@article{Asongu,2019,
title = {Foreign Aid Complementarities and Inclusive Human Development in Africa},
author = {Simplice A. Asongu, Nicholas M. Odhiambo},
url = {https://www.tandfonline.com/doi/full/10.1080/01488376.2019.1612821},
doi = {10.1080/01488376.2019.1612821},
year = {2019},
date = {2019-05-15},
journal = {Journal of Social Service Research },
abstract = {This study complements existing literature by assessing how various types of foreign aid complement each other in boosting inclusive human development in Africa. (a) When ‘aid to social infrastructure’ is moderated with other aid types, ‘action on debts’ is substitutive whereas ‘aid to the production sector’, ‘aid for program assistance’ and humanitarian assistance are complementary. (b) ‘Aid to the production sector’ (‘action on debt’) is complementary (substitutive) to ‘aid for economic infrastructure’. (c) Whereas ‘action on debt’ is a substitute to ‘aid to the production sector’, ‘aid for social infrastructure’ and ‘aid for economic infrastructure’ are complementary. (d) ‘Action on debt’ is a substitute for ‘aid to the multi-sector’. (e) While ‘aid for social infrastructure’ and ‘action on debt’ are substitutive to ‘aid for program assistance’; humanitarian assistance is complementary. (f) The following are substitutes to ‘action on debt’: ‘aid for economic infrastructure’, ‘aid to the production sector’, ‘aid to the multi-sector’ and ‘program assistance’. (g) ‘Aid for social infrastructure’ and ‘program assistance’ are complementary to humanitarian assistance. The findings reveal various patterns that inform policy makers on the relevance of sequencing aid types to enhance inclusive development. Future research should focus on country-specific studies.},
keywords = {Africa, Foreign aid, inclusive development},
pubstate = {published},
tppubtype = {article}
}

@unpublished{Asongu,2019,
title = {The Stability of Demand for Money in the Proposed Southern African Monetary Union},
author = {Simplice A. Asongu, Oludele E. Folarin, Nicholas Biekpe
},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-Stability-of-Demand-for-Money-in-the-Proposed-Southern-African-Monetary-Union.pdf},
year = {2019},
date = {2019-05-13},
abstract = {This study investigates the stability of demand for money in the proposed Southern African Monetary Union (SAMU). The study uses annual data for the period 1981 to 2015 from ten countries making-up the Southern African Development Community (SADC). A standard function of demand for money is designed and estimated using a bounds testing approach to co-integration and error-correction modeling. The findings show divergence across countries in the stability of money. This divergence is articulated in terms of differences in cointegration, CUSUM (cumulative sum) and CUSUMSQ (CUSUM squared) tests, short run and long-term determinants and error correction in event of a shock. Policy implications are discussed in the light of the convergence needed for the feasibility of the proposed SAMU. This study extends the debate in scholarly and policy circles on the feasibility of proposed African monetary unions.},
keywords = {Stable; demand for money; bounds test},
pubstate = {published},
tppubtype = {unpublished}
}

@unpublished{Asongu,2019,
title = {Remittances, the Diffusion of Information and Industrialisation in Africa},
author = {Simplice A. Asongu, Nicholas M. Odhiambo},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Remittances-the-Diffusion-of-Information-and-Industrialisation-in-Africa.pdf},
year = {2019},
date = {2019-05-11},
abstract = {This study examines the role of information and communication technology (ICT) on remittances for industrialisation in a panel of 49 African countries for the period 1980-2014. The empirical evidence is based on three simultaneity-robust estimation techniques, namely: (i) Instrumental Fixed Effects (FE) in order to control for the unobserved heterogeneity; (ii) Generalised Method of Moments (GMM) to account for persistence in industrialisation; and (iii) Instrumental Quantile Regressions (QR) to control for initial levels of industrialisation. Our best estimators are from FE and QR estimations because the GMM regression outputs largely fail post-estimation diagnostic tests. The following findings are established: (i) There are positive marginal effects from the interaction between remittances and ICT in the FE regressions whereas there are negative marginal impacts from the interaction between remittances and ICT; (ii) Interactions between remittances and mobile phone penetration are positive in the bottom and 90th quantiles whereas the interaction between internet penetration and remittances is positive in the bottom and top quantiles of the industrialisation distribution. Overall, the role of ICT in remittances for industrialisation is much more apparent when existing levels of industrialisation are accounted for. The findings contribute to the debates on the importance of external flows and information infrastructure in economic growth as well as the relevance of remittances in driving economic development in environments where institutions are weak. The value of the study to scholars and policy makers also builds on the fact that the potential for ICT and remittances in Africa can be leveraged to address development challenges on the continent such as the low level of industrialisation.},
keywords = {Remittances; Industrialisation; ICT; Africa},
pubstate = {published},
tppubtype = {unpublished}
}

@article{Asongu,2019,
title = {Financial liberalization and long-run stability of money demand in Nigeria},
author = {Simplice Asongu, Oludele Folarin},
url = {https://www.sciencedirect.com/science/article/pii/S0161893819300596?via%3Dihub#!},
doi = {10.1016/j.jpolmod.2019.04.005},
year = {2019},
date = {2019-05-11},
journal = {Journal of Policy Modeling },
abstract = {A stable money demand function is essential when using monetary aggregate as a monetary policy. Thus, there is need to examine the stability of the money demand function in Nigeria after the deregulation of the financial sector. To achieve this, the study employed CUSUM (cumulative sum) and CUSUMSQ (CUSUM of square) tests after using autoregressive distributive lag bounds test to determine the existence of a long run relationship between monetary aggregates and their determinants. Results of the study show that a long-run relationship holds and that the demand for money is stable in Nigeria. In addition, the inflation rate is found to be a better proxy for an opportunity variable when compared to interest rate. The main implication of the study is that interest rate is ineffective as a monetary policy instrument in Nigeria.},
keywords = {Stabledemand for moneybounds test},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2019,
title = {Natural Resource Exports, Foreign Aid and Terrorism},
author = {Simplice A. Asongu},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Natural-Resource-Exports-Foreign-Aid-and-Terrorism.pdf},
year = {2019},
date = {2019-05-10},
abstract = {Linkages between foreign aid, terrorism and natural resource (fuel and iron ore) exports are investigated in this study. The focus is on 78 developing countries with data for the period 1984 to 2008. The generalised method of moment is employed as empirical strategy. Three main foreign aid variables are used for the analysis, namely: bilateral aid, multilateral aid and total aid. The corresponding terrorism variables employed are: domestic terrorism, transnational terrorism, unclear terrorism and total terrorism. The following findings are established. First, the criteria informing the validity of specifications corresponding to iron ore exports do not hold. Second, there is evidence of convergence in fuel exports. Third, whereas the unconditional impacts of aid dynamics are not significant, the unconditional impacts of terrorism dynamics are consistently positive on fuel exports. Fourth, the interaction between terrorism and aid dynamics consistently display negative signs, with corresponding modifying aid thresholds within respective ranges. Unexpected signs are elicited and policy implications discussed. Given the unexpected results, an extended analysis is performed in which net effects are computed. These net effects are constitutive of the unconditional effect from terrorism and the conditional impacts from the interaction between foreign aid and terrorism dynamics. Based on the extended analysis, bilateral aid and total aid modulate terrorism dynamics to induce net positive effects on fuel exports while multilateral aid moderates terrorism dynamics to engender negative net effects on fuel exports. The research improves extant knowledge on nexuses between resources, terrorism and foreign aid.},
keywords = {Foreign Aid; Exports; Natural Resources},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2019,
title = {Boosting Quality Education with Inclusive Human Development: Empirical Evidence from Sub-Saharan Africa},
author = {Simplice A. Asongu and Nicholas M. Odhiambo},
url = {https://journals.sagepub.com/eprint/2CACJIUGHDIRUAKJG3ZQ/full},
doi = {10.1177/1936724419846198},
year = {2019},
date = {2019-05-09},
journal = {Journal of Applied Social Science},
abstract = {This study examines the importance of inclusive human development in promoting education quality in a panel of 49 sub-Saharan African countries for the period 2000–2012. The empirical evidence is based on ordinary least squares (OLS), fixed effects (FE), and quantile regression (QR) estimations. It is apparent from the OLS and FE findings that inclusive human development has a negative effect on the outcome variable. This negative effect implies that inclusive human development improves education quality. This result should be understood in the light of the fact that the adopted education variable is a negative economic signal given that it is computed as the ratio of pupils to teachers. Therefore, a higher ratio reflects diminishing education quality. From QR, with the exception of the highest quantile, the tendency of inclusive human development in reducing poor quality education is consistent throughout the conditional distribution of poor education quality. Policy implications are discussed.},
keywords = {Africa, Education, inclusive human development},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2019,
title = {Foreign aid, instability and governance in Africa},
author = {Simplice A. Asongu, Joseph Nnanna },
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Foreign-aid-instability-and-governance-in-Africa.pdf},
year = {2019},
date = {2019-05-01},
journal = {Politics & Policy },
abstract = {This study contributes to the attendant literature by bundling governance dynamics and focusing on foreign aid instability instead of foreign aid. We assess the role of foreign aid instability on governance dynamics in fifty three African countries for the period 1996-2010. An autoregressive endogeneity-robust Generalized Method of Moments is employed. Instabilities are measured in terms of variance of the errors and standard deviations. Three main aid indicators are used, namely: total aid, aid from multilateral donors and bilateral aid. Principal Component Analysis is used to bundle governance indicators, namely: political governance (voice & accountability and political stability/no violence), economic governance (regulation quality and government effectiveness), institutional governance (rule of law and corruption-control) and general governance (political, economic and institutional governance). Our findings show that foreign aid instability increases governance standards, especially political and general governance. Policy implications are discussed.},
keywords = {Instability; Foreign aid; Governance; Development; Africa},
pubstate = {published},
tppubtype = {article}
}

@unpublished{Asongu,2019,
title = {Taxation, foreign aid and political governance in Africa},
author = {Simplice A. Asongu, Nicholas M. Odhiambo},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Taxation-foreign-aid-and-political-governance-in-Africa.pdf},
year = {2019},
date = {2019-04-24},
abstract = {This study examines the hypothesis that foreign aid dilutes the positive role of taxation on political governance. The empirical evidence is based on the Generalised Method of Moments and 53 African countries for the period 1996-2010. For more policy options, the dataset is disaggregated into fundamental characteristics of African development based on income levels, legal origins, natural resources and landlockedness. While the hypothesis is invalid in baseline Africa, low income and English common law countries of the continent, the research cannot conclude on its validity for other fundamental characteristics of development. Policy implications, caveats and directions for future research are discussed.},
keywords = {Foreign Aid; Political Economy; Development; Africa},
pubstate = {published},
tppubtype = {unpublished}
}

@unpublished{Asongu,2019,
title = {Foreign Aid Complementarities and Inclusive Human Development in Africa},
author = {Simplice A. Asongu, Nicholas M. Odhiambo },
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Foreign-aid-complementarities-and-inclusive-development-in-Africa.pdf},
year = {2019},
date = {2019-04-24},
abstract = {This study complements existing literature by assessing how various types of foreign aid complement each other in boosting inclusive human development in Africa. (a) When ‘aid to social infrastructure’ is moderated with other aid types, ‘action on debts’ is substitutive whereas ‘aid to the production sector’, ‘aid for program assistance’ and humanitarian assistance are complementary. (b) ‘Aid to the production sector’ (‘action on debt’) is complementary (substitutive) to ‘aid for economic infrastructure’. (c) Whereas ‘action on debt’ is a substitute to ‘aid to the production sector’, ‘aid for social infrastructure’ and ‘aid for economic infrastructure’ are complementary. (d) ‘Action on debt’ is a substitute for ‘aid to the multi-sector’. (e) While ‘aid for social infrastructure’ and ‘action on debt’ are substitutive to ‘aid for program assistance’; humanitarian assistance is complementary. (f) The following are substitutes to ‘action on debt’: ‘aid for economic infrastructure’, ‘aid to the production sector’, ‘aid to the multi-sector’ and ‘programme assistance’. (g) ‘Aid for social infrastructure’ and ‘programme assistance’ are complementary to humanitarian assistance. The findings reveal various patterns that inform policy makers on the relevance of sequencing aid types to enhance inclusive development. Future research should focus on country-specific studies.},
keywords = {Foreign Aid; Inclusive Development; Africa},
pubstate = {published},
tppubtype = {unpublished}
}

@article{Asongu,2019,
title = {Globalisation and Female Economic Participation in Sub-Saharan Africa},
author = {Asongu, S. A., Efobi, U. R., Tanankem, B. V., & Osabuohien, E. S., },
url = {https://link.springer.com/article/10.1007/s12147-019-09233-3},
doi = {10.1007/s12147-019-09233-3},
year = {2019},
date = {2019-04-24},
journal = {Gender Issues },
abstract = {This study assesses the relationship between globalisation and the economic participation of women (EPW) in 47 Sub-Saharan African countries for the period 1990–2013. EPW is measured with the female labour force participation and employment rates. The empirical evidence is based on panel-corrected standard errors and fixed effects regressions. The findings show that the positive effect of the overall globalisation index on EPW is dampened by its political component and driven by its economic and social components, with a higher positive magnitude from the former or economic globalisation. For the most part, the findings are robust to the control for several structural and institutional characteristics. An extended analysis by unbundling globalisation shows that the positive incidence of social globalisation is driven by information flow (compared to personal contact and cultural proximity) while the positive effect of economic globalisation is driven by actual flows (relative to restrictions). Policy implications are discussed with some emphasis on how to elevate women’s social status and potentially reduce their victimisation to male dominance.},
keywords = {Globalisation; Female; Gender Inequality},
pubstate = {published},
tppubtype = {article}
}