Rules, Rents and Restraints: Fiscal Stability and Resource Dependency
Botswana’s reputation as a beacon of fiscal prudence in resource-rich economies faces new challenges. Yet recent pressures – rising debt, declining surpluses, and fiscal volatility – raise questions about the long-term sustainability of this model. This thesis examines how Botswana’s fiscal capacity has shaped its ability to manage natural resource wealth between 1990 and 2022. Drawing on a compos
