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191. Financing Public Private Partnerships (PPPs) in Botswana Through the Capital Market

Author:
Kelesego Mmolainyane
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
In her quest to further graduate to the high-income status, Botswana seeks to invest more in infrastructure development for both productive and social use. An efficient and effective infrastructure provision is fundamental to excellent public service delivery and access. Sadly, Botswana, like many other world economies, has a challenge of having an infrastructure financing gap. One of the innovative ways to fill this gap is through public private partnerships (PPPs) with the capital market that has excess liquidity. Infrastructure PPPs are complex and capital intensive projects that require project finance experts to advise parties involved regarding returns and risks associated with each project. Various project-financing models can be designed to suit project specifications and they cannot be over-generalised for all PPP projects. Nevertheless, given the tight fiscal space, Botswana now, more than ever, should consider issuing PPP bonds and applying user changes model to finance economic PPP infrastructure for sustainable and inclusive economic growth.
Topic:
Development, Economics, Infrastructure, Finance, Public Sector, Economic Development, and Private Sector
Political Geography:
Africa and Botswana

192. Key Drivers of Industrial Growth: A Case Study of Botswana’s Manufacturing Sector

Author:
Johanne Motsatsi and Goitseone Khanie
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
The paper examines the key determinants of industrial growth in Botswana, using manufacturing sector value added as the proxy for industrial growth. It employs the Autoregressive Distributed Lag (ARDL) cointegration approach using annual time series data for the period 1983 to 2015. Empirical results show that industrial growth is driven by financial sector development, human capital development, trade openness and foreign direct investment. Specifically, domestic credit to the private sector as a percentage of GDP and secondary school enrolment ratio are found to be significantly related to manufacturing value added as a percentage of GDP both in the long run and short run. While the relationship is limited to long run for total trade to GDP, it only exits in the short run for FDI net inflows. The study therefore recommends that policy makers should design and ensure proper implementation of financial sector development strategies that can help ease access to credit for manufacturing enterprises in the country. There is also a need for a holistic approach in the design and implementation of innovation and human resource development policies in order to provide a conducive environment for skills acquisition, innovation and technological advancements in the manufacturing sector. Trade policies and export promotion strategies should heighten productivity and value addition in the manufacturing sector, so as to make local firms internationally competitive. Finally, with regards to FDI, the Government of Botswana should create an environment that could entice multinationals to invest in the local manufacturing industry. This, however, should be coupled with protectionist policies to avoid crowding out local manufacturers and exposing them to foreign competition.
Topic:
Development, Economics, Economic growth, Manufacturing, Economic Development, and Industrialization
Political Geography:
Africa and Botswana

193. Ordinary Shareholders' Rights Protection in Botswana

Author:
Ratang Sedimo and Kelesego Mmolainyane
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
This study seeks to examine institutional frameworks that exist in Botswana to protect the rights of ordinary shareholders. There is no literature on the subject matter in the context of Botswana; hence this study attempts to fill in the literature gap. The study uses a variety of data collection methods, such as semi-structured interviews, the Choppies case study and lessons learnt from other jurisdictions. Findings reveal that ordinary shareholders’ rights protection involves the use of institutional frameworks. In Botswana, existing frameworks are not adequate to protect ordinary shareholders’ rights. Furthermore, the study shows that ordinary shareholders in Botswana are mainly exposed to risks of losing their investments, partially or entirely, in case of non-compliance to regulatory requirements as shown by the reduction in Choppies’ stock price from P1.20 to P0.40 between years 2012 and 2018. The study suggests that the existing institutional frameworks should be reviewed to ensure adequate protection of ordinary shareholders’ rights.
Topic:
Security, Economics, Human Rights, Investment, Macroeconomics, Land Rights, and Labor Rights
Political Geography:
Africa and Botswana

194. Whistleblowing in Botswana's Construction Industry : A Public and Private Sector Perspective

Author:
Marumo Omotoye
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
The construction industry (CI) is considered one of the most corrupt both internationally and regionally. Therefore, this study examined the views and attitudes of professionals in Botswana’s CI towards the role whistleblowing (or protected disclosure) can play in curbing corruption in the sector. A convergent mixed methods approach was adopted. Semi-structured interviews were conducted with key stakeholders from the construction industry. Furthermore, a self-administered survey was utilised to collect quantitative data from 117 construction firms. Data revealed that there was little awareness of whistleblowing legislation. Fear of retaliation or punishment and job loss, and a lack of education on whistleblowing were identified as some of the most substantial barriers to effective whistleblowing in the industry. From a public policy perspective, it is recommended that an emphasis be placed on improving levels of education and awareness on whistleblowing in the construction sector. In addition, there should be consideration to amend the Whistleblowing Act 2016 to include construction industry regulators, the Public Procurement and Asset Disposal Board, and private media amongst the list of institutions authorised to receive reports of impropriety in order to extend the scope of legal protection to whistleblowers in the sector. Recommendations for further research are provided.
Topic:
Corruption, Development, Economics, Public Sector, Manufacturing, Economic Development, Private Sector, Industry, and Whistle Blowing
Political Geography:
Africa and Botswana

195. Do Commodity Price Shocks Cause Armed Conflicts? A Meta-Analysis of Natural Experiments

Author:
Graeme Blair, Darin Christensen, and Aaron Rudkin
Publication Date:
09-2020
Content Type:
Working Paper
Institution:
Empirical Studies of Conflict Project (ESOC)
Abstract:
Scholars of the resource curse argue that reliance on primary commodities destabilizes governments: price fluctuations generate windfalls or periods of austerity that provoke or intensify civil conflict. Over 350 quantitative studies test this claim, but prominent results point in different directions, making it difficult to discern which results reliably hold across contexts. We conduct a meta-analysis of 46 natural experiments that use difference-in-difference designs to estimate the causal effect of commodity price changes on armed civil conflict. We show that commodity price changes, on average, do not change the likelihood of conflict. However, there are cross-cutting effects by commodity type. In line with theory, we find price increases for labor-intensive agricultural commodities reduce conflict, while increases in the price of oil, a capital-intensive commodity, provoke conflict. We also find that price increases for lootable artisanal minerals provoke conflict. Our meta-analysis consolidates existing evidence, but also highlights opportunities for future research.
Topic:
Agriculture, Oil, Natural Resources, Commodities, and Armed Conflict
Political Geography:
Global Focus

196. Iran’s Battered Economy

Author:
Paul Rivlin
Publication Date:
09-2020
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In this issue of Iqtisadi: The Middle East Economy, Paul Rivlin analyses the Iranian economy in 2020 in the wake of the Coronavirus pandemic and economic sanctions.
Topic:
Economy, Coronavirus, and Health Crisis
Political Geography:
Iran and Middle East

197. An Israeli-Sudanese Rapprochement? Context, Interests, and Implications

Author:
Asher Lubotzky
Publication Date:
10-2020
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In this issue of Ifriqiya, Asher Lubotzky discusses the context, opportunities, and risks involved in the pursuit of a normalization deal between Israel and Sudan. Following the 2019 revolution, the different parties in Sudan agreed to a road map for their transition to democracy, which requires that an elected government be formed by the end of 2022. It is clear, however, that the possibility of establishing official relations between Israel and Sudan is on the table and a serious consideration for both parties. This article purposes to make sense of these dramatic developments in Israel-Sudanese relations, place them in a broader context, and analyze the multifaceted interests of both parties.
Topic:
International Relations, Foreign Policy, Treaties and Agreements, and Bilateral Relations
Political Geography:
Africa, Sudan, Middle East, and Israel

198. “Gulf citizens against normalization”: Reactions to Israel’s normalization agreements with the UAE and Bahrain

Author:
Adam Hoffman
Publication Date:
09-2020
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In September issue of Beehive, Adam Hoffman examines the discourse in the social networks of several Gulf States regarding Israel's normalization agreements with the UAE and Bahrain.
Topic:
Treaties and Agreements, Public Opinion, Donald Trump, Normalization, and Abraham Accords
Political Geography:
Israel, Bahrain, Gulf Nations, and UAE

199. Marketing Daʿwa in America Through Social Media

Author:
Elad Ben David
Publication Date:
09-2020
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In September issue of Beehive, Elad Ben David shows the use of social media as a powerful tool for marketing Da'wa in America.
Topic:
Science and Technology, Culture, Social Media, and Islamism
Political Geography:
Middle East, Israel, and United States of America

200. How the Abraham Accords affected the Turkish Foreign Policy?

Author:
Zoltán Egeresi
Publication Date:
10-2020
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In this issue of Turkeyscope, Zoltán Egeresi, research fellow at the Hungarian Institute for Strategic and Defence Studies, analyzes the negative Turkish reaction to the normalization deals made between Israel and the UAE and Bahrain.
Topic:
Foreign Policy, Diplomacy, Bilateral Relations, and Abraham Accords
Political Geography:
Turkey, Middle East, Israel, Bahrain, United States of America, and UAE