@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}
}

@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}
}

@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}
}

@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}
}

@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}
}

@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}
}