Exchange to Change January 2018 E2C January 2018 web | Page 19

RESEARCH dependence on diamonds in the past 20 years, but economic diversification remains a challenge.  For instance, the non-diamond GDP will need to grow at an average of 6.4% annually for the next 20 years (through to 2036) for the country to reduce the unemployment rate to 5% (World Bank, 2017). Moreover, reforms in the areas of tax administration, state-owned enterprises, and the labor market that could strengthen growth prospects and enhance economic diversification have been hampered by weaknesses in implementation capacity and insufficient coordination or political support (IMF, 2017). Therefore, the public sector needs to be managed in a more efficient way. According to Botswana’s authorities themselves, resolving the challenges faced by the country will require “a fundamental shift from a diamond and government-driven growth model to one based on building human capital and fostering a competitive private sector” (IMF, 2017). Finally, attention should be paid to issues related to women’s representation and discrimination against minorities, particularly the San people (World Bank, 2017; Lewin, 2011). 19 Some references Atsu Amegashie, J. & Kamara, I. (2008). The exceptionality of Botswana: Economics, politics and challenges. 2012/Botswana,%20Exceptionality%20-%20Economics,%20Politics%20&%20 Challenges.pdf Brunnschweiler, C. N. & Bulte, E. H. (2008). “The Resource Curse Revisited and Revised: A Tale of Paradoxes and Red Herrings. science/article/pii/S0095069608000193 Collier, P. & Hoeffler, A. (2004). “Greed and Grievance in Civil War. https:// Corden,W. M. & Neary, P. J (1982). “Booming Sector and Deindustrialization in a Small Open Economy. contents Hausmann, R. & R. Rigobon. (2003). “An Alternative Interpretation of the ‘Resource Curse’: Theory and Policy Implications.” www/Robertos_Web_Page/policy_IS_files/is.pdf Iimi, A. (2007). Escaping from the Resource Curse: Evidence from Botswana and the Rest of the World. imfsp.9450020 IMF (2017). Staff Report for the 2017 Article IV consultation in Botswana. https:// Lewin, M. (2011). Botswana’s success: Good governance, good policies, and good luck. handle/10986/2335/634310PUB0Yes0061512B09780821387450. pdf?sequence=1#page=97 Sachs, Jeffrey D. & Warner, A. M. (1995). “Natural Resource Abundance and Economic Growth.” Sarraf, M. & Jiwanji, M. (2001). Beating the resource curse. The case of Botswana. E xchange to change J anuary 2018