PUBLICATIONS
The AGDI has published substantially in fulfillment of its mission statement of contributing to knowledge towards African development:
IDEAS
http://ideas.repec.org/d/agdiycm.html
ECONSTOR
https://www.econstor.eu/dspace/escollectionhome/10419/123513
Publication List
2016 |
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541. | Asongu, Simplice A Journal of Economic Surveys, 30 (4), pp. 736-755, 2016. Abstract | Links | BibTeX | Tags: Foreign aid; Piketty; Kuznets; Development @article{Asongu_538, author = {Simplice A Asongu}, url = {http://onlinelibrary.wiley.com/doi/10.1111/joes.12109/full}, doi = {10.1111/joes.12109}, year = {2016}, date = {2016-09-01}, journal = {Journal of Economic Surveys}, volume = {30}, number = {4}, pages = {736-755}, abstract = {This survey essay reviews close to 200 papers in arguing that in order to achieve sustainable and inclusive development, foreign aid should not orient developing countries toward industrialization in the perspective of Kuznets but in the view of Piketty. Abandoning the former's view that inequality will fall with progress in industrialization and placing more emphasis on inequality in foreign aid policy will lead to more sustainable development outcomes. Inter alia: mitigate short-term poverty, address concerns of burgeoning population growth, train recipient governments on inclusive development, fight corruption and mismanagement and avoid the shortfalls of celebrated Kuznets’ conjectures. We discuss how the essay addresses post-2015 development challenges and provide foreign aid policy instruments with which discussed objectives can be achieved. In summary, the essay provides useful policy measures to avoid past pitfalls. ‘Output may be growing, and yet the mass of the people may be becoming poorer’ (Lewis). ‘Lewis led all developing countries to water, proverbially speaking, some African countries have so far chosen not to drink’ (Amavilah). Piketty has led all developing countries to the stream again and a challenging policy syndrome of our time is how foreign aid can help them to drink.}, keywords = {Foreign aid; Piketty; Kuznets; Development}, pubstate = {published}, tppubtype = {article} } This survey essay reviews close to 200 papers in arguing that in order to achieve sustainable and inclusive development, foreign aid should not orient developing countries toward industrialization in the perspective of Kuznets but in the view of Piketty. Abandoning the former's view that inequality will fall with progress in industrialization and placing more emphasis on inequality in foreign aid policy will lead to more sustainable development outcomes. Inter alia: mitigate short-term poverty, address concerns of burgeoning population growth, train recipient governments on inclusive development, fight corruption and mismanagement and avoid the shortfalls of celebrated Kuznets’ conjectures. We discuss how the essay addresses post-2015 development challenges and provide foreign aid policy instruments with which discussed objectives can be achieved. In summary, the essay provides useful policy measures to avoid past pitfalls. ‘Output may be growing, and yet the mass of the people may be becoming poorer’ (Lewis). ‘Lewis led all developing countries to water, proverbially speaking, some African countries have so far chosen not to drink’ (Amavilah). Piketty has led all developing countries to the stream again and a challenging policy syndrome of our time is how foreign aid can help them to drink. |
542. | Kodila-Tedika, Simplice Asongu Oasis A German Economic Review, 2016. Abstract | Links | BibTeX | Tags: Human Capital, Intelligence; Economic Diversification @article{Asongu_539, author = {Simplice Asongu A Oasis Kodila-Tedika}, url = {http://onlinelibrary.wiley.com/doi/10.1111/geer.12115/full}, doi = {10.1111/geer.12115}, year = {2016}, date = {2016-09-01}, journal = {German Economic Review}, abstract = {This paper extends the growing literature on knowledge economy by investigating the effect of intelligence on economic diversification. Using a battery of estimation techniques that are robust to endogeneity, we find that human capital has positive correlations with export diversification, manufactured added value and export manufactures. This empirical evidence is based on a world sample of 170 countries for the year 2010. The findings have significant implications for the fight against the Dutch disease. In essence, investing in human capital could bring economic diversity and therefore dampen negative external shocks related to resource-dependence. Other knowledge-economy implications are discussed.}, keywords = {Human Capital, Intelligence; Economic Diversification}, pubstate = {published}, tppubtype = {article} } This paper extends the growing literature on knowledge economy by investigating the effect of intelligence on economic diversification. Using a battery of estimation techniques that are robust to endogeneity, we find that human capital has positive correlations with export diversification, manufactured added value and export manufactures. This empirical evidence is based on a world sample of 170 countries for the year 2010. The findings have significant implications for the fight against the Dutch disease. In essence, investing in human capital could bring economic diversity and therefore dampen negative external shocks related to resource-dependence. Other knowledge-economy implications are discussed. |
543. | Asongu, Jacinta Nwachukwu Simplice C A Empirical Economics, 51 (2), pp. 439-482, 2016. Abstract | Links | BibTeX | Tags: Arab Spring, Economic growth, Political instability, Timing @article{Asongu_540, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://link.springer.com/article/10.1007/s00181-015-1013-0}, doi = {10.1007/s00181-015-1013-0}, year = {2016}, date = {2016-09-01}, journal = {Empirical Economics}, volume = {51}, number = {2}, pages = {439-482}, abstract = {The paper examines whether the Arab Spring phenomenon was predictable by complete elimination in the dispersion of core demands for better governance, more jobs, and stable consumer prices. A methodological innovation of the generalized methods of moments is employed to assess the feasibility and timing of the revolution. The empirical evidence reveals that from a projection date of 2007, the Arab Spring was foreseeable between 2011 and 2012. The paper contributes at the same time to the empirics of predicting revolutions and the scarce literature on modeling the future of socioeconomic events. Caveats and cautions are discussed.}, keywords = {Arab Spring, Economic growth, Political instability, Timing}, pubstate = {published}, tppubtype = {article} } The paper examines whether the Arab Spring phenomenon was predictable by complete elimination in the dispersion of core demands for better governance, more jobs, and stable consumer prices. A methodological innovation of the generalized methods of moments is employed to assess the feasibility and timing of the revolution. The empirical evidence reveals that from a projection date of 2007, the Arab Spring was foreseeable between 2011 and 2012. The paper contributes at the same time to the empirics of predicting revolutions and the scarce literature on modeling the future of socioeconomic events. Caveats and cautions are discussed. |
544. | Asongu, Jacinta Nwachukwu Simplice 2016. Abstract | Links | BibTeX | Tags: Corporate Social Responsibility; Transfer pricing; Extreme poverty @workingpaper{Asongu_541, author = {Jacinta Nwachukwu Simplice Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Transfer-Mispricing-as-an-Argument-for-Corporate-Social-Responsibility.pdf}, year = {2016}, date = {2016-08-31}, abstract = {This article presents a case for transfer mispricing as an argument for Corporate Social Responsibility (CSR). The argument builds on the position that in order to compensate for potential loss of brand image and reputation, Multinational Companies (MNCs) would be more socially responsible when they are operating in countries where the legislation and laws in place are not effective at identifying and sanctioning transfer mispricing. We first discuss the dark side of transfer pricing (TP), next we present the nexus between TP and poverty and finally we advance arguments for CSR in transfer mispricing. While acknowledging that TP is a legal accounting practice, we argue that in view of its poverty and underdevelopment externalities, the practice per se should be a solid justification for CSR because it is also associated with schemes that deprive developing countries of capital essential for investments in health, education and development programmes. Therefore CSR owing to TP cannot be limited to a strategic management approach, but should also be considered as some kind of social justice because of associated transfer mispricing practices. We further argue that, CSR by multinational corporations could incite domestic companies to comply more willingly with their tax obligations and/or engage in similar activities. Whereas, traditional advocates of CSR have employed concepts such as reputation, licence-to-operate, sustainability, moral obligation and innovation to make the case for CSR, the present inquiry extends this stream of literature by arguing that TP and its externalities are genuine justifications for CSR. We consolidate our arguments with a case study of Glencore and the mining industry in the Democratic Republic of Congo.}, keywords = {Corporate Social Responsibility; Transfer pricing; Extreme poverty}, pubstate = {published}, tppubtype = {workingpaper} } This article presents a case for transfer mispricing as an argument for Corporate Social Responsibility (CSR). The argument builds on the position that in order to compensate for potential loss of brand image and reputation, Multinational Companies (MNCs) would be more socially responsible when they are operating in countries where the legislation and laws in place are not effective at identifying and sanctioning transfer mispricing. We first discuss the dark side of transfer pricing (TP), next we present the nexus between TP and poverty and finally we advance arguments for CSR in transfer mispricing. While acknowledging that TP is a legal accounting practice, we argue that in view of its poverty and underdevelopment externalities, the practice per se should be a solid justification for CSR because it is also associated with schemes that deprive developing countries of capital essential for investments in health, education and development programmes. Therefore CSR owing to TP cannot be limited to a strategic management approach, but should also be considered as some kind of social justice because of associated transfer mispricing practices. We further argue that, CSR by multinational corporations could incite domestic companies to comply more willingly with their tax obligations and/or engage in similar activities. Whereas, traditional advocates of CSR have employed concepts such as reputation, licence-to-operate, sustainability, moral obligation and innovation to make the case for CSR, the present inquiry extends this stream of literature by arguing that TP and its externalities are genuine justifications for CSR. We consolidate our arguments with a case study of Glencore and the mining industry in the Democratic Republic of Congo. |
545. | Asongu, Jacinta Nwachukwu Simplice C A 2016. Abstract | Links | BibTeX | Tags: Doctoral education; PhD by Publication; technology transfer; innovation; development @workingpaper{Asongu_542, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/PhD-by-Publication-as-an-argument-for-innovation-and-technology-transfer.pdf}, year = {2016}, date = {2016-08-28}, abstract = {The contribution of African researchers to knowledge by means of scientific publications is low compared to other regions of the world. This paper presents an argument in favour of PhD by Publication as a tool for innovation and technology transfer. Building on the literature on the key role of a knowledge economy in 21st century development and catch-up processes, we argue that: (i) in order for PhD dissertations to be more useful to society, they should be harmonised with scientific publications which centre on improving the design and quality of existing and new products in developing countries. (ii) Obtaining a doctorate degree should not simply be reduced to a change in candidate’s title as is often the case with a traditional thesis. (iii) The PhD by Publication is a more effective route to ensuring that the contribution to knowledge is widely disseminated. The conceptual framework consists primarily of the clarification of the models of PhD by Publication and the linkages between the doctoral education, innovation, technology transfer and development catch-up. Implications for scientific research policies in the light of contemporary challenges to African development are discussed.}, keywords = {Doctoral education; PhD by Publication; technology transfer; innovation; development}, pubstate = {published}, tppubtype = {workingpaper} } The contribution of African researchers to knowledge by means of scientific publications is low compared to other regions of the world. This paper presents an argument in favour of PhD by Publication as a tool for innovation and technology transfer. Building on the literature on the key role of a knowledge economy in 21st century development and catch-up processes, we argue that: (i) in order for PhD dissertations to be more useful to society, they should be harmonised with scientific publications which centre on improving the design and quality of existing and new products in developing countries. (ii) Obtaining a doctorate degree should not simply be reduced to a change in candidate’s title as is often the case with a traditional thesis. (iii) The PhD by Publication is a more effective route to ensuring that the contribution to knowledge is widely disseminated. The conceptual framework consists primarily of the clarification of the models of PhD by Publication and the linkages between the doctoral education, innovation, technology transfer and development catch-up. Implications for scientific research policies in the light of contemporary challenges to African development are discussed. |
546. | Nwachukwu, Vanessa Tchamyou Simplice Asongu Jacinta Journal of Economic Surveys, 2016. Abstract | Links | BibTeX | Tags: Africa;Currency area;Policy coordination @article{Asongu_543, author = {Vanessa Tchamyou Simplice Asongu Jacinta Nwachukwu}, url = {http://onlinelibrary.wiley.com/wol1/doi/10.1111/joes.12174/abstract}, doi = {10.1111/joes.12174}, year = {2016}, date = {2016-08-26}, journal = {Journal of Economic Surveys}, abstract = {This study provides a survey of recent advances in the literature on proposed African monetary unions. The survey comprises about 70 empirical papers published during the past 15 years. Four main strands are discussed individually and collectively. They comprise the proposed: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). We observe a number of issues with establishing the feasibility and/or desirability of potential monetary unions, inter alia, they are variations in: choice of variables, empirical strategies, sampled countries and considered periodicities. We address this ambiguity by reviewing studies with scenarios that are consistent with Hegelian dialectics and establish selective expansion as the predominant mode of monetary integration. Some proponents make cases for strong pegs and institutions as viable alternatives to currency unions. Using cluster analysis, disaggregating panels into sub-samples and distinguishing shocks from responses in the examination of business cycle synchronisation provide more subtle policy implications. We caution that for inquiries using the same theoretical underpinnings, variables and methods just by modifying the scope/context and periodicity may only contribute to increasing the number of conflicting findings. Authors should place more emphasis on new perspectives and approaches based on caveats of, and lessons from the European Monetary Union (EMU) and CFA zones.}, keywords = {Africa;Currency area;Policy coordination}, pubstate = {published}, tppubtype = {article} } This study provides a survey of recent advances in the literature on proposed African monetary unions. The survey comprises about 70 empirical papers published during the past 15 years. Four main strands are discussed individually and collectively. They comprise the proposed: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). We observe a number of issues with establishing the feasibility and/or desirability of potential monetary unions, inter alia, they are variations in: choice of variables, empirical strategies, sampled countries and considered periodicities. We address this ambiguity by reviewing studies with scenarios that are consistent with Hegelian dialectics and establish selective expansion as the predominant mode of monetary integration. Some proponents make cases for strong pegs and institutions as viable alternatives to currency unions. Using cluster analysis, disaggregating panels into sub-samples and distinguishing shocks from responses in the examination of business cycle synchronisation provide more subtle policy implications. We caution that for inquiries using the same theoretical underpinnings, variables and methods just by modifying the scope/context and periodicity may only contribute to increasing the number of conflicting findings. Authors should place more emphasis on new perspectives and approaches based on caveats of, and lessons from the European Monetary Union (EMU) and CFA zones. |
547. | le Nwachukwu, Sara Roux Simplice Asongu Jacinta A C 2016. Abstract | Links | BibTeX | Tags: Terrorism; Inclusive development; Governance; Africa @article{Asongu_544, author = {Sara Roux le Simplice A. Asongu Jacinta C. Nwachukwu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Inclusive-development-military-expenditure-terrorism-governance.pdf}, year = {2016}, date = {2016-08-25}, abstract = {Purpose- The study investigates the role of inclusive human development and military expenditure in modulating the effect of terrorism on governance. Design/methodology/approach- It is based on 53 African countries for the period 1998-2012 and interactive Generalised Method of Moments is employed. Six governance indicators from the World Bank and two terrorism variables are used, namely: domestic and transnational terrorism dynamics. Findings- The following main findings are established. There is a negative net effect on governance (regulation quality and corruption-control) when inclusive human development is used to reduce terrorism. There is a positive net impact on governance (“voice and accountability” and rule of law) when military expenditure is used to reduce domestic terrorism. Originality/value- We have complemented the sparse literature on the use of policy variables to mitigate the effect of policy syndromes on macroeconomic outcomes.}, keywords = {Terrorism; Inclusive development; Governance; Africa}, pubstate = {published}, tppubtype = {article} } Purpose- The study investigates the role of inclusive human development and military expenditure in modulating the effect of terrorism on governance. Design/methodology/approach- It is based on 53 African countries for the period 1998-2012 and interactive Generalised Method of Moments is employed. Six governance indicators from the World Bank and two terrorism variables are used, namely: domestic and transnational terrorism dynamics. Findings- The following main findings are established. There is a negative net effect on governance (regulation quality and corruption-control) when inclusive human development is used to reduce terrorism. There is a positive net impact on governance (“voice and accountability” and rule of law) when military expenditure is used to reduce domestic terrorism. Originality/value- We have complemented the sparse literature on the use of policy variables to mitigate the effect of policy syndromes on macroeconomic outcomes. |
548. | Asongu, Sara Le Roux Simplice A 2016. Abstract | Links | BibTeX | Tags: ICT; Inclusive human development; Africa @workingpaper{Asongu_545, author = {Sara Le Roux Simplice A. Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Enhancing-ICT-for-Inclusive-Human-Development-in-Sub-Saharan-Africa.pdf}, year = {2016}, date = {2016-08-17}, abstract = {This study assesses if increasing information and communication technology (ICT) enhances inclusive human development in a sample of 49 countries in Sub-Saharan Africa for the period 2000-2012. The empirical evidence present in this study, is based on instrumental variable Tobit regressions, in order to account for simultaneity and the limited range in the dependent variable. In the interest of increasing room for policy implications and controlling for the unobserved heterogeneity, the analysis is decomposed into the fundamental characteristics that human development based on: income levels, legal origins, religious dominations, political stability, landlockedness and resource-wealth. Our findings show that policies designed to boost ICT (mobile phone, internet, telephone) penetration will increase inclusive development in the post-2015 sustainable development agenda. The degree of positive responsiveness of inclusive development to ICT varies across fundamental characteristics of human development and ICT dynamics. The study has substantial policy relevance because the adoption and/or penetration rate of ICT can be influenced by policy to achieve inclusive development outcomes. Further policy implications are also discussed.}, keywords = {ICT; Inclusive human development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } This study assesses if increasing information and communication technology (ICT) enhances inclusive human development in a sample of 49 countries in Sub-Saharan Africa for the period 2000-2012. The empirical evidence present in this study, is based on instrumental variable Tobit regressions, in order to account for simultaneity and the limited range in the dependent variable. In the interest of increasing room for policy implications and controlling for the unobserved heterogeneity, the analysis is decomposed into the fundamental characteristics that human development based on: income levels, legal origins, religious dominations, political stability, landlockedness and resource-wealth. Our findings show that policies designed to boost ICT (mobile phone, internet, telephone) penetration will increase inclusive development in the post-2015 sustainable development agenda. The degree of positive responsiveness of inclusive development to ICT varies across fundamental characteristics of human development and ICT dynamics. The study has substantial policy relevance because the adoption and/or penetration rate of ICT can be influenced by policy to achieve inclusive development outcomes. Further policy implications are also discussed. |
549. | Asongu, Julio Mukendi Kayembe Oasis Kodila-Tedika Simplice A International Economic Journal, 2016. Abstract | Links | BibTeX | Tags: Africa, Inequality, middle class, Poverty @article{Asongu_546, author = {Julio Mukendi Kayembe Oasis Kodila-Tedika Simplice A. Asongu}, url = {http://www.tandfonline.com/doi/full/10.1080/10168737.2016.1204340}, doi = {10.1080/10168737.2016.1204340}, year = {2016}, date = {2016-08-16}, journal = {International Economic Journal}, abstract = {This study complements the inclusive growth literature by examining the determinants and consequences of the middle class in a continent where economic growth has been relatively high. The empirical evidence is based on a sample of 33 African countries for a 2010 cross-sectional study. Ordinary least squares, two-stage-least squares, three-stage-least squares and seemingly unrelated regressions estimation techniques are employed to regress a plethora of middle class indicators, notably, the: floating, middle-class with floating, middle-class without floating, lower-middle-income and upper-middle-income categories. Results can be classified into two main strands. First, results on determinants broadly show that GDP per capita and education positively affect all middle class dependent variables. However, we establish a negative nexus for the effect of ethnic fragmentation, political stability in general and partially for economic vulnerability. Simple positive correlations have been observed for: the size of the informal sector, openness and democracy. Second, on the consequences, the middle class enables the accumulation of human and infrastructural capital, while its effect is null on political stability and democracy in the short run but positive for governance and modernisation. Policy implications are discussed.}, keywords = {Africa, Inequality, middle class, Poverty}, pubstate = {published}, tppubtype = {article} } This study complements the inclusive growth literature by examining the determinants and consequences of the middle class in a continent where economic growth has been relatively high. The empirical evidence is based on a sample of 33 African countries for a 2010 cross-sectional study. Ordinary least squares, two-stage-least squares, three-stage-least squares and seemingly unrelated regressions estimation techniques are employed to regress a plethora of middle class indicators, notably, the: floating, middle-class with floating, middle-class without floating, lower-middle-income and upper-middle-income categories. Results can be classified into two main strands. First, results on determinants broadly show that GDP per capita and education positively affect all middle class dependent variables. However, we establish a negative nexus for the effect of ethnic fragmentation, political stability in general and partially for economic vulnerability. Simple positive correlations have been observed for: the size of the informal sector, openness and democracy. Second, on the consequences, the middle class enables the accumulation of human and infrastructural capital, while its effect is null on political stability and democracy in the short run but positive for governance and modernisation. Policy implications are discussed. |
550. | V., Asongu Tchamyou S A S Information Sharing and Financial Sector Development in Africa Journal Article Journal of African Business, 2016. Abstract | Links | BibTeX | Tags: Africa, Banking, Information Sharing @article{Asongu2016d, title = {Information Sharing and Financial Sector Development in Africa}, author = {Asongu S A Tchamyou S. V.}, url = {http://www.tandfonline.com/doi/full/10.1080/15228916.2016.1216233}, doi = {10.1080/15228916.2016.1216233}, year = {2016}, date = {2016-08-13}, journal = {Journal of African Business}, abstract = {This study investigates the effect information sharing has on financial sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of financial sector development are employed, namely: financial sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) financial sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage.}, keywords = {Africa, Banking, Information Sharing}, pubstate = {published}, tppubtype = {article} } This study investigates the effect information sharing has on financial sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of financial sector development are employed, namely: financial sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) financial sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage. |