Are Diamonds Forever? Using the Permanent Income Hypothesis to Analyze Botswanaâ€™s Reliance on Diamond Revenue
This study assesses the sustainability of Botswana’s diamond-related fiscal revenue. Diamond reserves are not adequate to generate enough permanent revenue to sustain a high level of expenditure. Under the current fiscal rule that no debt may be accumulated, Botswana will have to save more to avoid an abrupt adjustment in the medium term.
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- Atsushi Iimi, 2006. "Did Botswana Escape from the Resource Curse?," IMF Working Papers 06/138, .
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