A Critical Assessment of Basel III and its Implications on the Mauritian Banking Sector

This paper probes into the application of Basel III in Mauritius. Findings show that although Mauritian banks are well-capitalized and carry excess liquidity, they will have to restructure their balance sheets by incorporating highly liquid assets such as government securities. While Basel III will foster greater financial stability, this will translate into lower supply of credit, higher cost of credit and lower returns with potential strains on SME lending. Similarly, Bank of Mauritius’s ability to control credit growth will be hindered because banks’ existing leverage ratios are already higher than the stipulated minimum leverage ratio of 3%. To harness the full benefits of the reforms, additional measures tailored to the specificities of the Mauritian economy will be needed. Other challenges prevail like establishing robust data management, risk methodologies, reporting systems and IT architecture as well as identifying the timing and the size of the Countercyclical Capital Buffer. Local banks anticipate Basel IV in the coming years as a refined tool.     

Does tourism-led growth hypothesis exist in Mauritius? Evidence from disaggregated tourism markets

We use the data of total tourism market and 10 major tourism markets in Mauritius to test the validity of tourism-led growth hypothesis in the country for the period 1980–2011. Using causality techniques, we confirm the hypothesis for the total tourism market. However, tourism-led growth exists in only 6 of the 10 markets. We conclude that not all tourism markets are contributing substantially to Mauritius’ economy.     

Limits to strategic HRM: the case of the Mauritian civil service

Taking as its starting point the impressive evidence for the strategic human resource management (SHRM) model's effect on organizational performance, and for the relationship between public staff management and economic growth, the paper offers the civil service of Mauritius as a case study of SHRM's relevance to developing countries. It finds that SHRM is not practised in Mauritius, nor is it feasible in the near future, because it is not widely known, because there is no strategic management framework, because staff management is highly centralized and because political will to make radical changes in staff management is lacking. The case study does not support claims that SHRM and its associated practices have a universal validity, or that public staff management is a ‘magic bullet’ that delivers economic growth. Improvements to staff management in Mauritius, and possibly other developing countries, will require a creative and piecemeal adaptation of Anglophone ‘good practice’ that respects political, economic and social realities.     

The antecedents of direct management communication to employees in Mauritius

We measure whether, in a developing country, existence of a ‘hard’ strategic human resource management (SHRM) strategy developed at high organizational levels or one designed to enhance employee knowledge inputs and thereby promote employer–employee interdependence (EEIN) is a stronger antecedent of direct communication to employees. We use data from a comprehensive survey of HR practices in Mauritius, one of Africa's most open and successful economies. We find that both SHRM and EEIN are antecedents, but that the latter is stronger in public organizations and in smaller and older companies. We conclude that EEIN is a significant analytic category for explaining management practices especially in a historic sense in this and possibly other developing country contexts.     

Small island urban tourism: a residents' perspective

The impacts of tourism have been given much consideration by scholars attempting to investigate the attitudes of the host population toward tourism. Such studies have been carried out in rural, coastal as well as in urban areas. However, most studies on urban tourism impacts have been conducted in the context of the developed world, whereas very little research has been carried out in the urban environment of Small Island Developing States. Using a sample size of 230 residents, this study contributes to the limited literature on urban tourism in islands by examining the residents' attitudes toward tourism in Port Louis, the capital city of the island of Mauritius. Findings suggest that while the positive impacts of tourism are well recognized by the residents, the latter are also concerned with some negative influence of tourism in Port Louis. Residents were found not to be homogeneous in their perceptions toward tourism. Employment in tourism was found to be an antecedent of attitudes. Gender and age were also found to be discriminators toward some tourism impact. Findings also revealed that residents were supportive of cultural tourism development. Implications for the management of the small island urban tourism are also discussed.     

Tourism in Mauritius: an economic impact study with marketing implications

Tourism impact analysis is traditionally used to measure the volume of income, employment, public sector revenue and imports generated in a holiday area by tourist spending and to calculate the differential impacts made by visitors from various origins. This article on Mauritius shows how such analysis can provide useful marketing information to help maximize the economic impact of tourism in a small-island economy.     

Developing Mauritianness: National Identity,Cultural Heritage Values and Tourism

Mauritius is a nation of immigrants who have harmoniously come together, working to make their new homeland an economic success story. To continue this unprecedented economic growth Mauritius is consciously aware of the need for diversification in all its industries, including tourism. Known for being a quintessential beach vacation destination, Mauritius desires to expand the tourism sector to include aspects of cultural heritage tourism. To accomplish this task several questions must be answered about the meaning of Mauritianness and its relationship to tourism. Here it is argued that in order to further develop cultural heritage tourism in Mauritius, the understanding of Mauritian national identity must also be advanced.     

Democracy, History, and Economic Performance: A Case-Study Approach

Crossnational statistical studies show a positive relationship between the length of time a country has been democratic and its economic performance. Old democracies grow faster, ceteris paribus, and also demonstrate advantages in some economic policies thought to be conducive to growth. However, the causal connections between regime history and economic policy and performance remain opaque. Arguments are highly speculative, for the causal pathways are usually difficult to measure and are not readily testable in a large-N cross-country format. In order to illuminate possible interconnections between regime history and economic performance we identify three countries in the developing world whose recent history may be regarded as illustrative: Brazil, India, and Mauritius. Our analysis of these cases focuses on the achievement of policy consensus and policy reform, both of which are commonly regarded as critical to economic performance. Intensive study of our chosen cases suggests multiple mechanisms by which democratic experience might translate into greater success on these policy dimensions.     

Enclave tourism versus agritourism: the economic debate

The approaches to tourism development vary in different settings. The purpose of this paper is to contribute to the conversation on the relative economic advantages of enclave and agritourism in a small island context. This study explicitly discusses these two forms of tourism in the island of Mauritius where tourism is a key pillar of the local economy. This study uses a novel format where stakeholder perspectives are reviewed based on a simulated debate between two sets of advocates. The debate arguments rely on a grounded methodology where in-depth interviews were conducted to gather the opinions of three substantial groups of stakeholders: notably, government officials, business interests and local community members. The multi-faceted arguments are built on the identified local concerns and perspectives and provide a forum for the voices of diverse participants from the tourism world of Mauritius. The format offers a rich, realistic set of arguments exploring the economic merits of both forms of tourism in a specific setting. Five main themes influence the economic support for tourism development: certainty of tourism income, scale of tourism development, employment, regional disparity and the challenge of change.