Botswana : Skills for Competitiveness and Economic Growth
Botswana has pursued prudent macroeconomic policies to manage the revenue streams from diamond exports. It is now an upper-middle-income country that outperforms other countries in Sub-Saharan Africa on key indicators of socioeconomic performance i...
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Language: | English en_US |
Published: |
Washington, DC
2015
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Online Access: | http://documents.worldbank.org/curated/en/2014/01/22670017/botswana-skills-competitiveness-economic-growth http://hdl.handle.net/10986/21069 |
Summary: | Botswana has pursued prudent
macroeconomic policies to manage the revenue streams from
diamond exports. It is now an upper-middle-income country
that outperforms other countries in Sub-Saharan Africa on
key indicators of socioeconomic performance including
education, health, and social services. The economic
structure in Botswana has undergone changes in recent years,
but these changes have not yet ended the countryapos;s
reliance on diamond exports. Until recently, Botswana also
had a telecommunications monopoly; other utilities are not
always accessible at competitive terms. Looking at the
lessons offered by successful economies that have grown
rapidly in a short period of time, such as those in East
Asia, it is clear that export-led industrialization policies
contributed to their growth. These policies involve the
state taking the lead in crafting and managing market
institutions, building physical infrastructure to support
industrialization, and minimizing coordination failure
within the various segments of the economy. A well-educated
and trained population with a wide spectrum of skills also
played a vital supporting role in this growth in East Asia.
This population had a sufficient skills base to absorb and
assimilate technology (via foreign direct investment),
operate equipment and infrastructure, and create effective
organizations. The country faces significant challenges in
transforming its human resources into a force that can drive
total factor productivity improvements and, consequently,
economic growth. |
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