8 among 156 nations in the index of geopolitical gains and losses after energy transition (GeGaLo Index). ==Overview== In 1961, Professor James Meade painted a bleak picture of the economic prospects of Mauritius, which then had a population of 650,000.
Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a high-income diversified economy with growing industrial, financial, ICT and tourist sectors.
This compares very favourably with other sub-Saharan African countries and is largely due to sustained progress in economic conditions; between 1977 and 2008, growth averaged 4.6% compared with a 2.9% average in sub-Saharan Africa.
Since the 1980s, the government of Mauritius has sought to diversify the country's economy beyond its dependence on just agriculture, particularly sugar production.
Also important is that it has achieved what few fast growing economies achieve, a more equitable income distribution and inequality (as measured by the Gini coefficient) fell from 45.7 to 38.9 between 1980 and 2006.
Preferential access to sugar and clothing markets amounted to 7% of GDP in the 1980s and 4.5% in the 1990s, capital and current accounts were liberalised, contributing to an investment and employment boom and the high inflow of FDI brought with it managerial skills. 1990s–2010: Further diversification, liberalisation and investment. === Concerted strategy of nation building === A concerted strategy of nation building since Independence created the foundations for sustained growth.
The educated and adaptable workforce were essential elements of 1980s export-orientated growth.
The economic success achieved in the 1980s engendered the rapid growth of the financial services sector in Mauritius.
Preferential access to sugar and clothing markets amounted to 7% of GDP in the 1980s and 4.5% in the 1990s, capital and current accounts were liberalised, contributing to an investment and employment boom and the high inflow of FDI brought with it managerial skills. 1990s–2010: Further diversification, liberalisation and investment. === Concerted strategy of nation building === A concerted strategy of nation building since Independence created the foundations for sustained growth.
Top sectors attracting FDI inflows from Mauritius (from January 2000 to December, 2005) are electrical equipment, telecommunications, fuels, cement and gypsum products and services sector (financial and non-financial).
In the financial sector they have built a regulated and well-capitalised banking and financial system that protected it from toxic assets prior to the 2008 global financial crisis. ====Corruption laws==== In 2002, the government adopted the Prevention of Corruption Act, which led to the setting up of an Independent Commission Against Corruption (ICAC) a few months later.
Top sectors attracting FDI inflows from Mauritius (from January 2000 to December, 2005) are electrical equipment, telecommunications, fuels, cement and gypsum products and services sector (financial and non-financial).
Also important is that it has achieved what few fast growing economies achieve, a more equitable income distribution and inequality (as measured by the Gini coefficient) fell from 45.7 to 38.9 between 1980 and 2006.
This compares very favourably with other sub-Saharan African countries and is largely due to sustained progress in economic conditions; between 1977 and 2008, growth averaged 4.6% compared with a 2.9% average in sub-Saharan Africa.
In the financial sector they have built a regulated and well-capitalised banking and financial system that protected it from toxic assets prior to the 2008 global financial crisis. ====Corruption laws==== In 2002, the government adopted the Prevention of Corruption Act, which led to the setting up of an Independent Commission Against Corruption (ICAC) a few months later.
In 2012, Mauritius participated for the first time in Google Summer of Code.
Mauritius ranks 45th out of 168 countries in Transparency International’s Corruption Perceptions Index for 2015.
In 2016, two students from Mauritius became finalists in Google Code-in.
In 2017, Mauritius got its first grand prize winner.
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