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Many researchers have noted that natural resources are a curse to different economies.They argue that with sufficient quantities of natural resources,the possibility of conflict is high and this deters the economic prospects and growth of the country.The study sought to ascertain whether Botswana has successfully managed to overcome the natural resource curse with specific reference to the reasons behind the countrys escape of the paradox of plenty.
The studys research design was time series in which data for analysis was collected over a period of50years.However,a descriptive design was used in providing the results to objective two of the study.Both primary and secondary data were used in the study about variables used to establish whether the country escaped the paradox of plenty.Primary data was used to provide explanations for the trend of the analyzed secondary data.Presentation of analyzed information or data and other findings was done using tables which was generated from STATA and then exported to Microsoft word.
The results of the study indicated that there is enough statistical evidence to support the claim that,compared to South Africa,Egypt and S(a)o Toméand Príncipe,Botswana grows at a higher rate of economic growth,justifying that the country escaped the natural resource curse.The results also indicated that there are several reasons for this including the countrys fair and efficient hiring and promotion processes,the existence of effective coordination mechanisms and the fact that the countrys budget is implemented as planned.
In conclusion,despite the fact Botswana is well endowed with Diamonds as the main natural resource,the country escaped the paradox of plenty.Ascertaining that the diamonds will soon get depleted,the subsequent governments have put in place a series of measures to mitigate the adverse effect of this diamond boom.These have also included efficient utilization of mineral carnings and efficiency in government expenditures.In this respect,natural resources are a blessing to Botswana.
The studys research design was time series in which data for analysis was collected over a period of50years.However,a descriptive design was used in providing the results to objective two of the study.Both primary and secondary data were used in the study about variables used to establish whether the country escaped the paradox of plenty.Primary data was used to provide explanations for the trend of the analyzed secondary data.Presentation of analyzed information or data and other findings was done using tables which was generated from STATA and then exported to Microsoft word.
The results of the study indicated that there is enough statistical evidence to support the claim that,compared to South Africa,Egypt and S(a)o Toméand Príncipe,Botswana grows at a higher rate of economic growth,justifying that the country escaped the natural resource curse.The results also indicated that there are several reasons for this including the countrys fair and efficient hiring and promotion processes,the existence of effective coordination mechanisms and the fact that the countrys budget is implemented as planned.
In conclusion,despite the fact Botswana is well endowed with Diamonds as the main natural resource,the country escaped the paradox of plenty.Ascertaining that the diamonds will soon get depleted,the subsequent governments have put in place a series of measures to mitigate the adverse effect of this diamond boom.These have also included efficient utilization of mineral carnings and efficiency in government expenditures.In this respect,natural resources are a blessing to Botswana.