@article{Asongu,2019,
title = {One Bad Turn Deserves Another: How Terrorism Sustains the Addiction to Capital Flight in Africa},
author = {Simplice A. Asongu, Rexon T. Nting, Evans S. Osabuohien},
url = {https://link.springer.com/article/10.1007/s10842-019-00303-6},
doi = {10.1007/s10842-019-00303-6},
year = {2019},
date = {2019-04-17},
journal = {Journal of Industry, Competition and Trade},
abstract = {This inquiry assesses if terrorism sustains the capital flight trap and whether the relationship is affected by varying the levels of governance and globalisation. The empirical evidence is based on interactive generalised method of moments with data from 37 African countries for the period 1996–2010. The following are established: (1) Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. (2) Terrorism sustains the positive effect of the capital flight trap on capital flight. (3) For the most part (especially with regard to political governance), terrorism sustains the addiction to capital flight in above-median governance sub-samples. Policy implications are discussed.},
keywords = {Africa, Capital flight, terrorism},
pubstate = {published},
tppubtype = {article}
}

@unpublished{Asongu,2019,
title = {One bad turn deserves another: how terrorism sustains the addiction to capital flight in Africa},
author = {Simplice A. Asongu, Rexon T. Nting, Evans S. Osabuohien },
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/How-terrorism-sustains-the-addiction-to-capital-flight-in-Africa.pdf},
year = {2019},
date = {2019-04-05},
abstract = {This inquiry assesses if terrorism sustains the capital flight trap and whether the relationship is affected by varying the levels of governance and globalisation. The empirical evidence is based on interactive Generalised Method of Moments with data from 37 African countries for the period 1996-2010. The followings are established. (1) Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. (2) Terrorism sustains the positive effect of the capital flight trap on capital flight. (3) For the most part (especially with regard to political governance), terrorism sustains the addiction to capital flight in above-median governance sub-samples. Policy implications are discussed.},
keywords = {Africa, Capital flight, terrorism},
pubstate = {published},
tppubtype = {unpublished}
}

@article{Asongu,2018,
title = {Aid, Terrorism, and Foreign Direct Investment: Empirical Insight Conditioned on Corruption Control},
author = {Efobi, U., Asongu, S., & Beecroft, I., },
url = {https://www.tandfonline.com/doi/full/10.1080/10168737.2018.1549089},
doi = {10.1080/10168737.2018.1549089},
year = {2018},
date = {2018-11-22},
journal = {International Economics},
abstract = {This paper checks the effect of foreign aid on terrorism–foreign direct investment (FDI) nexus, while considering the extent of domestic corruption control (CC). The empirical evidence is based on a sample of 78 developing countries. The following findings were established: the negative effect of terrorism on FDI is apparent only in countries with higher levels of CC; foreign aid dampens the negative effect of terrorism on FDI only in countries with high level of CC. Also, the result is mixed when foreign aid is subdivided into its bilateral and multilateral components. While our findings are in accordance with the stance that bilateral aid is effective in reducing the adverse effect of terrorism on FDI, we find that multilateral aid also decreases the adverse effect of other forms of terrorism that can neither be classified as domestic or transnational. Policy implications are discussed in the paper.},
keywords = {Foreign aid, foreign investment, terrorism},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2018,
title = {Can Foreign Aid Dampen the Threat of Terrorism to International Trade? Evidence from 78 Developing Countries},
author = {Asongu, S. A., & Leke, I. J., },
url = {http://journals.sagepub.com/eprint/UyXYDcecB7fZRHuKNg6D/full},
doi = {10.1177/0976747918802649 },
year = {2018},
date = {2018-10-30},
journal = {Arthaniti: Journal of Economic Theory and Practice},
abstract = {The study investigates whether development assistance can be used to crowd-out the negative effect of terrorism on international trade. The empirical evidence is based on a panel of 78 developing countries for the period 1984–2008 and quantile regressions. The following main findings are established. First, bilateral aid significantly reduces the negative effect of transnational terrorism on trade in the top quantiles of trade distribution. Second, multilateral aid also significantly mitigates the negative effect of terrorism dynamics on trade in the top quantiles of trade distributions. It follows that it is primarily in countries with above-median levels of international trade that development assistance can be used as an effective policy tool for dampening the adverse effects of terrorism on trade. Practical implications are discussed. Moreover, steps or strategies that can be adopted by managers of corporations involved in international trade are provided, inter alia: (a) the improvement in physical security in high risky places, (b) the reduction of uncertainty linked with politically risky investment environments, (c) the reduction of costs associated with investments in locations that are very likely to be impacted by terrorism, (d) the role of security consultants and (e) the enhancement of security in networks.},
keywords = {Developing countries, Development, Exports, Foreign aid, terrorism},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2018,
title = {Aid in Modulating the Impact of Terrorism on FDI: No Positive Thresholds, No Policy},
author = {Asongu, S. A., Efobi, U. R., Beecroft, I.},
url = {http://www.tandfonline.com/doi/full/10.1080/07360932.2018.1434676},
doi = {10.1080/07360932.2018.1434676},
year = {2018},
date = {2018-02-18},
journal = {Forum for Social Economics },
abstract = {We investigate how foreign aid dampens the effects of terrorism on FDI using interactive quantile regressions. The empirical evidence is based on 78 developing countries for the period 1984–2008. Bilateral and multilateral aid variables are used, while terrorism dynamics entail: domestic, unclear, transnational and total number of terrorist attacks. The main finding is that foreign aid cannot be used as a policy tool to effectively address a hypothetically negative effect of terrorism on FDI. The positive threshold we cannot establish is important for policy makers because it communicates a cut-off point at which foreign aid completely neutralizes the negative effect of terrorism on FDI. From the conditioning information set, we also establish for the most part that the effects of GDP growth, infrastructural development and trade openness are an increasing function of FDI. Policy implications are discussed.},
keywords = {FDI, Foreign aid, Quantile regression, terrorism},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2018,
title = {Mitigating externalities of terrorism on tourism: global evidence from police, security officers and armed service personnel},
author = {Simplice A. Asongu, Jacinta Nwachukwu
},
url = {https://www.tandfonline.com/doi/full/10.1080/13683500.2018.1527825},
doi = {10.1080/13683500.2018.1527825},
year = {2017},
date = {2017-09-29},
journal = {Current Issues in Tourism},
abstract = {In this paper, we investigate the role of security officers, the police and armed service personnel in dampening the effect of terrorism externalities on tourist arrivals. The temporal and geographic scopes are respectively 2010–2015 and 163 countries. Four terrorism measurements are used. They include the number of incidents, injuries, fatalities and property damages. The main findings indicate that armed service personnel can effectively be used to modulate the damaging influence of all four terrorism externalities in order to achieve a positive net effect on tourist arrivals. Conversely, the corresponding moderating role of security officers and the police is not statistically significant. Moreover, violent demonstrations and homicides have a harmful effect on tourist arrivals while the number of incarcerations displays the opposite effect. Policy implications are discussed.},
keywords = {peace, terrorism, tourism},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2017,
title = {When is Foreign Aid Effective in Fighting Terrorism? Threshold Evidence},
author = {Asongu, S. A., & Ssozi, J},
url = {http://www.tandfonline.com/doi/full/10.1080/10168737.2017.1350731},
doi = {10.1080/10168737.2017.1350731},
year = {2017},
date = {2017-07-13},
journal = {International Economic Journal},
abstract = {Building on the previous literature, we assess when foreign aid is effective in fighting terrorism using quantile regressions on a panel of 78 developing countries for the period 1984–2008. Bilateral, multilateral and total aid indicators are used whereas terrorism includes: domestic, transnational, unclear and total terrorism dynamics. We consistently establish that foreign aid (bilateral, multilateral and total) is effective at fighting terrorism exclusively in countries where existing levels of transnational terrorism are highest. This finding is consistent with our theoretical underpinnings because donors have been documented to allocate more aid towards fighting transnational terrorist activities in recipient countries because they are more likely to target their interests. Moreover, the propensity of donor interest at stake is likely to increase with initial levels of transnational terrorism, such that the effect of foreign aid is most significant in recipient countries with the highest levels of transnational terrorism. Policy implications and future research directions are discussed.},
keywords = {Foreign aid, Quantile regression, terrorism},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2017,
title = {Trade, aid and terror},
author = {Simplice Asongu & Oasis Kodila-Tedika},
url = {http://www.emeraldinsight.com/doi/abs/10.1108/IJDI-08-2016-0046},
doi = {10.1108/IJDI-08-2016-0046},
year = {2017},
date = {2017-04-05},
journal = {International Journal of Development Issues},
volume = {16},
number = {1},
pages = {2-24},
abstract = {Purpose
This paper aims to assess the role of foreign aid in reducing the hypothetically negative impact of terrorism on trade using a panel of 78 developing countries with data for the period 1984-2008.

Design/methodology/approach
The empirical evidence is based on interactive generalised method of moment estimations with forward orthogonal deviations. Bilateral, multilateral and total aid dynamics are used, whereas terrorism entails domestic, transnational, unclear and total terrorism dynamics.

Findings
The following findings have been established. First, while bilateral aid has no significant effect on trade, multilateral aid and total aid have positive impacts. Second total terrorism, domestic terrorism and transnational terrorism increase trade with increasing order of magnitude. Third, corresponding negative marginal effects on the interaction between foreign aid (bilateral and total) and terrorism display thresholds that are within range. Fourth, there is scant evidence of positive net effects. Overall, the findings broadly indicate that foreign aid is a necessary but not a sufficient policy tool for completely dampening the effects of terrorism on trade.

Originality/value
There is a growing policy interest in the relationship between terrorism and international development outcomes.
},
keywords = {Development, Foreign aid, terrorism, Trade Openness},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu,2016,
title = {Conditional linkages between iron ore exports, foreign aid and terrorism},
author = { Simplice A. Asongu, Jacinta C. Nwachukwu},
url = {http://link.springer.com/article/10.1007/s13563-016-0088-1},
doi = {10.1007/s13563-016-0088-1},
year = {2016},
date = {2016-10-05},
journal = {Mineral Economics },
abstract = {We employ interactive quantile regressions to assess conditional linkages between foreign aid, iron ore exports and terrorism from a panel of 78 developing countries for the period of 1984–2008. The following main findings are established. First, it is primarily in the countries with the highest level of iron ore exports that terrorism affects exports. Second, bilateral aid has an impact on iron ore exports, while the evidence for such a relationship between multilateral aid and iron ore exports is limited. Third, there is limited support for the main hypothesis motivating this line of inquiry, notably that foreign aid can be used to mitigate a potentially negative effect of terrorism on resource exports. The results suggest that bilateral aid is more relevant at mitigating the negative effects of domestic and total terrorism on iron ore exports.},
keywords = {Development, Exports, Foreign aid, Natural resources, terrorism},
pubstate = {published},
tppubtype = {article}
}

@workingpaper{Asongu2015b,
title = {How Terrorism Explains Capital Flight from Africa},
author = {Uchenna Efobi, Simplice A. Asongu
},
editor = {2015 African Governance and Development Institute WP/15/034
},
url = {2015 African Governance and Development Institute WP/15/034},
year = {2015},
date = {2015-09-01},
abstract = {We assess the effects of terrorism on capital flight in a panel of 29 African countries for
which data is available for the period 1987-2008. The terrorism dynamics entail domestic,
transnational, unclear and total terrorisms. The empirical evidence is based on Generalised
Method of Moments (GMM) with forward orthogonal deviations and Quantile regressions
(QR). The following findings are established. First, for GMM, domestic, unclear and total
terrorisms consistently increase capital flight, with the magnitude relative higher from unclear
terrorism. Second, for QR: (i) the effect of transnational terrorism is now positively
significant in the top quantiles (0.75th and 0.90th) of the capital flight distribution, (ii)
domestic and total terrorisms are also significant in the top quantiles and (iii) unclear
terrorism is significant in the 0.10th and 0.75th quantiles. Policy implications are discussed. },
keywords = {Africa, Capital flight, terrorism},
pubstate = {published},
tppubtype = {workingpaper}
}