Botswana's macroeconomic management of its mineral-based growth: it used mining revenues for development and services but must now broaden the beneficiaries

Journal Article · Thu Oct 01 04:00:00 EDT 1987 · Am. J. Econ. Sociol.; (United States)

DOI:https://doi.org/10.1111/j.1536-7150.1987.tb01995.x· OSTI ID:7010140

Curry, Jr, R L

The economic performance and the political history of Botswana during 1974-84 contrasted significantly with the experience of virtually every other African country. The South African republic, immediately north of the Republic of South Africa, achieved steady real economic growth with improved social services and provision for its people's basic needs. This was achieved in spite of world recession and drought because its mineral wealth was reserved for the people and mining companies had to pay for the privilege of extracting that wealth through a tax program limited to appropriating its surplus, while assuring the investors and entrepreneurs and adequate long-term return on capital and enterprise. But sound macroeconomic policies failed to provide even reasonably equitable benefits for the majority of the people. Sound micropolicies are needed to widen access to employment and earned income and to asset accumulation.

• Research Organization: California State Univ., Sacramento (USA)
• OSTI ID: 7010140
• Journal Information: Am. J. Econ. Sociol.; (United States), Journal Name: Am. J. Econ. Sociol.; (United States) Vol. 46:4; ISSN AJESA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
290400* -- Energy Planning & Policy-- Energy Resources
AFRICA
BOTSWANA
DEVELOPING COUNTRIES
ECONOMIC ANALYSIS
ECONOMICS
EMPLOYMENT
INCOME
MANAGEMENT
MINERAL RESOURCES
RESOURCE MANAGEMENT
RESOURCES
TAXES