This study investigates the impact of monetary policies on stock markets based on a sample of five open countries with growing stock market over the period 2004 to 2014. Using a random effect model for the panel regression coupled with a panel vector error correction model to study the short term and long term relationship between the variables, the findings reveal a negative relation between interest rate and stock return and a direct link between money supply and stock return. The results confirm that both in the short run and long run monetary variables explain changes in stock return.

The present study pertains to unravelling the internal (bank specific) and external (macroeconomic) determinants of nonperforming loans in Mauritius using annual report data from a panel of 10 existing banks and macroeconomic data for the period 2000 to 2012. The model used in the present instance comprises of a vector of bank specific and macro economic variables which include the inflation rate, lending interest rates, growth of the construction sector and tourism sector as well as global variables such as the Euro zone’s GDP growth. The model is tested both in a static and dynamic framework. Four estimation techniques are considered, viz Fixed Effects, differenced GMM, System GMM and Random coefficient estimation. The results indicate that, notwithstanding there are many significant factors influencing NPL, the most critical elements nevertheless remain declines in the construction sector and the rise in cross border loans. Interestingly, the study provides important policy insights which centres on the improvement of credit concentration guidelines as well as the modification of the MCIB reporting.

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Objectives: The objective of the study was to investigate the importance of audit quality in Mauritius and the factors affecting audit quality in Mauritius, from the perception of accounting professionals in Mauritius. Methodology: For the purpose of this study, a survey was carried out among accounting professionals in Mauritius. Based on existing literature, the questionnaire was designed and a five point-likert scale was used. The target population was accountants, auditors and stock brokers who were used as a proxy for investors. A stratified random sampling approach was used for the purpose of this study. A sample size of 200 accounting professionals was out of the 200 questionnaires administered, 188 were collected, of which 8 were discarded because they were not properly filled. Statistical analysis techniques for example; Factor Analysis, Descriptive Statistics, Independent Samples T-test and One-Way-ANOVA were used for the purpose of analysis. Findings: Majority of respondents have shown agreement with the importance of audit quality for its multiple beneficial contributions to successful corporate performance, and good governance in general. In addition the impacting factors on audit quality, by Turley and Willekens [1], regarding audit fees, firm size, tenure, reputation, financial statements-restatements, industry expertise, independence, non-audit services, and audit rotation, have been perceived as essential for achieving audit quality in Mauritius. The study reveals that female are more agreeable than male that audit quality enhances firm performance. The study also reveals that female are more agreeable than male that Long auditor tenure leads to high audit quality and that financial restatements of faulty statements negatively impact audit quality. Scope for Future Research: The study has investigated the audit quality from the perspectives of accounting professionals. Further study can include the perception of different users of accounting information such as shareholders, potentials investors, creditors, customers, employees amongst others to have a better evaluation of audit quality in Mauritius.

This paper examines the impact of foreign real estate on land prices in Mauritius. Using a panel dataset comprising price, quantity and other information for a variety of luxury villas and apartments, we show that the price of land paid by locals has been pushed up by a modest 4-22% in total as a result of these developments. We also examine the determinants of the prices of the dwellings in these schemes, finding that they are strongly related to the sizes of the plots, whether they have ocean views, and the desirability of the region in which they are sited, although there remains considerable unexplained heterogeneity.