@workingpaper{Asongu2015bb,
title = {Inequality, Finance and Pro-Poor Investment in Africa},
author = {Vanessa Tchamyou S Simplice A. Asongu},
editor = {African 2015 Governance and Development Institute WP/15/052},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Inequality-finance-and-pro-poor-investment-in-Africa.pdf},
year = {2015},
date = {2015-12-01},
abstract = {This study complements existing literature by investigating how investment-driven finance
affects inequality in Africa. The empirical evidence is based on restricted and unrestricted TwoStage
Least Squares and a pre-crisis periodicity (1980-2002). Inequality is measured with
estimated household income inequality whereas financial development is proxied with financial
depth (money supply and liquid liabilities), financial efficiency (at banking and financial system
levels), financial activity (from banking and financial system perspectives) and financial size.
The findings show that with the exception of foreign investment, financial dynamics of depth,
efficiency, activity and size enhance equalizing income-distribution through domestic, private
and public investment channels. Policy implications are discussed with particular emphasis on
improving inclusive development for the post-2015 sustainable development agenda. Notably, in
the current transition from Millennium Development Goals (MDGs) to Sustainable Development
Goals (SDGs), mobilizing domestic resources for investment purposes may have greater
inclusive benefits than overly reliance on foreign sources of capital.},
keywords = {Finance; Investment; Poverty; Inequality; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011b,
title = {Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/016},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Finance-and-Inequality.-Exploring-Pro-poor-Investment-Channels-in-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {Hitherto very few studies on the inequality-finance(investment) nexus have focused on
the African continent owing to lack of relevant data. This paper integrates previously missing
investment and financial components in the assessment of how finance affects pro-poor
investment channels. Findings reveal, but for the case of foreign investment, financial
development dynamics of depth, efficiency, activity and size have an equalizing effect on
income distribution through private, public and domestic investment channels. As a policy
implication investment-targeted financial reforms that aim to curb poverty should take account of
the disequalizing income-effect of foreign investment in undeveloped countries.},
keywords = {Finance; Investment; Poverty; Inequality; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bj,
title = {Investment and Inequality in Africa: which financial channels are good for the poor?},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/015},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Investment-and-Inequality-in-Africa.-Which-Financial-Channels-are-Good-for-the-Poor.pdf},
year = {2011},
date = {2011-11-01},
abstract = {This paper examines how domestic, foreign, private and public investments affect incomeinequality
through financial intermediary dynamics. With the exception of financial allocation
efficiency, financial channels of depth and activity are good for the poor as they diminish
estimated household income-inequality. Financial size does not have a significant incomeredistributive
effect. Financial efficiency has a disequalizing effect, implying policies designed to
improve the allocation of mobilized funds only benefit the rich to the detriment of the poor. The
use of financial and investment dimensions previously missing in the literature provide new
insights into the finance-inequality nexus. Policy implications are discussed.},
keywords = {Finance; Investment; Poverty; Inequality; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}