Title: Facing the Global Financial Crisis - Policy Lessons from Small Mauritius
Abstract: Most of the attention around the global financial crisis has focused on its causes and effects in the banking and broader finance sector, particularly among developed and leading emerging economies. However, in a globalised world economy, the crisis has serious implications for developing countries, which are highly dependent on trade, foreign investment, and remittances to meet economic growth and social needs. Though without doubt, there are particular countries that will be adversely affected, but there will also be countries that may be less affected, may avoid recession, and may recover sooner than expected. This paper analyses the case of a small island developing state like Mauritius where government has attempted to mitigate the negative consequences of the global economic crisis through an appropriate policy mix. Mauritius has been considered as an outlier in the Sub Saharan African region and is further seen as an example in setting the right strategies in difficult times. Our study firstly examines the various transmission channels via which the crisis operates on the Mauritian economy and we discuss the appropriate policy mix implemented to increase the resilience and optimism of the country to the present crisis.
Publication Year: 2009
Publication Date: 2009-11-01
Language: en
Type: article
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Cited By Count: 1
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