Tropical Economic Miracles

MAURICIO RODRIGUEZ
REVISTA DESARROLLO Y SOCIEDAD 72 (2013): 11-69

During the second half of the last century Botswana and Singapore experienced an unparalleled economic performance among the Tropical countries. This paper explores and describes the main economic and institutional causes behind the rapid economic development observed in these two economies. It is argued that the quality of institutions —inherited from the precolonial times and the British rule—, the appropriate integration into the world markets, and the political stability —achieved by their single ruling parties—, played a significant role in the “miracles” of Botswana and Singapore.