Converging Indigenous Capital with Pre- and Post-colonial Institutional Settings: The Case of Botswana

Lesley Peter Welman^1,

¹Stellenbosch University, Military Academy, Military Geography, Frans Erasmus Drive, Room 118A, Saldanha, 7395 South Africa

Cite this paper:
Lesley Peter Welman. Converging Indigenous Capital with Pre- and Post-colonial Institutional Settings: The Case of Botswana. Journal of Finance and Economics. 2021; 9(6):231-241. doi: 10.12691/jfe-9-6-4

Abstract

This article contributes to explaining the prominence of institutional eminence and efficacy in determining economic growth. Not like many other former British colonial sub-Saharan countries, Botswana has avoided the low-growth paths of many African countries. Since independence (1965) Botswana¡¯s leaders have go on board on a programme of virtuous governance and the setting up of resilient institutions. The gratitude and amalgamation of indigenous cultures and knowledge systems into their constitution, accompanied by the forethought of the leaders into the real-world challenges of accomplishments their country, can be regarded as the drivers of Botswana¡¯s economic evolution performances. Robust governance as well as accountable, all-encompassing, judicious and see-through policy choices were inveterate to be the awe-inspiring factor underlying dramatic and unrelenting economic growth in Botswana. Sturdy leadership furthermore directly influenced the adhesiveness of formal and informal institutions in Botswana. The postcolonial theory and the Evolutionary Economic Approach (EEA) are useful for evaluating the impact of formal and informal institutions in Botswana.

Keywords:
predatory rules thick institutions institutional embeddedness resource curse kgotlas

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