An Assessment of the Investment Climate in Botswana, Volume 2. Detailed Results and Econometric Analysis
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The objective of the Botswana Investment
Climate Assessment (ICA) is to evaluate the investment
climate in Botswana in all its operational dimensions and
promote policies to strengthen the private sector. The
investment climate is made up of the many location specific
factors that shape the opportunities and incentives for
firms to invest productively, create jobs, and expand. These
factors include macroeconomic and regulatory policies; the
security of property rights and the rule of law; and the
quality of supporting institutions such as physical and
financial infrastructure. The main sources of information
for the ICA are two firm-level surveys. The first survey
covered Small, Medium, and Large Enterprises (SMLEs) with
five or more employees in retail trade, manufacturing, and
other services. The second covered micro enterprise with
fewer than five employees in the same sectors. Information
from the survey is supplemented with information from other
sources, including the doing business report; analytical
reports by the World Bank, the international monetary fund,
other international organizations and the Government of
Botswana; and academic papers and reports. Although the
analysis in this report suggests that there are some areas
where the investment climate might be improved, it is
important to note none of these problems with the possible
exception of worker skills appear to be particularly
debilitating. This suggests that other factors are probably
also playing a role. One such factor is likely to be the
small size (in terms of population) and remoteness of the
economy. Another factor is the effect that is the
macroeconomic effects of the large mining economy has on the
competitiveness of the rest of the economy. Improving living
standards and cutting poverty depends on broad-based
economic growth, which will only take place when firms
improve worker productivity by investing in human and
physical capital and technological capacity. But firms will
only invest when the investment climate is favorable.
Palabras clave
ABSENTEEISM, ACCESS TO CREDIT, ACCOUNTING, AGRICULTURE, BANK OF BOTSWANA, BANKING SYSTEM, BANKS, BARRIERS TO ENTRY, BENCHMARK, BOOK VALUE, BUYERS, CALCULATIONS, CAPITAL USE, CHAMBERS OF COMMERCE, COMPANY, COMPETITIVE MARKETS, COMPETITIVENESS, COMPETITOR, COMPETITORS, CONSTANT RETURNS TO SCALE, CONTRIBUTION, CONTRIBUTIONS, COST OF CAPITAL, COST OF LABOR, COUNTRY COMPARISONS, CURRENCY APPRECIATION, DEFLATORS, DEPRECIATION, DEVALUATION, DEVELOPMENT BANK, DIVERSIFICATION, ECONOMETRIC ANALYSIS, ECONOMIC ACTIVITIES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIES OF SCALE, ENTREPRENEURS, EXCHANGE RATE, EXCHANGE RATES, EXCISE TAXES, EXPANSION, EXPECTED RETURN, EXPORTS, EXTREME POVERTY, FINANCIAL CONSTRAINTS, FINANCIAL SECTOR, FINANCIAL SERVICES, FIRM SIZE, FIXED COSTS, FOREIGN COMPANY, FOREIGN EXCHANGE, FOREIGN INVESTMENT, GDP, HUMAN CAPITAL, INCOME, INCOME INCREASES, INDUSTRIALIZATION, INEFFICIENCY, INFLATION, INFLATION RATE, INTERNATIONAL MARKETS, INVESTING, INVESTMENT CLIMATE, INVESTMENT CLIMATE ASSESSMENT, INVESTMENT CLIMATE ASSESSMENTS, INVESTMENT CLIMATES, LABOR COSTS, LABOR MARKET, LABOR MARKETS, LABOR PRODUCTIVITY, LARGE ENTERPRISE, LARGE ENTERPRISES, LARGE FIRM, LARGE FIRMS, LATIN AMERICAN, LIQUIDITY, LIVING STANDARDS, LOAN, LOAN APPLICATIONS, LOAN PRODUCTS, LOCAL CURRENCY, LOW INCOME, LOW-INCOME, MACROECONOMIC MANAGEMENT, MACROECONOMIC STABILITY, MANPOWER, MANUFACTURERS, MANUFACTURING ENTERPRISE, MANUFACTURING ENTERPRISES, MARKET SHARE, MARKET SHARES, MAXIMUM LIKELIHOOD ESTIMATION, MEASURES OF PROFITABILITY, METROPOLITAN AREAS, MICROENTERPRISES, MIDDLE INCOME COUNTRIES, MIDDLE INCOME COUNTRY, NATURAL RESOURCES, ORGANIZATIONAL STRUCTURE, OVERHEAD COSTS, PENSION, PENSION SYSTEM, PER CAPITA INCOME, PRIVATIZATION, PRODUCTION FUNCTION, PRODUCTION FUNCTIONS, PRODUCTIVITY, PROFITABILITY, PROPERTY RIGHTS, PURCHASES, REGRESSION ANALYSIS, RETURN ON ASSETS, RETURN ON SALES, REVENUE SOURCES, SALARIES, SEES, SIZE OF FIRMS, SMALL ENTERPRISES, SMALL FIRMS, SMALLER ENTERPRISES, SMALLER FIRMS, SOURCE OF INFORMATION, SUB-SAHARAN AFRICA, TAX RATE, TAX REVENUES, TAXATION, TELECOMMUNICATIONS, TOTAL COST, TOTAL FACTOR PRODUCTIVITY, TRAINING PROGRAM, TRAINING PROGRAMS, UNEMPLOYED, UNEMPLOYED WORKERS, UNEMPLOYMENT, VALUE ADDED, WAGE, WAGE COSTS, WAGE STRUCTURE, WAGES, WORKER PRODUCTIVITY, WORKING CAPITAL