Growth, Incomes, and Development, c. 1940–Present

Abstract

Botswana has become known as an African growth miracle. During the independence era the country experienced spectacular economic growth, based on a blessed combination of exceptional diamond resources and prudent financial management. However, the diamond-led growth period was not the first growth period of the territory. During the colonial era Botswana experienced a much more modest cattle-led growth period starting in 1940 after the establishment of the cattle export sector. Hillbom and Bolt take a broad historical perspective and analyse both growth periods in depth, focusing on identifying the main mechanisms driving the processes and understanding what growth has meant for the development of economic structures. In the absence of national accounts they produce unique data on income levels and occupational structures for the colonial era.