Botswana's economy and the question of diversification

Daniele Schiliro'

MPRA Paper from University Library of Munich, Germany

Abstract: Botswana is an upper-middle-income country with a significant diamond wealth, being the first world producer of diamonds in terms of value and the second largest, after Russia, in terms of volume. Although Botswana's economy has performed quite well in recent years, apart from the negative year of the COVID-19 crisis, the country still suffers from high inequalities, high levels of poverty, insufficient infrastructure, and a poorly diversified economy too focused on diamonds. This paper examines the economy of Botswana, its features, economic structure, and evolution, stressing the need for diversification. The paper first suggests the need for the government to actively foster private sector development of the economy and the provision of a business-friendly regulatory environment, as well as an innovation policy that encourages the adoption of digital technologies and the establishment of Industry 4.0, finally, last but not least, skill enhancement. Therefore, innovation, institutions, and education are the key factors for diversification and sustainable development.

Keywords: diversification; Botswana; innovation; knowledge economy; institutions (search for similar items in EconPapers)
JEL-codes: J24 L50 O14 O25 O30 O55 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-cis
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in International Journal of Business Management and Economic Research 3.13(2022): pp. 1-8

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/115608/1/MPRA_paper_115608.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:115608

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().