AGDI currently has about 300 publications.
2015 |
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661. | Asongu, Simplice A International Journal of Social Economics, 42 (7), pp. 666 - 686, 2015. Abstract | Links | BibTeX | Tags: Africa, Health, Human Capital, Migration, Wealth @article{Asongu_642, author = {Simplice A Asongu}, url = {http://dx.doi.org/10.1108/IJSE-12-2013-0287}, doi = {10.1108/IJSE-12-2013-0287}, year = {2015}, date = {2015-07-01}, journal = {International Journal of Social Economics}, volume = {42}, number = {7}, pages = {666 - 686}, abstract = {Purpose – How do economic prosperity, health expenditure, savings, price-stability, demographic change, democracy, corruption control, press freedom, government effectiveness, human development, foreign aid, physical security, trade openness and financial liberalization play-out in the fight against health-worker crisis when existing emigration levels matter? Despite the acute concern of health-worker crisis in Africa owing to emigration, lack of relevant data has made the subject matter empirically void over the last decades. The paper aims to discuss these issues. Design/methodology/approach – A quantile regression approach is used to assess the determinants of health-worker emigration throughout the conditional distributions of health-worker emigration. This provides an assessment of the determinants when existing emigrations levels matter. Findings – Findings provide a broad range of tools for the fight against health-worker brain-drain. As a policy implication, blanket emigration-control policies are unlikely to succeed equally across countries with different levels of emigration. Thus to be effective, immigration policies should be contingent on the prevailing levels of the crisis and tailored differently across countries with the best and worst records on fighting health-worker emigration. Originality/value – This paper has examined the theoretical postulations of a World Health Organization report on determinants of health-worker migration.}, keywords = {Africa, Health, Human Capital, Migration, Wealth}, pubstate = {published}, tppubtype = {article} } Purpose – How do economic prosperity, health expenditure, savings, price-stability, demographic change, democracy, corruption control, press freedom, government effectiveness, human development, foreign aid, physical security, trade openness and financial liberalization play-out in the fight against health-worker crisis when existing emigration levels matter? Despite the acute concern of health-worker crisis in Africa owing to emigration, lack of relevant data has made the subject matter empirically void over the last decades. The paper aims to discuss these issues. Design/methodology/approach – A quantile regression approach is used to assess the determinants of health-worker emigration throughout the conditional distributions of health-worker emigration. This provides an assessment of the determinants when existing emigrations levels matter. Findings – Findings provide a broad range of tools for the fight against health-worker brain-drain. As a policy implication, blanket emigration-control policies are unlikely to succeed equally across countries with different levels of emigration. Thus to be effective, immigration policies should be contingent on the prevailing levels of the crisis and tailored differently across countries with the best and worst records on fighting health-worker emigration. Originality/value – This paper has examined the theoretical postulations of a World Health Organization report on determinants of health-worker migration. |
662. | Asongu, Simplice A International Journal of Social Economics, 42 (6), pp. 543-565, 2015. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_643, author = {Simplice A Asongu}, url = {http://www.emeraldinsight.com/doi/abs/10.1108/IJSE-12-2013-0286?journalCode=ijse}, doi = {10.1108/IJSE-12-2013-0286}, year = {2015}, date = {2015-06-01}, journal = {International Journal of Social Economics}, volume = {42}, number = {6}, pages = {543-565}, abstract = {Purpose – The purpose of this paper is to integrate two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign-aid on institutional development in 53 African countries over the period 1996-2010. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between institutional dynamics and development assistance differs throughout the distributions of institutional dynamics. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice and accountability, control of corruption, political stability and democracy. Findings – Three hypotheses are tested and the following findings are established: first, institutional benefits of foreign-aid are contingent on existing institutional levels in Africa; second, but for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality; third, the institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels. Originality/value – This paper contributes to existing literature on the effectiveness of foreign-aid by focussing on the distribution of the dependent variables (institutional dynamics). It is likely that best and worst countries in terms of institutions respond differently to development assistance.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to integrate two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign-aid on institutional development in 53 African countries over the period 1996-2010. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between institutional dynamics and development assistance differs throughout the distributions of institutional dynamics. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice and accountability, control of corruption, political stability and democracy. Findings – Three hypotheses are tested and the following findings are established: first, institutional benefits of foreign-aid are contingent on existing institutional levels in Africa; second, but for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality; third, the institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels. Originality/value – This paper contributes to existing literature on the effectiveness of foreign-aid by focussing on the distribution of the dependent variables (institutional dynamics). It is likely that best and worst countries in terms of institutions respond differently to development assistance. |
663. | Asongu, Simplice A Managerial Finance, 41 (6), pp. 615-639, 2015. Abstract | Links | BibTeX | Tags: Economic growth, Finance, Meta-analysis, Publication bias @article{Asongu_644, author = {Simplice A Asongu}, url = {http://dx.doi.org/10.1108/MF-09-2013-0249}, doi = {10.1108/MF-09-2013-0249}, year = {2015}, date = {2015-06-01}, journal = {Managerial Finance}, volume = {41}, number = {6}, pages = {615-639}, abstract = {Purpose – The purpose of this paper is to bridge the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. The author assesses the degree of heterogeneity and identify causes of the observed differentiation. Findings – The findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias, and effects of financial activity. A historical justification has also been discussed. Practical implications – Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value – Very few meta-analysis studies have focused on the finance-growth nexus.}, keywords = {Economic growth, Finance, Meta-analysis, Publication bias}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to bridge the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. The author assesses the degree of heterogeneity and identify causes of the observed differentiation. Findings – The findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias, and effects of financial activity. A historical justification has also been discussed. Practical implications – Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value – Very few meta-analysis studies have focused on the finance-growth nexus. |
664. | Asongu, Simplice A European Economic Letters, 5 (1), pp. 1-5, 2015. Abstract | Links | BibTeX | Tags: Foreign Aid; Political Economy; Development; Africa @article{Asongu_645, author = {Simplice A Asongu}, url = {http://eelet.org.uk/EEL4(1)5-10.pdf}, year = {2015}, date = {2015-06-01}, journal = {European Economic Letters}, volume = {5}, number = {1}, pages = {1-5}, abstract = {We assemble more pieces on the puzzle of the aid-corruption nexus. In essence, we extend the debate on the effect of foreign aid on corruption by providing evidence on dynamic effects of wealth, legal origin, religious-domination, regional proximity, openness to sea, natural resources and politico-economic stability. The empirical evidence from dynamic panel GMM estimation is based on 53 African countries for the period 1996-2010. The findings show that the positive effect of foreign aid on corruption is most significant in: Middle-income, French civil-law, Christian-dominated, non-oil exporting and landlocked countries. Moreover, there is also some scanty evidence of foreign aid increasing corruptioncontrol in Lower Middle income and Not-landlocked countries. Justifications for the dynamics are discussed.}, keywords = {Foreign Aid; Political Economy; Development; Africa}, pubstate = {published}, tppubtype = {article} } We assemble more pieces on the puzzle of the aid-corruption nexus. In essence, we extend the debate on the effect of foreign aid on corruption by providing evidence on dynamic effects of wealth, legal origin, religious-domination, regional proximity, openness to sea, natural resources and politico-economic stability. The empirical evidence from dynamic panel GMM estimation is based on 53 African countries for the period 1996-2010. The findings show that the positive effect of foreign aid on corruption is most significant in: Middle-income, French civil-law, Christian-dominated, non-oil exporting and landlocked countries. Moreover, there is also some scanty evidence of foreign aid increasing corruptioncontrol in Lower Middle income and Not-landlocked countries. Justifications for the dynamics are discussed. |
665. | Asongu, Simplice A 2015. Abstract | Links | BibTeX | Tags: Knowledge economy; Benchmarks; Policy syndromes; Catch-up; Africa @workingpaper{Asongu2015bz, title = {The Comparative Economics of Knowledge Economy in Africa: Policy Benchmarks, Syndromes and Implications}, author = {Simplice A Asongu}, editor = {African 2015 Governance and Development Institute WP/15/020}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-Comparative-Economics-of-Knowledge-Economy-in-Africa.pdf}, year = {2015}, date = {2015-06-01}, abstract = {The paper complements the scarce literature on knowledge economy (KE) in Africa by comparing KE dynamics within Africa in order to assess best and worst performers based on fundamental characteristics of the continent’s development. The five dimensions of the World Bank’s knowledge economy index (KEI) are employed, notably: education, information and communication technology, innovation and, economic incentives and institutional regime. The empirical evidence is based on a five-step novel approach with data from 53 African countries for the period 1996-2010. Limitations of the beta catch-up approach are complemented with the sigma convergence strategy. Based on the determined fundamental characteristics, computed dynamic benchmarks, policy syndromes and syndrome free scenarios we establish that: Landlocked, Low-income, Conflict-affected, sub-Saharan African, Non-oil-exporting and French civil law countries are generally more predisposed to lower levels of KE whereas; English common-law, Notlandlocked, Conflict-free, North African and middle-income countries are characteristics that predispose certain nations to higher KE. Broad and specific policy implications are discussed in detail.}, keywords = {Knowledge economy; Benchmarks; Policy syndromes; Catch-up; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The paper complements the scarce literature on knowledge economy (KE) in Africa by comparing KE dynamics within Africa in order to assess best and worst performers based on fundamental characteristics of the continent’s development. The five dimensions of the World Bank’s knowledge economy index (KEI) are employed, notably: education, information and communication technology, innovation and, economic incentives and institutional regime. The empirical evidence is based on a five-step novel approach with data from 53 African countries for the period 1996-2010. Limitations of the beta catch-up approach are complemented with the sigma convergence strategy. Based on the determined fundamental characteristics, computed dynamic benchmarks, policy syndromes and syndrome free scenarios we establish that: Landlocked, Low-income, Conflict-affected, sub-Saharan African, Non-oil-exporting and French civil law countries are generally more predisposed to lower levels of KE whereas; English common-law, Notlandlocked, Conflict-free, North African and middle-income countries are characteristics that predispose certain nations to higher KE. Broad and specific policy implications are discussed in detail. |
666. | Kodila-Tedika, Simplice ASONGU Oasis A Women in Power and Power of Women: the Liberian Experience 2015. Abstract | Links | BibTeX | Tags: Gender; Female politicians; Institutions; Africa; Liberia; Ellen J. Sirleaf. @workingpaper{Kodila-Tedika2015bc, title = {Women in Power and Power of Women: the Liberian Experience}, author = {Simplice ASONGU A Oasis Kodila-Tedika}, editor = {African 2015 Governance and Development Institute WP/15/021}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Women-in-Power-and-Power-of-Women.-The-Liberian-Experience.pdf}, year = {2015}, date = {2015-06-01}, abstract = {Do women really improve conditions for gender equality after becoming heads of states? This study investigates if having a woman at the helm of country’s decision making processes leads to better indicators on women conditions. Using time series observations for the period 2000-2011, we test the hypothesis with the Liberian experience. Our findings do not show significant changes between the first mandate of Ellen Johnson Sirleaf and the period before. Policy implications are discussed.}, keywords = {Gender; Female politicians; Institutions; Africa; Liberia; Ellen J. Sirleaf.}, pubstate = {published}, tppubtype = {workingpaper} } Do women really improve conditions for gender equality after becoming heads of states? This study investigates if having a woman at the helm of country’s decision making processes leads to better indicators on women conditions. Using time series observations for the period 2000-2011, we test the hypothesis with the Liberian experience. Our findings do not show significant changes between the first mandate of Ellen Johnson Sirleaf and the period before. Policy implications are discussed. |
667. | Asongu, Simplice A 2015. Abstract | Links | BibTeX | Tags: Quality of growth; Development; Education; Health @workingpaper{Asongu2015b_26, title = {Welfare Spending and Quality of Growth in Developing Countries: Evidence from Hopefuls, Contenders and Best Performers}, author = {Simplice A Asongu}, editor = {African 2015 Governance and Development Institute WP/15/022}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Welfare-Spending-and-Quality-of-Growth-in-Developing-Countries.pdf}, year = {2015}, date = {2015-06-01}, abstract = {The transition from the Millennium Development Goals (MDGs) to Sustainable Development Goals (SDGs) has shifted the policy debate from growth to ‘quality of growth’ (QG). The April 2015 World Bank publication on MDGs extreme poverty targets has revealed that poverty has been decreasing in all regions of the world with the exception of Sub-Saharan Africa (SSA). We explore a new dataset on QG by the IMF and classify 93 developing countries for the period 1990-2011 in terms of Hopefuls, Contenders and Best Performers. Preliminary findings reveal that 31 of the 33 countries in the Hopefuls category are in SSA. We build on stylized facts depicting the contradiction between high-growth and poor social welfare, and assess the determinants of education and health spending on the QG using quantile regressions to articulate least and best QG performers. The following findings are established. First, on average, the effect of health (education) is decreasingly (increasingly) positive from Hopefuls to Best Performers. Second, on within categories: (1) health spending has positive threshold effects with decreasing magnitude among Hopefuls (0.10th to 0.30th quantiles) and Contenders (0.40th to 0.60th quantile), and positive effects with increasing magnitude among Best Performers (0.10th to 0.90th quantile) and (2) education spending has positive inverted U-shaped effects among Hopefuls and Contenders and positive U-shaped effects among Best Performers. Policy implications are discussed.}, keywords = {Quality of growth; Development; Education; Health}, pubstate = {published}, tppubtype = {workingpaper} } The transition from the Millennium Development Goals (MDGs) to Sustainable Development Goals (SDGs) has shifted the policy debate from growth to ‘quality of growth’ (QG). The April 2015 World Bank publication on MDGs extreme poverty targets has revealed that poverty has been decreasing in all regions of the world with the exception of Sub-Saharan Africa (SSA). We explore a new dataset on QG by the IMF and classify 93 developing countries for the period 1990-2011 in terms of Hopefuls, Contenders and Best Performers. Preliminary findings reveal that 31 of the 33 countries in the Hopefuls category are in SSA. We build on stylized facts depicting the contradiction between high-growth and poor social welfare, and assess the determinants of education and health spending on the QG using quantile regressions to articulate least and best QG performers. The following findings are established. First, on average, the effect of health (education) is decreasingly (increasingly) positive from Hopefuls to Best Performers. Second, on within categories: (1) health spending has positive threshold effects with decreasing magnitude among Hopefuls (0.10th to 0.30th quantiles) and Contenders (0.40th to 0.60th quantile), and positive effects with increasing magnitude among Best Performers (0.10th to 0.90th quantile) and (2) education spending has positive inverted U-shaped effects among Hopefuls and Contenders and positive U-shaped effects among Best Performers. Policy implications are discussed. |
668. | Kodila-Tedika, Simplice ASONGU Oasis A An Empirical Note on Tribalism and Government Effectiveness 2015. Abstract | Links | BibTeX | Tags: Government effectiveness, Institutions, Tribalism @workingpaper{Kodila-Tedika2015bd, title = {An Empirical Note on Tribalism and Government Effectiveness}, author = {Simplice ASONGU A Oasis Kodila-Tedika}, editor = {African 2015 Governance and Development Institute WP/15/023}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/An-Empirical-Note-on-Tribalism-and-Government-Effectiveness.pdf}, year = {2015}, date = {2015-06-01}, abstract = {This study assesses the relationship between tribalism (the tribalism index) and government effectiveness (per the World Bank) in 65 countries using cross-sectional data averages from 2000-2010. This study finds that countries with high-tribal populations generally enjoy bad governance in terms of government ineffectiveness. Government ineffectiveness and tribalism are found to mutually reinforce each other in a robust relationship.}, keywords = {Government effectiveness, Institutions, Tribalism}, pubstate = {published}, tppubtype = {workingpaper} } This study assesses the relationship between tribalism (the tribalism index) and government effectiveness (per the World Bank) in 65 countries using cross-sectional data averages from 2000-2010. This study finds that countries with high-tribal populations generally enjoy bad governance in terms of government ineffectiveness. Government ineffectiveness and tribalism are found to mutually reinforce each other in a robust relationship. |
669. | Asongu, Jacinta Nwachukwu & Vanessa Tchamyou Simplice C S A Information Asymmetry and Financial Development Dynamics in Africa 2015. Abstract | Links | BibTeX | Tags: Information Asymmetry; Financial Development @workingpaper{Asongu2015b_27, title = {Information Asymmetry and Financial Development Dynamics in Africa}, author = {Jacinta Nwachukwu & Vanessa Tchamyou C S Simplice A. Asongu}, editor = {African 2015 Governance and Development Institute WP/15/025}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Information-Asymmetry-and-Financial-Development-Dynamics-in-Africa.pdf}, year = {2015}, date = {2015-06-01}, abstract = {We examine policy thresholds of information sharing for financial development in 53 African countries for the period 2004-2011. Public credit registries (PCR) and private credit bureaus (PCB) are used as proxies for reducing information asymmetry whereas financial development includes all financial dimensions identified by the Financial Development and Structure Database (FDSD) of the World Bank, namely: depth, efficiency, activity and size. The empirical evidence is based on interactive Generalised Methods of Moments with forward orthogonal deviations. The following findings are established. First, PCR and PCB have negative effects on financial depth, with the magnitude of the former higher. Second, contrary to PCR which have insignificant effects, PCB has a negative impact on banking system efficiency. Third, PCR and PCB have negative impacts on financial activity, with the magnitude of the latter higher. Moreover, their marginal effects are negative. Fourth, PCR and PCB have positive effects on financial size, with the effect of the former higher. While marginal effects are positive, corresponding thresholds are not within range. Policy implications are discussed.}, keywords = {Information Asymmetry; Financial Development}, pubstate = {published}, tppubtype = {workingpaper} } We examine policy thresholds of information sharing for financial development in 53 African countries for the period 2004-2011. Public credit registries (PCR) and private credit bureaus (PCB) are used as proxies for reducing information asymmetry whereas financial development includes all financial dimensions identified by the Financial Development and Structure Database (FDSD) of the World Bank, namely: depth, efficiency, activity and size. The empirical evidence is based on interactive Generalised Methods of Moments with forward orthogonal deviations. The following findings are established. First, PCR and PCB have negative effects on financial depth, with the magnitude of the former higher. Second, contrary to PCR which have insignificant effects, PCB has a negative impact on banking system efficiency. Third, PCR and PCB have negative impacts on financial activity, with the magnitude of the latter higher. Moreover, their marginal effects are negative. Fourth, PCR and PCB have positive effects on financial size, with the effect of the former higher. While marginal effects are positive, corresponding thresholds are not within range. Policy implications are discussed. |
670. | Kodila-Tedika, Simplice Asongu Oasis A Intelligence, Human Capital and HIV/AIDS: Fresh Exploration 2015. Abstract | Links | BibTeX | Tags: Health; Human capital; Intelligence @workingpaper{Kodila-Tedika2015be, title = {Intelligence, Human Capital and HIV/AIDS: Fresh Exploration}, author = {Simplice Asongu A Oasis Kodila-Tedika}, editor = {African 2015 Governance and Development Institute WP/15/027}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Intelligence,_Human_Capital_and_HIVAIDS.pdf}, year = {2015}, date = {2015-06-01}, abstract = {This study complements existing literature on the relationship between HIV/AIDS and human capital by introducing previously unexplored indicators as well as more robust empirical strategies. The overarching purpose is to assess whether previous findings on the relationship withstand empirical scrutiny when alternative indicators and methodologies are employed. Four main HIV/AIDS measurements are regressed on intelligence for a maximum of 195 cross-sectional averages over the past decade. The empirical evidence is based on OLS, IWLS and 2SLS. The following findings are established. First, human capital decreases HIV prevalence with the magnitude on ‘Women’s share of population ages 15+ living with HIV’ substantially higher. This implies improving average human capital levels across communities would be more beneficial to girls above the age of 15 living with HIV. The relatively similar negative magnitudes across other dependent variables implies that increasing human capital decreases deaths from HIV/AIDS by almost the same rate as it reduces infections to the disease. Moreover, the HIV infection rate in children between the ages of 0 and 14 does not significantly change with human capital improvements. More policy implications are discussed.}, keywords = {Health; Human capital; Intelligence}, pubstate = {published}, tppubtype = {workingpaper} } This study complements existing literature on the relationship between HIV/AIDS and human capital by introducing previously unexplored indicators as well as more robust empirical strategies. The overarching purpose is to assess whether previous findings on the relationship withstand empirical scrutiny when alternative indicators and methodologies are employed. Four main HIV/AIDS measurements are regressed on intelligence for a maximum of 195 cross-sectional averages over the past decade. The empirical evidence is based on OLS, IWLS and 2SLS. The following findings are established. First, human capital decreases HIV prevalence with the magnitude on ‘Women’s share of population ages 15+ living with HIV’ substantially higher. This implies improving average human capital levels across communities would be more beneficial to girls above the age of 15 living with HIV. The relatively similar negative magnitudes across other dependent variables implies that increasing human capital decreases deaths from HIV/AIDS by almost the same rate as it reduces infections to the disease. Moreover, the HIV infection rate in children between the ages of 0 and 14 does not significantly change with human capital improvements. More policy implications are discussed. |