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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Booms and Busts in Botswana
Author:Hudson, Derek J.
Periodical:Botswana Notes and Records (ISSN 0525-5090)
Notes:biblio. refs., ills.
Geographic terms:Botswana
Southern Africa
Subjects:public finance
Politics and Government
Economics and Trade
Economics, Commerce
Export earnings
economic policy
business cycles
External links:https://www.jstor.org/stable/40980843
Abstract:This paper examines the way in which the Botswana authorities have handled massive fluctuations in export earnings and in government revenues, due to booms and busts in the international market for the dominant export commodity, 'rough' or uncut diamonds. After an introductory section, section 2 briefly defines the commodity and explains why the year-to-year values of export sales are unpredictable and unreliable, even if there is a general upward trend in these values. Section 3 gives a brief statistical background to show how the commodity has come to dominate both the economy in general and the government finances in particular. Section 4 records what the Botswana government says is its policy to cope with the uncertainties associated with the ups and downs of the market for the commodity. Section 5 discusses some techniques used in the Ministry of Finance and Development Planning to handle pressures on the Minister for more funds to be allocated to the spending ministries. Section 6 examines what has actually happened in practice. Section 7 gives the Botswana authorities top marks for setting sensible economic goals and then in fact doing what they said they were going to do. Bibliogr., notes.