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.

Botswana’s Economy and the Question of Diversification

Schiliro' Daniele
Primo
2022-01-01

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.
2022
File in questo prodotto:
File Dimensione Formato  
Schilirò_ijbmer-Botswana economy and the question of diversification-2022.pdf

accesso aperto

Descrizione: Schilirò_Botswana's economy and the question of diversification_ijbmer-2022
Tipologia: Versione Editoriale (PDF)
Licenza: Copyright dell'editore
Dimensione 911.71 kB
Formato Adobe PDF
911.71 kB Adobe PDF Visualizza/Apri
Pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11570/3245833
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact