2007 the exchange rate was aligned with its equilibrium value. Second, we undertake a comparative analysis of structural competitiveness indicators and find that Mauritius often fares better on business climate than other small island economies and high-growth Asian economies. Nevertheless, there are areas for improvement Subject Competition -- Mauritius -- Econometric models Equilibrium (Economics) -- Econometric models Foreign exchange rates -- Mauritius -- Econometric models Competition -- Econometric models Equilibrium (Economics) -- Econometric models Foreign exchange rates -- Econometric models Mauritius Form Electronic book Author Imam, Patrick A., author ISBN 9781451915235 1451915233 ISSN 2227-8885

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