AGDI currently has about 300 publications.
2016 |
|
601. | Asongu, Jacinta Nwachukwu Simplice C A Journal of Economic Studies, 43 (1), pp. 141 - 164, 2016. Abstract | Links | BibTeX | Tags: Africa, Development, Lilfelong learning, Stability @article{Asongu_589, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://dx.doi.org/10.1108/JES-06-2014-0087}, doi = {10.1108/JES-06-2014-0087}, year = {2016}, date = {2016-01-12}, journal = {Journal of Economic Studies}, volume = {43}, number = {1}, pages = {141 - 164}, abstract = {Purpose – Education as a weapon in the fight against conflict and violence remains widely debated in policy and academic circles. Against the background of growing political instability in Africa and the central role of the knowledge economy in twenty-first century development, this paper provides three contributions to existing literature. The purpose of this paper is to assess how political stability/non-violence is linked to the incremental, synergy and lifelong learning effects of education. Design/methodology/approach – The authors define lifelong learning as the combined knowledge acquired during primary, secondary and tertiary education. Principal component analysis is used to reduce the dimensions of educational and political indicators. An endogeneity robust dynamic system Generalized Methods of Moments is used for the estimations. Findings – The authors establish three main findings. First, education is a useful weapon in the fight against political instability. Second, there is an incremental effect of education in the transition from secondary to tertiary schools. Third, lifelong learning also has positive and synergy effects. This means that the impact of lifelong learning is higher than the combined independent effects of various educational levels. The empirical evidence is based on 53 African countries for the period 1996-2010. Practical implications – A plethora of policy implications are discussed, inter alia: how the drive towards increasing the knowledge economy through lifelong learning can be an effective tool in the fight against violence and political insurgency in Africa. Originality/value – As the continent is nursing knowledge economy ambitions, the paper is original in investigating the determinants of political stability/non-violence from three dimensions of education attainment: the incremental, the lifelong learning and a synergy effect.}, keywords = {Africa, Development, Lilfelong learning, Stability}, pubstate = {published}, tppubtype = {article} } Purpose – Education as a weapon in the fight against conflict and violence remains widely debated in policy and academic circles. Against the background of growing political instability in Africa and the central role of the knowledge economy in twenty-first century development, this paper provides three contributions to existing literature. The purpose of this paper is to assess how political stability/non-violence is linked to the incremental, synergy and lifelong learning effects of education. Design/methodology/approach – The authors define lifelong learning as the combined knowledge acquired during primary, secondary and tertiary education. Principal component analysis is used to reduce the dimensions of educational and political indicators. An endogeneity robust dynamic system Generalized Methods of Moments is used for the estimations. Findings – The authors establish three main findings. First, education is a useful weapon in the fight against political instability. Second, there is an incremental effect of education in the transition from secondary to tertiary schools. Third, lifelong learning also has positive and synergy effects. This means that the impact of lifelong learning is higher than the combined independent effects of various educational levels. The empirical evidence is based on 53 African countries for the period 1996-2010. Practical implications – A plethora of policy implications are discussed, inter alia: how the drive towards increasing the knowledge economy through lifelong learning can be an effective tool in the fight against violence and political insurgency in Africa. Originality/value – As the continent is nursing knowledge economy ambitions, the paper is original in investigating the determinants of political stability/non-violence from three dimensions of education attainment: the incremental, the lifelong learning and a synergy effect. |
602. | Asongu, Jacinta Nwachukwu Simplice C A 2016. Abstract | Links | BibTeX | Tags: Mobile phones; governance; inclusive human development @workingpaper{Asongu_590, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-Role-of-Governance-in-Mobile-Phones-for-Inclusive-Human-Development-in-SSA.pdf}, year = {2016}, date = {2016-01-04}, abstract = {This study assesses the synergy effects of governance in mobile phone penetration for inclusive human development in Sub-Saharan Africa with data for the period 2000-2012 by employing a battery of interactive estimation techniques, namely: Fixed effects (FE), Generalised Method of Moments (GMM) and Tobit regressions. Concepts of political (voice & accountability and political stability/no violence), economic (government effectiveness and regulation quality) and institutional (corruption-control and rule of law) governance are employed. The following findings are established. First, the previously apparent positive correlation between mobile phones and inclusive development can be extended to a positive effect. Second, whereas political governance is overwhelmingly not significant across estimated models, average effects from economic governance are higher relative to institutional governance. Third, on the synergy effects from interactions between mobile phones and governance variables, whereas none are apparent in FE regressions, there are significant synergy effects in GMM and Tobit estimations, notably, from: (i) regulation quality in the former and (ii) political stability, voice & accountability and rule of law in the latter. Fourth, there is consistent evidence of convergence in inclusive human development. Policy implications are discussed.}, keywords = {Mobile phones; governance; inclusive human development}, pubstate = {published}, tppubtype = {workingpaper} } This study assesses the synergy effects of governance in mobile phone penetration for inclusive human development in Sub-Saharan Africa with data for the period 2000-2012 by employing a battery of interactive estimation techniques, namely: Fixed effects (FE), Generalised Method of Moments (GMM) and Tobit regressions. Concepts of political (voice & accountability and political stability/no violence), economic (government effectiveness and regulation quality) and institutional (corruption-control and rule of law) governance are employed. The following findings are established. First, the previously apparent positive correlation between mobile phones and inclusive development can be extended to a positive effect. Second, whereas political governance is overwhelmingly not significant across estimated models, average effects from economic governance are higher relative to institutional governance. Third, on the synergy effects from interactions between mobile phones and governance variables, whereas none are apparent in FE regressions, there are significant synergy effects in GMM and Tobit estimations, notably, from: (i) regulation quality in the former and (ii) political stability, voice & accountability and rule of law in the latter. Fourth, there is consistent evidence of convergence in inclusive human development. Policy implications are discussed. |
603. | Asongu, Bertrand Moulin Simplice A 2016. Abstract | Links | BibTeX | Tags: Financial access; Information asymmetry; ICT @workingpaper{Asongu_591, author = {Bertrand Moulin Simplice A. Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-Role-of-ICT-in-Reducing-Information-Asymmetry-for-Financial-Access.pdf}, year = {2016}, date = {2016-01-04}, abstract = {This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity.}, keywords = {Financial access; Information asymmetry; ICT}, pubstate = {published}, tppubtype = {workingpaper} } This study assesses the role of ICT in complementing private credit bureaus (PCB) and public credit registries (PCR) in reducing information asymmetry for financial access. The empirical evidence is based on Generalised Method of Moments with 53 African countries for the period 2004-2011. The following findings are established. First on financial access: (i) the marginal effects from interactions between ICT and PCR (PCB) are consistently positive (negative); (ii) net effects from interactions are negative with the higher magnitude from PCR and (iii) only thresholds corresponding to interactions between PCR and internet penetration are within range. Second, findings on financial allocation efficiency reveal positive marginal and net effects exclusively for mobile phones and PCR. Third, allocation efficiency may be constrained by increasing financial deposits. Overall, the complementarity between information offices and ICT in boosting financial access is still very limited. Policy implications are discussed with emphasis on improving the engaged complementarity and fighting surplus liquidity. |
604. | Asongu, Jacinta Nwachukwu Simplice C A 2016. Abstract | Links | BibTeX | Tags: Financial Markets; Government Policy; Development @workingpaper{Asongu_592, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Political-Regimes-and-Stock-Market-Performance-in-Africa.pdf}, year = {2016}, date = {2016-01-02}, abstract = {This paper assesses the effect of political institutions on stock market performance in 14 African countries for which stock market data is available for the period 1990-2010. The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology. Political regime channels of democracy, polity and autocracy are instrumented with legal-origins, religious-legacies, income-levels and press-freedom qualities to account for stock market performance dynamics of capitalization, value traded, turnover and number of listed companies. The findings show that countries with democratic regimes enjoy higher levels of financial market development compared to their counterparts with autocratic inclinations. As a policy implication, the role of sound political institutions has important effects on both the degree of competition for public office and the quality of public offices that favour stock market development on the African continent.}, keywords = {Financial Markets; Government Policy; Development}, pubstate = {published}, tppubtype = {workingpaper} } This paper assesses the effect of political institutions on stock market performance in 14 African countries for which stock market data is available for the period 1990-2010. The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology. Political regime channels of democracy, polity and autocracy are instrumented with legal-origins, religious-legacies, income-levels and press-freedom qualities to account for stock market performance dynamics of capitalization, value traded, turnover and number of listed companies. The findings show that countries with democratic regimes enjoy higher levels of financial market development compared to their counterparts with autocratic inclinations. As a policy implication, the role of sound political institutions has important effects on both the degree of competition for public office and the quality of public offices that favour stock market development on the African continent. |
605. | Asongu, John Anyanwu & Vanessa Tchamyou Simplice C S A Information sharing and conditional financial development in Africa 2016. Abstract | Links | BibTeX | Tags: Financial Development, Information Sharing, Quantile regression @workingpaper{Asongu2016g, title = {Information sharing and conditional financial development in Africa}, author = {John Anyanwu & Vanessa Tchamyou C S Simplice A. Asongu}, url = {http://afridev.org/wp-content/uploads/2016/04/Information-sharing-and-conditional-financial-development-in-Africa-4.pdf}, year = {2016}, date = {2016-01-01}, journal = {Information sharing and conditional financial development in Africa}, abstract = {This study examines conditional financial development from information sharing in 53 African countries for the period 2004-2011, using contemporary and non-contemporary quantile regressions (QR) which enable the assessment of the effect of information sharing throughout the conditional distributions of financial development dynamics. The policy relevance of the QR approach builds on the motivation that blanket policies on the role of information sharing in financial development may not be effective unless they are contingent on initial levels of financial development and tailored differently across countries with low, intermediate and high levels of financial development. Information sharing is measured with private credit bureaus (PCB) and public credit registries (PCR) while financial development is proxied with dynamics of depth, efficiency, activity and size. The following findings are established. First, for financial depth, while there is a positive threshold effect from PCR in money supply and liquid liabilities, the effect from PCB is mixed. Second, for financial efficiency, there is a: (i) contemporary positive threshold from PCR and mixed effect from PCB in banking system efficiency and (ii) U-shape and positive threshold from PCR and PCB respectively in financial system efficiency. Third, for financial activity, there are consistent positive thresholds from PCR and PCB in banking system activity and financial system activity. Fourth, there are negative thresholds from PCR and PCB in financial size. Positive thresholds are consistent incremental financial development rewards from PCR and/or PCB with increasing financial development and vice-versa for negative thresholds. Mixed effects are characterised by S-shaped, Kuznets or wave-like patterns. As a main policy implication, initial conditions in financial development are essential to materialise incremental benefits from PCR and PCB. Other policy implications are discussed.}, keywords = {Financial Development, Information Sharing, Quantile regression}, pubstate = {published}, tppubtype = {workingpaper} } This study examines conditional financial development from information sharing in 53 African countries for the period 2004-2011, using contemporary and non-contemporary quantile regressions (QR) which enable the assessment of the effect of information sharing throughout the conditional distributions of financial development dynamics. The policy relevance of the QR approach builds on the motivation that blanket policies on the role of information sharing in financial development may not be effective unless they are contingent on initial levels of financial development and tailored differently across countries with low, intermediate and high levels of financial development. Information sharing is measured with private credit bureaus (PCB) and public credit registries (PCR) while financial development is proxied with dynamics of depth, efficiency, activity and size. The following findings are established. First, for financial depth, while there is a positive threshold effect from PCR in money supply and liquid liabilities, the effect from PCB is mixed. Second, for financial efficiency, there is a: (i) contemporary positive threshold from PCR and mixed effect from PCB in banking system efficiency and (ii) U-shape and positive threshold from PCR and PCB respectively in financial system efficiency. Third, for financial activity, there are consistent positive thresholds from PCR and PCB in banking system activity and financial system activity. Fourth, there are negative thresholds from PCR and PCB in financial size. Positive thresholds are consistent incremental financial development rewards from PCR and/or PCB with increasing financial development and vice-versa for negative thresholds. Mixed effects are characterised by S-shaped, Kuznets or wave-like patterns. As a main policy implication, initial conditions in financial development are essential to materialise incremental benefits from PCR and PCB. Other policy implications are discussed. |
606. | Asongu, Jacinta Nwachukwu Simplice C A Law, Politics and the Quality of Government in Africa 2016. Abstract | Links | BibTeX | Tags: Law; Politics; Democracy; Government Policy; Development @workingpaper{Asongu2016cd, title = {Law, Politics and the Quality of Government in Africa}, author = {Jacinta Nwachukwu C Simplice A. Asongu}, editor = {African 2016 Governance and Development Institute WP/16/019}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Law-politics-and-the-quality-of-government-in-Africa.pdf}, year = {2016}, date = {2016-01-01}, abstract = {This paper examines interconnections between law, politics and the quality of government in Africa. We investigate whether African democracies enjoy relatively better government quality compared to their counterparts with more autocratic inclinations. The empirical evidence is based on Instrumental variable Two-Stage-Least Squares and Fixed Effects with data from 38 African countries for the period 1994-2010. Political regimes of democracy, polity and autocracy are instrumented with income-levels, legal-origins, religious-dominations and press-freedom to account for government quality dynamics, of corruption-control, government effectiveness, voice and accountability, political-stability, regulation quality and the rule of law. Findings show that democracy has an edge over autocracy while the latter and polity overlap. As a policy implication, democracy once initiated should be accelerated to edge the appeals of authoritarian regimes.}, keywords = {Law; Politics; Democracy; Government Policy; Development}, pubstate = {published}, tppubtype = {workingpaper} } This paper examines interconnections between law, politics and the quality of government in Africa. We investigate whether African democracies enjoy relatively better government quality compared to their counterparts with more autocratic inclinations. The empirical evidence is based on Instrumental variable Two-Stage-Least Squares and Fixed Effects with data from 38 African countries for the period 1994-2010. Political regimes of democracy, polity and autocracy are instrumented with income-levels, legal-origins, religious-dominations and press-freedom to account for government quality dynamics, of corruption-control, government effectiveness, voice and accountability, political-stability, regulation quality and the rule of law. Findings show that democracy has an edge over autocracy while the latter and polity overlap. As a policy implication, democracy once initiated should be accelerated to edge the appeals of authoritarian regimes. |
607. | Asongu, Jacinta Nwachukwu Simplice C A 2016. Abstract | Links | BibTeX | Tags: Uncertainty; Foreign aid; Political Rights; Development; Africa @workingpaper{Asongu2016ce, title = {Is the Threat of Foreign Aid Withdrawal an Effective Deterrent to Political Oppression? Evidence from 53 African Countries}, author = {Jacinta Nwachukwu C Simplice A. Asongu}, editor = {African 2016 Governance and Development Institute WP/16/020}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Threat-of-foreign-aid-withdrawal-and-political-oppression.pdf}, year = {2016}, date = {2016-01-01}, abstract = {This study complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities and the post-Berlin Wall period. The findings show that while foreign aid does not have a significant effect on political rights, foreign aid volatilities do mitigate democracy in recipient countries. Such volatilities could be used by populist parties to promote a neocolonial agenda, instill nationalistic sentiments and consolidate their grip on power. This is especially the case when donors are asking for standards that majority of the population do not want and political leaders are unwilling to implement them. The empirical evidence is based on 53 African countries for the period 1996-2010. As a main policy implication, creating uncertainties in foreign aid for political rights enhancement in African countries may achieve the opposite results. Other implications are discussed including the need for an ‘After Washington consensus’.}, keywords = {Uncertainty; Foreign aid; Political Rights; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } This study complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities and the post-Berlin Wall period. The findings show that while foreign aid does not have a significant effect on political rights, foreign aid volatilities do mitigate democracy in recipient countries. Such volatilities could be used by populist parties to promote a neocolonial agenda, instill nationalistic sentiments and consolidate their grip on power. This is especially the case when donors are asking for standards that majority of the population do not want and political leaders are unwilling to implement them. The empirical evidence is based on 53 African countries for the period 1996-2010. As a main policy implication, creating uncertainties in foreign aid for political rights enhancement in African countries may achieve the opposite results. Other implications are discussed including the need for an ‘After Washington consensus’. |
2015 |
|
608. | Asongu, Vanessa Tchamyou Simplice S A Journal Article Development Finance Agenda, 1 (2), pp. 26-29, 2015. Abstract | BibTeX | Tags: Banking; Mobile Phones; Shadow Economy; Financial Development; Africa @article{Asongu_596, author = {Vanessa Tchamyou S Simplice A. Asongu}, year = {2015}, date = {2015-12-24}, journal = {Development Finance Agenda}, volume = {1}, number = {2}, pages = {26-29}, abstract = {To the best our knowledge, in the first empirical macroeconomic examination of the nexus between financial intermediation and mobile phones, Asongu employs two conflicting financial system definitions in the assessment of how mobile phones have stimulated financial development in Africa. Within the framework of the dominant International Monetary Fund’s International Financial Statistics (2008) definition, mobile phones are established to be negatively associated with financial intermediary dynamics of depth, activity and size. Conversely, when the previously neglected informal financial sector is integrated into the conception, definition and measurement of the financial system, mobile phones are positively (negatively) correlated with the informal (formal) financial intermediation sector. The empirical evidence is based on 52 African countries. Causality in the established linkages has been confirmed in subsequent studies by the same author. At least three policy implications derive from the findings. First, the role of informal financial intermediation is increasing to the detriment of formal financial mechanisms. Second, in order to capture the positive effect of mobile phones on finance, it is imperative to integrate the missing informal financial sector component into the IMF definition of the financial system. Third, it is a wake-up call for more scholarly research on: (i) macroeconomic financial development implications of mobile phone penetration and (ii) monetary policy instruments in the face of burgeoning ‘mobile phone’-oriented financial intermediation.}, keywords = {Banking; Mobile Phones; Shadow Economy; Financial Development; Africa}, pubstate = {published}, tppubtype = {article} } To the best our knowledge, in the first empirical macroeconomic examination of the nexus between financial intermediation and mobile phones, Asongu employs two conflicting financial system definitions in the assessment of how mobile phones have stimulated financial development in Africa. Within the framework of the dominant International Monetary Fund’s International Financial Statistics (2008) definition, mobile phones are established to be negatively associated with financial intermediary dynamics of depth, activity and size. Conversely, when the previously neglected informal financial sector is integrated into the conception, definition and measurement of the financial system, mobile phones are positively (negatively) correlated with the informal (formal) financial intermediation sector. The empirical evidence is based on 52 African countries. Causality in the established linkages has been confirmed in subsequent studies by the same author. At least three policy implications derive from the findings. First, the role of informal financial intermediation is increasing to the detriment of formal financial mechanisms. Second, in order to capture the positive effect of mobile phones on finance, it is imperative to integrate the missing informal financial sector component into the IMF definition of the financial system. Third, it is a wake-up call for more scholarly research on: (i) macroeconomic financial development implications of mobile phone penetration and (ii) monetary policy instruments in the face of burgeoning ‘mobile phone’-oriented financial intermediation. |
609. | Asongu, Voxi Amavilah Antonio Rodríguez Andrés Simplice A Journal of the Knowledge Economy, 6 (4), pp. 1034-1062, 2015. Abstract | Links | BibTeX | Tags: Formal institutions, Knowledge economy Panel data, Principal component analysis (PCA) @article{Asongu_597, author = {Voxi Amavilah Antonio Rodríguez Andrés Simplice A. Asongu}, url = {http://link.springer.com/article/10.1007/s13132-013-0174-3}, doi = {10.1007/s13132-013-0174-3}, year = {2015}, date = {2015-12-22}, journal = {Journal of the Knowledge Economy}, volume = {6}, number = {4}, pages = {1034-1062}, abstract = {Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also employs the World Bank’s four components of the knowledge economy index characteristic of its knowledge for development framework. We estimate panel data models for 22 Middle Eastern and North African and Sub-Saharan African countries over the period 1996–2010. The results show that for this group of countries the enforcement of IPR laws (treaties), although necessary, is not a sufficient condition for a knowledge economy. The results also suggest that other factors are more likely to determine the knowledge economies of these nations. Overall, these findings have important implications for both policy and further research.}, keywords = {Formal institutions, Knowledge economy Panel data, Principal component analysis (PCA)}, pubstate = {published}, tppubtype = {article} } Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also employs the World Bank’s four components of the knowledge economy index characteristic of its knowledge for development framework. We estimate panel data models for 22 Middle Eastern and North African and Sub-Saharan African countries over the period 1996–2010. The results show that for this group of countries the enforcement of IPR laws (treaties), although necessary, is not a sufficient condition for a knowledge economy. The results also suggest that other factors are more likely to determine the knowledge economies of these nations. Overall, these findings have important implications for both policy and further research. |
610. | Efobi, Ibukun Beecroft Simplice Asongu Uchenna African Development Review, 27 (4), pp. 428–442, 2015. Abstract | Links | BibTeX | Tags: Debts; globalisation; inequality; inclusive development; Africa @article{Asongu_598, author = {Ibukun Beecroft Simplice Asongu Uchenna Efobi}, url = {http://onlinelibrary.wiley.com/doi/10.1111/1467-8268.12158/abstract?userIsAuthenticated=false&deniedAccessCustomisedMessage=}, doi = {10.1111/1467-8268.12158}, year = {2015}, date = {2015-12-16}, journal = {African Development Review}, volume = {27}, number = {4}, pages = {428–442}, abstract = {The paper verifies the Azzimonti et al. (2014) conclusions on a sample of 53 African countries for the period 1996–2008. Authors of the underlying study have established theoretical underpinnings for a negative nexus between rising public debt and inequality in OECD nations. We assess the effects of four debt dynamics on Inequality Adjusted Human Development. Instrumental variable and interactive regressions were employed as empirical strategies. Two main findings were established which depend on whether debt is endogenous to or interactive with globalization. First, when external debt is endogenous to globalization, the effect on inclusive human development is negative, whereas when it is interactive with globalization, the effect is positive. This may reflect the false economics of preconditions. The magnitudes of negative estimates from endogenous related effects were higher than the positive marginal interactive effects. Policy implications were discussed in light of the post-2015 development agenda.}, keywords = {Debts; globalisation; inequality; inclusive development; Africa}, pubstate = {published}, tppubtype = {article} } The paper verifies the Azzimonti et al. (2014) conclusions on a sample of 53 African countries for the period 1996–2008. Authors of the underlying study have established theoretical underpinnings for a negative nexus between rising public debt and inequality in OECD nations. We assess the effects of four debt dynamics on Inequality Adjusted Human Development. Instrumental variable and interactive regressions were employed as empirical strategies. Two main findings were established which depend on whether debt is endogenous to or interactive with globalization. First, when external debt is endogenous to globalization, the effect on inclusive human development is negative, whereas when it is interactive with globalization, the effect is positive. This may reflect the false economics of preconditions. The magnitudes of negative estimates from endogenous related effects were higher than the positive marginal interactive effects. Policy implications were discussed in light of the post-2015 development agenda. |