@workingpaper{Asongu2012bi,
title = {Fighting software piracy in Africa: how do legal origins and IPRs protection channels matter?},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/016},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Fighting-software-piracy-Africa.-How-do-legal-origins-and-IPRs-channels-matter.pdf},
year = {2012},
date = {2012-07-01},
abstract = {In the current efforts towards harmonizing IPRs regimes in the African continent, this
paper provides answers to four key questions relevant in the policy decision making
processes. After empirically examining the questions, the following findings are established.
(1) In comparison to common law countries, civil law countries inherently have a significant
autonomous rate of software piracy; consistent with the ‘law and property rights’ theory. (2)
But for IPRs laws, the other IP protection channels (WIPO treaties, Main IP law and
multilateral treaties) reduce the incidence of software piracy. (3) In both short-run and longterm,
IPRs protection channels in civil law countries appear to mitigate software piracy more
than in common law countries. (4) Formal institutions are instrumental in the fight against
software piracy through IPRs protection channels.},
keywords = {Software piracy; Intellectual property rights; Panel data; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bj,
title = {Harmonizing IPRs on Software Piracy: Empirics of Trajectories in Africa},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/025},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Harmonizing-IPRs-on-Software-Piracy.pdf},
year = {2012},
date = {2012-07-01},
abstract = {In the current efforts of harmonizing the standards and enforcement of IPRs protection
worldwide, this paper explores software piracy trajectories and dynamics in Africa. Using a
battery of estimation techniques that ignore as well as integrate short-run disturbances in timedynamic
fashion, we answer the big questions policy makers are most likely to ask before
harmonizing IPRs regimes in the battle against software piracy. Three main findings are
established. (1) African countries with low software piracy rates are catching-up their
counterparts with higher rates; implying despite existing divergent IPRs systems, convergence
in piracy rate could be a genuine standard-setting platform. (2) Legal origins do not play a
very significant role in the convergence process. (3) A genuine timeframe for standardizing
IPRs laws in the fight against piracy is most likely between a horizon of 4 to 8 years. In other
words, full (100%) convergence within the specified horizon will mean the enforcements of
IPRs regimes without distinction of nationality and locality. Policy implications and caveats
are discussed.},
keywords = {Software piracy; Intellectual property rights; Panel data; Convergence},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bk,
title = {Financial development dynamic thresholds of financial globalization: evidence from Africa},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/020},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Financial-development-dynamic-thresholds-of-financial-globalization.-Evidence-from-African-countries.pdf},
year = {2012},
date = {2012-06-01},
abstract = {Purpose – The issue of which financial initial conditions are necessary to materialize the
benefits of financial globalization remains open to debate in the literature. In this paper, we try to
put some empirical structure on the concept of financial threshold conditions in order to give
policymakers guidance on the Kose et al. (2011) and Henry (2007) hypothesis. Its object is to
assess if financial benefits of financial globalization are questionable until greater domestic
financial development has taken place in African countries.
Design/methodology/approach – In framing the financial dimension in a more concrete and
tractable manner, we examine the concerns of how domestic financial initial dynamics of depth
(economic and financial systems), efficiency (banking and financial systems), activity (banking
and financial systems) and size, play out in the financial development benefits of financial
globalization. The estimation approach consists of assessing the impact of financial globalization
through-out the conditional distributions of domestic financial development dynamics.
Findings – The introduction of previously missing financial dimensions into the debate
generates a number of important findings. Only financial initial (threshold) conditions of size are
necessary to materialize the benefits of financial globalization. While financial depth only
partially validates the hypothesis, dynamics of efficiency and activity (credit) do not confirm the
hypothesis.
Practical implications – Addressing the issue of surplus liquidity in African financial
institutions could improve the benefits of financial size and potentially reverse the trends of
financial efficiency and activity. Depending on the context of sampled countries, the appropriate
role of policy has always been either to stem the tide of capital flows or encourage them.
Policymakers who have been viewing their challenges exclusively from the latter perspective for
benefits in growth (finance) might be getting the financial dynamics badly wrong.
Originality/value – Blanket financial development policies may not reap the financial benefits
of financial globalization until domestic financial dynamics of depth, efficiency, activity and size are critically considered. The introduction of the last three previously missing components in the
literature sheds more light on the globalization-development nexus.},
keywords = {Banking; International investment; Financial integration; Development},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bl,
title = {Linkages between Investment Flows and Financial Development: Causality Evidence from Selected African Countries},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/029},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Linkages-between-Investment-Flows-and-Financial-development.pdf},
year = {2012},
date = {2012-06-01},
abstract = {Purpose - This paper introduces previously missing financial components(efficiency, activity
and size) in the assessment of the finance-investment nexus.
Design/methodology/approach - VAR models in the perspectives of VECM and short-run
Granger causality are employed. Usage of optimally specified econometric methods in
contradiction to purely discretionary model specifications in mainstream literature.
Findings - Three main findings are established: (1) while finance led investment elasticities
are positive, investment elasticities of finance are negative; (2)but for Guinea Bissau,
Mozambique and Togo, finance does not seem to engender portfolio investment; (3)contrary
to mainstream literature, financial efficiency appears to impact investment more than financial
depth.
Practical implications - Four policy implications result: (1)extreme caution is needed in the
use of single equation analysis for economic forecasts; (2)financial development leads more
to investment flows than the other way round; (3) financial allocation efficiency is more
relevant as means to attracting investment flows than financial depth; (4) the somewhat
heterogeneous character of the findings also point to shortcomings in blanket policies that are
not contingent on country-specific trends in the finance-investment nexus.
Originality/value - (1) Contrary to the mainstream approach we use four measures of
financial intermediary development(depth, efficiency, activity and size) as well as four types
of investment flows(domestic, foreign, portfolio and total). (2) The chosen investment and
financial indicators are derived upon preliminary correlation analysis from the broadest
macroeconomic dataset available on investment and financial intermediary flows.},
keywords = {Financial development; Investment; Causality; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bm,
title = {The Impact of Liberalisation Policies on Inequality in Africa},
author = {Michael Batuo E Simplice A. Asongu},
editor = {African 2012 Governance and Development Institute WP/12/038},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-impact-of-liberalisation-policies-on-inequality-in-Africa.pdf},
year = {2012},
date = {2012-06-01},
abstract = {Despite over three decades of Liberalisation policies in Africa, income-inequality has stayed
persistently high. Using updated panel data of 26 African countries spanning the period 1996-
2010, this study examines the effect of liberalisation policies with particular focus on
financial, trade, institutional, political and economic liberalisations on income-inequality. We
find: that financial liberalisation has a levitated income-redistributive effect with the
magnitude of the de jure measure (KAOPEN) higher than that of the de facto measure (FDI);
that exports, trade and ‘freedom to trade’ have an equality incidence on income-distribution;
and that institutional and political liberalisation has a negative impact. We also find that,
economic freedom has a negative income-redistributive effect possibly because of the weight
of its legal component. The impact of these policies implications are discussed in detail in this
study.},
keywords = {Liberalisation Policies; Income Inequality; Poverty; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bn,
title = {Fighting corruption when existing corruption-control levels count : what do wealth effects tell us?},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/013},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Fighting-corruption-when-existing-corruption-levels-count.-What-do-wealth-effects-tell-us.pdf},
year = {2012},
date = {2012-05-01},
abstract = {Why are some nations more effective at battling corruption than others? Are there
different determinants in the fight against corruption across developing nations? How do wealth
effects play-out when existing corruption-control levels matter in the corruption battle? To
investigate these concerns we examine the determinants of corruption-control throughout the
conditional distribution of the fight against corruption. The following broad findings are
established. (1) Population growth is a(an) tool(impediment) in(to) the fight against corruption in
Low(Middle) income countries. (2) Democracy increases (decreases) corruption-control in
Middle(Low) income countries. As a policy implication, blanket corruption-control strategies are
unlikely to succeed equally across countries with different income-levels and political wills in
the fight against corruption. Thus to be effective, corruption policies should be contingent on the
prevailing levels of corruption-control and income-bracket.},
keywords = {Corruption; Democracy; Government quality; Quantile regression; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2012bo,
title = {How has Mobile Banking Stimulated Financial Development in Africa?},
author = {Simplice A Asongu},
editor = {African 2012 Governance and Development Institute WP/12/027},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/How-has-mobile-banking-stimulated-financial-development-in-Africa.pdf},
year = {2012},
date = {2012-05-01},
abstract = {In the first empirical assessment of the incidence of mobile banking on financial
intermediary development in Africa, we use two definitions of the financial system: the
traditional IFS (2008) and Asongu (2011) measures of financial sector importance. When the
conception of a financial system is based only on banks and other financial institution (IFS,
2008), mobile banking has a negative incidence on traditional financial intermediary
dynamics of depth, activity and size. However, when a previously missing informal-financial
sector component is integrated into the definition (Asongu, 2011), mobile-banking has a
positive incidence on informal financial intermediary development. Three major implications
result from the findings. (1) There is a growing role of informal finance in developing
countries. (2) The incidence of the burgeoning phenomenon of mobile-banking cannot be
effectively assessed at a macroeconomic level by traditional financial development indicators.
(3) It is a wake-up call for scholarly research on informal financial intermediary development
indicators which will oriented monetary policy; since a great chunk of the monetary base(M0)
in less developed countries is now captured by mobile-banking.},
keywords = {Banking; Mobile Phones; Shadow Economy; Financial Development; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}