Botswana Economic Transition Research 1998-2018

Botswana has been among the world's fastest growing economies over the past 40 years.It has an impressive record of prudent macroeconomic policies and good governance.It was one of the poorest in the world at independence in 1966.Botswana is now a middle-income country.Real GDP growth averaged 9 percent between 1965/66 and 2005/06 – an outstanding and uncontested economic performance record of any country in the world.Despite an impressive record,Botswana's growth has not translated into a significant degree of socio-economic transformation.This paper has conducted a research and an analysis of the economic transformation in Botswana from the year 2008 to 2018.It has done a general overview of developments in Botswana since independence,emphasizing the role that governance has played in economic transformation.Furthermore,it has identified high unemployment(especially amongst the youth),the narrowness of the economic base,inequality and poverty as the main challenges facing this middle-income country.This are the core issues of the economy that needs remedy to enhance inclusiveness in economic growth.The paper has also reviewed the economic transformation in Botswana and its shortcoming.In conclusion it highlights the prospects of the economy and gives recommendations.The economy of Botswana requires further transformation in form of change in the structure of the economy.This paper has adopted the qualitative and quantitative methods of research.The quantitative methods of research are becoming increasingly important in the field of international relations and have been used dating back to the cold war.This paper has used the analysis of statistics to explain the economic variables and theories used for instance percentage annual growth of gross domestic product,youth unemployment and index of diversification.Statistical work in the field of international relations has been linked with advanced empirical understanding and has been identified to overcome theoretical boundaries.The paper has analyzed the growth domestic product trend of Botswana and Southern African development community,furthermore it has analyzed the economy of Botswana as a middle-income country.This help us to understand the current economic situation of Botswana with reference to other countries in its income level group.International relations theories work,and economic theories are closely intertwined because governance and economics go hand in hand.Botswana's good record of governance has played a main role in its economic transformation.The theory of institutional economics has been demonstrated during the research.