AGDI currently has about 300 publications.
2017 |
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| 1. | Simplice A. Asongu, Jacinta Nwachukwu C Building Knowledge Economies in Africa: A Survey of Policies and Strategies Unpublished 2017. Abstract | Links | BibTeX | Tags: Knowledge economy; Development; Africa @unpublished{Asongu,2017, title = {Building Knowledge Economies in Africa: A Survey of Policies and Strategies}, author = {Simplice A. Asongu , Jacinta C. Nwachukwu }, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Building-Knowledge-Economies-in-Africa.A-Survey-of-Policies-and-Strategies.pdf}, year = {2017}, date = {2017-06-18}, abstract = {Compared to other regions of the world, Africa is lagging in its drive toward knowledge-based economies. This study surveys the literature in order to highlight the policies and strategies with which African countries can accelerate their current drive towards knowledge economies. These are discussed in terms of the four pillars of the World Bank’s knowledge economy framework. They are the indices for: (i) education and skilled population, (ii) information and communication technology, (iii) economic incentives and institutional regime and (iv) innovation systems.}, keywords = {Knowledge economy; Development; Africa}, pubstate = {published}, tppubtype = {unpublished} } Compared to other regions of the world, Africa is lagging in its drive toward knowledge-based economies. This study surveys the literature in order to highlight the policies and strategies with which African countries can accelerate their current drive towards knowledge economies. These are discussed in terms of the four pillars of the World Bank’s knowledge economy framework. They are the indices for: (i) education and skilled population, (ii) information and communication technology, (iii) economic incentives and institutional regime and (iv) innovation systems. |
| 2. | Simplice Asongu Jacinta Nwachukwu, Vanessa Tchamyou A summary of a survey on proposed African monetary unions Journal Article Development Finance Agenda, 3 (2), pp. 12-18 , 2017. Abstract | Links | BibTeX | Tags: Currency Area; Policy Coordination; Africa @article{Asongu,2017, title = {A summary of a survey on proposed African monetary unions}, author = {Simplice Asongu, Jacinta Nwachukwu, Vanessa Tchamyou}, url = {https://journals.co.za/content/journal/10520/EJC-79bd5dd55 }, year = {2017}, date = {2017-06-16}, journal = {Development Finance Agenda}, volume = {3}, number = {2}, pages = {12-18 }, abstract = {This review summarises a survey of about 70 empirical studies on proposed African monetary unions published during the past fifteen years. Four main strands are outlined in four tables. They include the: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). A number of concerns are apparent from the feasibility and/or desirability of potential monetary unions. They are variations in: empirical strategies, selection of variables, considered periodicities and sampled countries. The Hegelian dialectics are used to establish selective expansion as the predominant mode of monetary integration. Some studies make the case for strong institutions and pegs as alternatives to currency unions. The employment of cluster analysis, distinguishing shocks from responses in the examination of business cycle synchronisation and the disaggregation of panels into sub-samples provide more subtle policy implications.}, keywords = {Currency Area; Policy Coordination; Africa}, pubstate = {published}, tppubtype = {article} } This review summarises a survey of about 70 empirical studies on proposed African monetary unions published during the past fifteen years. Four main strands are outlined in four tables. They include the: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). A number of concerns are apparent from the feasibility and/or desirability of potential monetary unions. They are variations in: empirical strategies, selection of variables, considered periodicities and sampled countries. The Hegelian dialectics are used to establish selective expansion as the predominant mode of monetary integration. Some studies make the case for strong institutions and pegs as alternatives to currency unions. The employment of cluster analysis, distinguishing shocks from responses in the examination of business cycle synchronisation and the disaggregation of panels into sub-samples provide more subtle policy implications. |
| 3. | Antonio R. Andrés Voxi Amavilah, & Simplice Asongu Linkages between Formal Institutions, ICT Adoption and Inclusive Human Development in Sub Saharan Africa Book Chapter Harleen Kaur Ewa Lechman, Adam Marszk (Ed.): Chapter Chapter 10, Springer International Publishing, First edition , 2017, ISBN: 978-3-319-56522-4. Abstract | Links | BibTeX | Tags: cross-country analysis, Formal institutions, ICT adoption, panel data models @inbook{Asongu,2017, title = {Linkages between Formal Institutions, ICT Adoption and Inclusive Human Development in Sub Saharan Africa}, author = {Antonio R. Andrés, Voxi Amavilah, & Simplice Asongu }, editor = {Harleen Kaur, Ewa Lechman, Adam Marszk}, url = {http://www.springer.com/us/book/9783319565224}, doi = {10.1007/978-3-319-56523-1}, isbn = {978-3-319-56522-4}, year = {2017}, date = {2017-06-13}, publisher = {Springer International Publishing}, edition = {First edition }, chapter = {Chapter 10}, abstract = {Using data for 49 African countries over the years spanning 2000-2012, and controlling for a wide range of factors, this study empirically assesses the effects of formal institutions on ICT adoption in developing countries. It deploys 2SLS and FE regression models, (a) to estimate what determines ICT adoption and (b) to trace how ICT adoption affects inclusive development. The results show that formal institutions affect ICT adoption in this group of countries, with government effectiveness having the largest positive effect and regulations the largest negative effect. Generally, formal institutions appear more important to ICT adoption in low income countries than middle income countries, whereas population and economic growth tend to constrain ICT adoption with low income countries more negatively affected than middle income countries. The results further demonstrate that ICT adoption affects development strongly, and that such effects are comparable to those of domestic credit and foreign direct investment. Ceteris paribus, external factors like foreign aid are more limiting to inclusive development than internal factors. This suggests that developing countries can enhance their ICT adoption for development by improving formal institutions and by strengthening domestic determinants of ICT adoption. Both represent opportunities for further research. }, keywords = {cross-country analysis, Formal institutions, ICT adoption, panel data models}, pubstate = {published}, tppubtype = {inbook} } Using data for 49 African countries over the years spanning 2000-2012, and controlling for a wide range of factors, this study empirically assesses the effects of formal institutions on ICT adoption in developing countries. It deploys 2SLS and FE regression models, (a) to estimate what determines ICT adoption and (b) to trace how ICT adoption affects inclusive development. The results show that formal institutions affect ICT adoption in this group of countries, with government effectiveness having the largest positive effect and regulations the largest negative effect. Generally, formal institutions appear more important to ICT adoption in low income countries than middle income countries, whereas population and economic growth tend to constrain ICT adoption with low income countries more negatively affected than middle income countries. The results further demonstrate that ICT adoption affects development strongly, and that such effects are comparable to those of domestic credit and foreign direct investment. Ceteris paribus, external factors like foreign aid are more limiting to inclusive development than internal factors. This suggests that developing countries can enhance their ICT adoption for development by improving formal institutions and by strengthening domestic determinants of ICT adoption. Both represent opportunities for further research. |
| 4. | Asongu S. A, Nwachukwu J C The Impact of Terrorism on Governance in African Countries Journal Article World Development , 2017. Abstract | Links | BibTeX | Tags: Terrorism; Governance; Africa @article{Asongu,2017, title = {The Impact of Terrorism on Governance in African Countries}, author = {Asongu, S. A, Nwachukwu, J. C }, url = {http://www.sciencedirect.com/science/article/pii/S0305750X17301857}, doi = {10.1016/j.worlddev.2017.05.023}, year = {2017}, date = {2017-06-09}, journal = {World Development }, abstract = {This study investigates how terrorism affects governance in 53 African countries for the period 1998–2012. Four terrorism indicators are used namely: domestic, transnational, unclear, and total terrorism. Ten bundled and unbundled governance indicators are also employed namely: political governance (consisting of political stability and voice and accountability), economic governance (encompassing government effectiveness and regulation quality); institutional governance (entailing corruption-control and the rule of law), and general governance. The governance indicators are bundled by means of principal component analysis. The empirical evidence is based on Generalized Method of Moments. Three key findings are established. First, all selected terrorism dynamics negatively affect political governance and its constituents. Second, evidence of a negative relationship is sparingly apparent in economic governance and its components. Third, no proof was confirmed in relation to the impact of terrorism and institutional governance with its elements. Fourth, compared with domestic terrorism, transnational terrorism more negatively and significantly affects political, economic, and general governances. Policy implications are discussed.}, keywords = {Terrorism; Governance; Africa}, pubstate = {published}, tppubtype = {article} } This study investigates how terrorism affects governance in 53 African countries for the period 1998–2012. Four terrorism indicators are used namely: domestic, transnational, unclear, and total terrorism. Ten bundled and unbundled governance indicators are also employed namely: political governance (consisting of political stability and voice and accountability), economic governance (encompassing government effectiveness and regulation quality); institutional governance (entailing corruption-control and the rule of law), and general governance. The governance indicators are bundled by means of principal component analysis. The empirical evidence is based on Generalized Method of Moments. Three key findings are established. First, all selected terrorism dynamics negatively affect political governance and its constituents. Second, evidence of a negative relationship is sparingly apparent in economic governance and its components. Third, no proof was confirmed in relation to the impact of terrorism and institutional governance with its elements. Fourth, compared with domestic terrorism, transnational terrorism more negatively and significantly affects political, economic, and general governances. Policy implications are discussed. |
| 5. | Asongu S. A, Nwachukwu J C Increasing Foreign Aid for Inclusive Human Development in Africa Journal Article Social Indicators Research, 2017. Abstract | Links | BibTeX | Tags: Foreign Aid; Sustainable Development; Africa @article{Asongu,2017, title = {Increasing Foreign Aid for Inclusive Human Development in Africa}, author = {Asongu, S. A, Nwachukwu, J. C }, url = {https://link.springer.com/article/10.1007/s11205-017-1668-3}, doi = {10.1007/s11205-017-1668-3}, year = {2017}, date = {2017-06-08}, journal = {Social Indicators Research}, abstract = {In the light of evidence that poverty has been decreasing in all regions of the world with the exception of Africa, where about 45% of countries in sub-Saharan Africa did not achieve the Millennium development goal extreme poverty target, this study assesses whether increasing foreign aid improves inclusive human development. The investigation is on 53 African countries for the period 2005–2012. The empirical analysis is based on (1) the generalised method of moments (GMM) to control for persistence in inclusive human development, simultaneity and time-invariant omitted variables and (2) Instrumental Variable Tobit Regressions to control for simultaneity and the limited range in the dependent variable. The adopted foreign aid variables are: ‘humanitarian assistance’, ‘action on debt’ ‘aid for social infrastructure’, ‘aid to the productive sector’, ‘aid to the multi sector’, ‘aid for economic infrastructure’ and ‘programme assistance’. The following findings are established. From the GMM specifications, there are (1) synergy effects from ‘aid to the productive sector’ and a positive net effect from ‘programme assistance’ and (2) negative net impacts from ‘aid to social infrastructure’ and human assistance, albeit with positive marginal effects. From Instrumental Variable Tobit regressions (1) there is a synergy effect from ‘aid for economic infrastructure’ and (2) there are negative net impacts from ‘aid for social infrastructure’, ‘aid to the productive sector’ and human assistance, albeit with positive marginal effects. Policy implications are discussed.}, keywords = {Foreign Aid; Sustainable Development; Africa}, pubstate = {published}, tppubtype = {article} } In the light of evidence that poverty has been decreasing in all regions of the world with the exception of Africa, where about 45% of countries in sub-Saharan Africa did not achieve the Millennium development goal extreme poverty target, this study assesses whether increasing foreign aid improves inclusive human development. The investigation is on 53 African countries for the period 2005–2012. The empirical analysis is based on (1) the generalised method of moments (GMM) to control for persistence in inclusive human development, simultaneity and time-invariant omitted variables and (2) Instrumental Variable Tobit Regressions to control for simultaneity and the limited range in the dependent variable. The adopted foreign aid variables are: ‘humanitarian assistance’, ‘action on debt’ ‘aid for social infrastructure’, ‘aid to the productive sector’, ‘aid to the multi sector’, ‘aid for economic infrastructure’ and ‘programme assistance’. The following findings are established. From the GMM specifications, there are (1) synergy effects from ‘aid to the productive sector’ and a positive net effect from ‘programme assistance’ and (2) negative net impacts from ‘aid to social infrastructure’ and human assistance, albeit with positive marginal effects. From Instrumental Variable Tobit regressions (1) there is a synergy effect from ‘aid for economic infrastructure’ and (2) there are negative net impacts from ‘aid for social infrastructure’, ‘aid to the productive sector’ and human assistance, albeit with positive marginal effects. Policy implications are discussed. |
| 6. | Simplice A. Asongu, Jacinta Nwachukwu C Increasing foreign aid for inclusive human development in Africa Unpublished 2017. Abstract | Links | BibTeX | Tags: Foreign Aid; Sustainable Development; Africa @unpublished{Asongu,2017, title = {Increasing foreign aid for inclusive human development in Africa}, author = {Simplice A. Asongu, Jacinta C. Nwachukwu }, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Increasing-foreign-aid-for-inclusive-human-development.pdf}, year = {2017}, date = {2017-06-07}, abstract = {In the light of evidence that poverty has been decreasing in all regions of the World with the exception of Africa, where about 45 percent of countries in Sub-Saharan Africa did not achieve the Millennium Development Goal (MDG) extreme poverty target. Therefore, this study assesses whether increasing foreign aid improves inclusive human development. The investigation is on 53 African countries for the period 2005-2012. The empirical analysis is based on (i) the Generalised Method of Moments (GMM) to control for persistence in inclusive human development, simultaneity and time-invariant omitted variables and (ii) Instrumental Variable Tobit Regressions to control for simultaneity and the limited range in the dependent variable. The adopted foreign aid variables are: ‘humanitarian assistance’, ‘action on debt’ ‘aid for social infrastructure’, ‘aid to the productive sector’, ‘aid to the multi sector’, ‘aid for economic infrastructure’ and ‘programme assistance’. The following findings are established. From the GMM specifications, there are (i) synergy effects from ‘aid to the productive sector’ and a positive net effect from ‘programme assistance’ and (ii) negative net impacts from ‘aid to social infrastructure’ and human assistance, albeit with positive marginal effects. From Instrumental Variable Tobit regressions (i) there is a synergy effect from ‘aid for economic infrastructure’ and (ii) there are negative net impacts from ‘aid for social infrastructure’, ‘aid to the productive sector’ and human assistance, albeit with positive marginal effects. Policy implications are discussed.}, keywords = {Foreign Aid; Sustainable Development; Africa}, pubstate = {published}, tppubtype = {unpublished} } In the light of evidence that poverty has been decreasing in all regions of the World with the exception of Africa, where about 45 percent of countries in Sub-Saharan Africa did not achieve the Millennium Development Goal (MDG) extreme poverty target. Therefore, this study assesses whether increasing foreign aid improves inclusive human development. The investigation is on 53 African countries for the period 2005-2012. The empirical analysis is based on (i) the Generalised Method of Moments (GMM) to control for persistence in inclusive human development, simultaneity and time-invariant omitted variables and (ii) Instrumental Variable Tobit Regressions to control for simultaneity and the limited range in the dependent variable. The adopted foreign aid variables are: ‘humanitarian assistance’, ‘action on debt’ ‘aid for social infrastructure’, ‘aid to the productive sector’, ‘aid to the multi sector’, ‘aid for economic infrastructure’ and ‘programme assistance’. The following findings are established. From the GMM specifications, there are (i) synergy effects from ‘aid to the productive sector’ and a positive net effect from ‘programme assistance’ and (ii) negative net impacts from ‘aid to social infrastructure’ and human assistance, albeit with positive marginal effects. From Instrumental Variable Tobit regressions (i) there is a synergy effect from ‘aid for economic infrastructure’ and (ii) there are negative net impacts from ‘aid for social infrastructure’, ‘aid to the productive sector’ and human assistance, albeit with positive marginal effects. Policy implications are discussed. |
| 7. | Asongu, S A A Survey on Inequality-Adjusted Human Development in Africa Journal Article Africagrowth Agenda, 2017 (1), pp. 4-7, 2017. Abstract | Links | BibTeX | Tags: Inclusive human development; Africa @article{Asongu,2017, title = {A Survey on Inequality-Adjusted Human Development in Africa}, author = {Asongu, S. A }, url = {https://journals.co.za/content/journal/10520/EJC-67c4df122}, year = {2017}, date = {2017-06-05}, journal = {Africagrowth Agenda}, volume = {2017}, number = {1}, pages = {4-7}, abstract = {The survey puts some structure on recent empirical studies from the African Governance and Development institute (AGDI) on inclusive development published between 2016 and 2017 for the most part. The emphasis is exclusively on the inequality adjusted human development index (IHDI) because of the sparse scholarly literature on the indicator which was first published in 2010. The review provides relationships between the IHDI and inter alia: foreign aid, globalisation, information and communication technology, business dynamics and knowledge economy, software piracy, finance, health worker migration and the feasibility of common cross-country policies aimed at improving the IHDI. The survey is of policy relevance because inclusive human development is fundamental to Africa’s growth agenda in the post-2015 sustainable development era.}, keywords = {Inclusive human development; Africa}, pubstate = {published}, tppubtype = {article} } The survey puts some structure on recent empirical studies from the African Governance and Development institute (AGDI) on inclusive development published between 2016 and 2017 for the most part. The emphasis is exclusively on the inequality adjusted human development index (IHDI) because of the sparse scholarly literature on the indicator which was first published in 2010. The review provides relationships between the IHDI and inter alia: foreign aid, globalisation, information and communication technology, business dynamics and knowledge economy, software piracy, finance, health worker migration and the feasibility of common cross-country policies aimed at improving the IHDI. The survey is of policy relevance because inclusive human development is fundamental to Africa’s growth agenda in the post-2015 sustainable development era. |
| 8. | Simplice A. Asongu, Jacinta Nwachukwu C At What Levels of Financial Development Does Information Sharing Matter? Unpublished 2017. Abstract | Links | BibTeX | Tags: Information Sharing; Financial Development; Quantile regression @unpublished{Asongu,2017, title = {At What Levels of Financial Development Does Information Sharing Matter?}, author = {Simplice A. Asongu, Jacinta C. Nwachukwu }, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/At-What-Levels-of-Financial-Development-Does-Information-Sharing-Matter.pdf}, year = {2017}, date = {2017-06-03}, abstract = {The purpose of this study is to investigate how increasing information sharing bureaus affect financial access. For this reason, we have employed contemporary and non-contemporary interactive Quantile Regressions in 53 African countries for the period 2004-2011. Information sharing bureaus are proxied with public credit registries and private credit offices. Financial development dynamics involving depth (at overall economic and financial system levels), efficiency (at banking and financial system levels), activity (from banking and financial system perspectives) and size are used. Two key findings are established. First, the effect of increasing private credit bureaus is not clearly noticeable on financial access, probably because private credit agencies are still to be established in many countries. Second, increasing public credit registries improves financial allocation efficiency and activity (or credit) between the 25th and 75th quartiles for the most part. As a main policy implication, countries in the top (or highest levels of financial development) and bottom (or lowest levels of financial development) ends of the financial efficiency and activity distributions are unlikely to benefit from enhanced financial allocation efficiency owing to increasing public credit registries.}, keywords = {Information Sharing; Financial Development; Quantile regression}, pubstate = {published}, tppubtype = {unpublished} } The purpose of this study is to investigate how increasing information sharing bureaus affect financial access. For this reason, we have employed contemporary and non-contemporary interactive Quantile Regressions in 53 African countries for the period 2004-2011. Information sharing bureaus are proxied with public credit registries and private credit offices. Financial development dynamics involving depth (at overall economic and financial system levels), efficiency (at banking and financial system levels), activity (from banking and financial system perspectives) and size are used. Two key findings are established. First, the effect of increasing private credit bureaus is not clearly noticeable on financial access, probably because private credit agencies are still to be established in many countries. Second, increasing public credit registries improves financial allocation efficiency and activity (or credit) between the 25th and 75th quartiles for the most part. As a main policy implication, countries in the top (or highest levels of financial development) and bottom (or lowest levels of financial development) ends of the financial efficiency and activity distributions are unlikely to benefit from enhanced financial allocation efficiency owing to increasing public credit registries. |
| 9. | Simplice A. Asongu, Jacinta Nwachukwu C The Impact of Terrorism on Governance in African Countries Unpublished 2017. Abstract | Links | BibTeX | Tags: Terrorism; Governance; Africa @unpublished{Asongu,2017, title = {The Impact of Terrorism on Governance in African Countries}, author = {Simplice A. Asongu, Jacinta C. Nwachukwu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-impact-of-terrorism-on-governance-in-Africa.pdf}, year = {2017}, date = {2017-06-03}, abstract = {This study investigates how terrorism affects governance in 53 African countries for the period 1998-2012. Four terrorism indicators are used namely: domestic, transnational, unclear and total terrorism. Ten bundled and unbundled governance indicators are also employed namely: political governance (consisting of political stability and voice and accountability), economic governance (encompassing government effectiveness and regulation quality); institutional governance (entailing corruption-control and the rule of law) and general governance. The governance indicators are bundled by means of principal component analysis. The empirical evidence is based on Generalized Method of Moments. Three key findings are established. First, all selected terrorism dynamics negatively affect political governance and its constituents. Second, evidence of a negative relationship is sparingly apparent in economic governance and its components. Third, no proof was confirmed in relation to the impact of terrorism and institutional governance with its elements. Fourth, compared with domestic terrorism, transnational terrorism more negatively and significantly affects political, economic and general governances. Policy implications are discussed.}, keywords = {Terrorism; Governance; Africa}, pubstate = {published}, tppubtype = {unpublished} } This study investigates how terrorism affects governance in 53 African countries for the period 1998-2012. Four terrorism indicators are used namely: domestic, transnational, unclear and total terrorism. Ten bundled and unbundled governance indicators are also employed namely: political governance (consisting of political stability and voice and accountability), economic governance (encompassing government effectiveness and regulation quality); institutional governance (entailing corruption-control and the rule of law) and general governance. The governance indicators are bundled by means of principal component analysis. The empirical evidence is based on Generalized Method of Moments. Three key findings are established. First, all selected terrorism dynamics negatively affect political governance and its constituents. Second, evidence of a negative relationship is sparingly apparent in economic governance and its components. Third, no proof was confirmed in relation to the impact of terrorism and institutional governance with its elements. Fourth, compared with domestic terrorism, transnational terrorism more negatively and significantly affects political, economic and general governances. Policy implications are discussed. |
| 10. | Oludele E. Folarin, Simplice Asongu A Financial liberalization and long-run stability of money demand in Nigeria Unpublished 2017. Abstract | Links | BibTeX | Tags: Stable; demand for money; bounds test @unpublished{Asongu,2017, title = {Financial liberalization and long-run stability of money demand in Nigeria}, author = {Oludele E. Folarin, Simplice A. Asongu }, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Financial-liberalization-and-long-run-stability-of-money-demand-in-Nigeria.pdf}, year = {2017}, date = {2017-06-03}, 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 squared) tests after using autoregressive distributive lag bounds test to determine the existence of a long run relationship between monetary aggregate and its determinant. 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 = {Stable; demand for money; bounds test}, pubstate = {published}, tppubtype = {unpublished} } 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 squared) tests after using autoregressive distributive lag bounds test to determine the existence of a long run relationship between monetary aggregate and its determinant. 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. |
