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
2014 |
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701. | Kodila-Tedika, Simplice ASONGU & Julio Mukendi Kayembe Oasis A Middle class in Africa: Determinants and Consequences 2014. Abstract | Links | BibTeX | Tags: Poverty; Inequality; Middle class; Africa @workingpaper{Kodila-Tedika2014, title = {Middle class in Africa: Determinants and Consequences}, author = {Simplice ASONGU & Julio Mukendi Kayembe A Oasis Kodila-Tedika}, editor = {African 2014 Governance and Development Institute WP/26/14}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Middle-class-in-Africa.Determinants-and-Consequences.pdf}, year = {2014}, date = {2014-12-01}, 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 crosssectional study. OLS, 2SLS, 3SLS and SUR estimation techniques are employed to regress a plethora of middle class indicators, notably, the: floating, middle-class with floating, middleclass 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 have seen 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 = {Poverty; Inequality; Middle class; Africa}, pubstate = {published}, tppubtype = {workingpaper} } 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 crosssectional study. OLS, 2SLS, 3SLS and SUR estimation techniques are employed to regress a plethora of middle class indicators, notably, the: floating, middle-class with floating, middleclass 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 have seen 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. |
702. | Asongu, Oasis Kodila-Tedika Simplice A Institutions and Poverty: A Critical Comment Based on Evolving Currents and Debates 2014. Abstract | Links | BibTeX | Tags: poverty; institutions @workingpaper{Asongu2014bc, title = {Institutions and Poverty: A Critical Comment Based on Evolving Currents and Debates}, author = {Oasis Kodila-Tedika Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/031}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Institutions-and-Poverty.A-Critical-Comment-Based-on-Evolving-Currents-and-Debates.pdf}, year = {2014}, date = {2014-12-01}, abstract = {Tebaldi & Mohan (2010, JDS) have established an empirical nexus between institutions and monetary poverty. We first, reflect their findings in light of recent development models, debates and currents in post-2010 literature. We then re-examine their results with a nonmonetary and multidimensional poverty indicator first published in 2010. Our findings confirm the negative relationship and the nexus disappears with control for average income. Hence, confirming the conclusions of the underlying study that institutions could have an indirect effect on multidimensional poverty. In other words, the poverty eradication effect of institutions is through income-average as opposed to income-inequality. We discuss the confirmed findings in light of implications to: (1) debates over preferences in economic rights; (2) China’s development/outlook; (3) the Chinese model versus sustainable development; (4) the Fosu conjectures; (5) Piketty’s & Kuznets’ celebrated literatures and (6) future research to ascertain the inequality mechanism.}, keywords = {poverty; institutions}, pubstate = {published}, tppubtype = {workingpaper} } Tebaldi & Mohan (2010, JDS) have established an empirical nexus between institutions and monetary poverty. We first, reflect their findings in light of recent development models, debates and currents in post-2010 literature. We then re-examine their results with a nonmonetary and multidimensional poverty indicator first published in 2010. Our findings confirm the negative relationship and the nexus disappears with control for average income. Hence, confirming the conclusions of the underlying study that institutions could have an indirect effect on multidimensional poverty. In other words, the poverty eradication effect of institutions is through income-average as opposed to income-inequality. We discuss the confirmed findings in light of implications to: (1) debates over preferences in economic rights; (2) China’s development/outlook; (3) the Chinese model versus sustainable development; (4) the Fosu conjectures; (5) Piketty’s & Kuznets’ celebrated literatures and (6) future research to ascertain the inequality mechanism. |
703. | Asongu, Jacinta Nwachukwu Simplice C A Foreign Aid and Governance in Africa 2014. Abstract | Links | BibTeX | Tags: Foreign Aid; Political Economy; Development; Africa @workingpaper{Asongu2014bd, title = {Foreign Aid and Governance in Africa}, author = {Jacinta Nwachukwu C Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/034}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Foreign-aid-and-governance-in-Africa.pdf}, year = {2014}, date = {2014-12-01}, abstract = {Purpose – This paper investigates the effect of foreign aid on governance in order to extend the debates on foreign aid and to verify common positions from Moyo’s ‘Dead Aid’, Collier’s ‘Bottom Billion’ and Eubank’s ‘Somaliland’. The empirical evidence is based on updated data from 52 African countries for the period 1996-2010. Design/methodology/approach – An endogeneity robust instrumental variable Two-Stage-Least Squares empirical strategy is employed. Findings – The findings reveal that development assistance deteriorates economic (regulation quality and government effectiveness) and institutional (corruption-control and rule of law) governance, but has an insignificant effect on political (political stability, voice and accountability) governance. While, these findings are broadly in accordance with Moyo (2009) and Collier (2007) on weak governance, they neither confirm the Eubank (2012) position on political governance nor the Asongu (2012) stance on the aid-corruption nexus in his debate with Okada & Samreth (2012). Practical implications – The use of foreign aid as an instrument to influence the election and replacement of political leaders in Africa may have insignificant results. It is time to solve the second tragedy of foreign aid and that economists and policy makers start rethinking the models and theories on which foreign aid is used to influence economic, institutional and political governance in recipient countries. Originality/value – The paper extends the debate on foreign aid and institutions in Africa in the light a plethora of recent studies in the aid literature.}, keywords = {Foreign Aid; Political Economy; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } Purpose – This paper investigates the effect of foreign aid on governance in order to extend the debates on foreign aid and to verify common positions from Moyo’s ‘Dead Aid’, Collier’s ‘Bottom Billion’ and Eubank’s ‘Somaliland’. The empirical evidence is based on updated data from 52 African countries for the period 1996-2010. Design/methodology/approach – An endogeneity robust instrumental variable Two-Stage-Least Squares empirical strategy is employed. Findings – The findings reveal that development assistance deteriorates economic (regulation quality and government effectiveness) and institutional (corruption-control and rule of law) governance, but has an insignificant effect on political (political stability, voice and accountability) governance. While, these findings are broadly in accordance with Moyo (2009) and Collier (2007) on weak governance, they neither confirm the Eubank (2012) position on political governance nor the Asongu (2012) stance on the aid-corruption nexus in his debate with Okada & Samreth (2012). Practical implications – The use of foreign aid as an instrument to influence the election and replacement of political leaders in Africa may have insignificant results. It is time to solve the second tragedy of foreign aid and that economists and policy makers start rethinking the models and theories on which foreign aid is used to influence economic, institutional and political governance in recipient countries. Originality/value – The paper extends the debate on foreign aid and institutions in Africa in the light a plethora of recent studies in the aid literature. |
704. | Asongu, Antonio Andrés Simplice R A The Impact of Software Piracy on Inclusive Human Development: Evidence from Africa 2014. Abstract | Links | BibTeX | Tags: Instrumental variables, Software piracy; Human development; Intellectual property rights; Panel data @workingpaper{Asongu2014be, title = {The Impact of Software Piracy on Inclusive Human Development: Evidence from Africa}, author = {Antonio Andrés R Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/035}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Software-Piracy-and-Inclusive-Human-Development.pdf}, year = {2014}, date = {2014-12-01}, abstract = {This paper examines two dimensions of the software piracy-development nexus to complement existing formal literature. It empirically assesses the incidence of piracy on the Human Development Index (HDI) and its constituents and then the instrumentality of Intellectual Property Right (IPR) treaties (laws) in the linkages. An instrumental variable or Two-stage least squares is applied on panel of 11 African countries with data for the period 2000-2010. Three main findings are established: (1) software piracy has a negative incidence on inequality adjusted human development; (2) the unappealing effect of piracy on the HDI is fuelled by per capita economic prosperity and life expectancy components of human emancipation; (3) software piracy increases literacy. Two major policy implications have been retained from the findings. Firstly, adherence to international IPRs protection treaties (laws) may not impede per capita economic prosperity and could improve life-expectancy. Secondly, adoption of tight IPRs regimes may negatively affect human development by diminishing the literacy rate and restricting diffusion of knowledge.}, keywords = {Instrumental variables, Software piracy; Human development; Intellectual property rights; Panel data}, pubstate = {published}, tppubtype = {workingpaper} } This paper examines two dimensions of the software piracy-development nexus to complement existing formal literature. It empirically assesses the incidence of piracy on the Human Development Index (HDI) and its constituents and then the instrumentality of Intellectual Property Right (IPR) treaties (laws) in the linkages. An instrumental variable or Two-stage least squares is applied on panel of 11 African countries with data for the period 2000-2010. Three main findings are established: (1) software piracy has a negative incidence on inequality adjusted human development; (2) the unappealing effect of piracy on the HDI is fuelled by per capita economic prosperity and life expectancy components of human emancipation; (3) software piracy increases literacy. Two major policy implications have been retained from the findings. Firstly, adherence to international IPRs protection treaties (laws) may not impede per capita economic prosperity and could improve life-expectancy. Secondly, adoption of tight IPRs regimes may negatively affect human development by diminishing the literacy rate and restricting diffusion of knowledge. |
705. | Asongu, Jacinta Nwachukwu & Gilbert Aminkeng Simplice C A A A China’s Strategies in Economic Diplomacy: A Survey of Updated Lessons for Africa, the West and China 2014. Abstract | Links | BibTeX | Tags: Economic relations; China; Africa @workingpaper{Asongu2014bf, title = {China’s Strategies in Economic Diplomacy: A Survey of Updated Lessons for Africa, the West and China}, author = {Jacinta Nwachukwu & Gilbert Aminkeng C A A Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/036}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/China-diplomatic-strategies-and-lessons-for-Africa.A-Survey.pdf}, year = {2014}, date = {2014-12-01}, abstract = {The Washington consensus, the hitherto dominant scheme is being encroached by the Beijing model. Many African nations are increasingly embracing this Beijing approach because the dominant Western model has failed to deliver on a number of fronts. This is increasingly evident because China’s economic diplomacy has been politely and strategically coined to achieve just that. A case study is used here to articulate the currents of the survey. The paper puts some structure on China’s economic diplomatic strategies and discusses lessons for Africa, China and the West. It contributes to existing literature by critically engaging on why it is necessary for the West to adjust the conception and definition of the Washington Consensus as a complement to the Beijing model. In order to remain relevant in the 21st century and beyond, the Washington consensus can incorporate the Moyo (2013) conjecture which postulates that, while the Beijing model is optimal in the short-run, the Washington Consensus remains the optimal long-term development model because it is more inclusive.}, keywords = {Economic relations; China; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The Washington consensus, the hitherto dominant scheme is being encroached by the Beijing model. Many African nations are increasingly embracing this Beijing approach because the dominant Western model has failed to deliver on a number of fronts. This is increasingly evident because China’s economic diplomacy has been politely and strategically coined to achieve just that. A case study is used here to articulate the currents of the survey. The paper puts some structure on China’s economic diplomatic strategies and discusses lessons for Africa, China and the West. It contributes to existing literature by critically engaging on why it is necessary for the West to adjust the conception and definition of the Washington Consensus as a complement to the Beijing model. In order to remain relevant in the 21st century and beyond, the Washington consensus can incorporate the Moyo (2013) conjecture which postulates that, while the Beijing model is optimal in the short-run, the Washington Consensus remains the optimal long-term development model because it is more inclusive. |
706. | Asongu, Simplice A Sino-African relations: a review and reconciliation of dominant schools of thought 2014. Abstract | Links | BibTeX | Tags: Economic relations; China; Africa @workingpaper{Asongu2014bg, title = {Sino-African relations: a review and reconciliation of dominant schools of thought}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/037}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Sino-African-relations.Review-and-reconciliation-of-dominant-schools-of-thought.pdf}, year = {2014}, date = {2014-12-01}, abstract = {We review about 100 papers on Sino-African relations published during the past 5 years for the most part, in order to put some structure on the existing strands. The literature is classified into dominant schools of thought, namely the: neocolonial or pessimistic; balancedevelopment or optimistic and accommodation schools. After the classification, we reconcile the schools of thought in light of dominant themes and debates on development models, inter alia: (1) pessimists versus (vs) optimists; (2) preferences of rights in development models (economic vs political, national vs human & sovereign vs idiosyncratic); (3) the Washington Consensus vs the Beijing Model and; (4) an African Consensus in both the Washington Consensus and Beijing Model. Both the first and second schools have core values articulated by the New Partnership for Africa’s Development (NEPAD).}, keywords = {Economic relations; China; Africa}, pubstate = {published}, tppubtype = {workingpaper} } We review about 100 papers on Sino-African relations published during the past 5 years for the most part, in order to put some structure on the existing strands. The literature is classified into dominant schools of thought, namely the: neocolonial or pessimistic; balancedevelopment or optimistic and accommodation schools. After the classification, we reconcile the schools of thought in light of dominant themes and debates on development models, inter alia: (1) pessimists versus (vs) optimists; (2) preferences of rights in development models (economic vs political, national vs human & sovereign vs idiosyncratic); (3) the Washington Consensus vs the Beijing Model and; (4) an African Consensus in both the Washington Consensus and Beijing Model. Both the first and second schools have core values articulated by the New Partnership for Africa’s Development (NEPAD). |
707. | ASONGU, Christian NGUENA Simplice L A 2014. Abstract | Links | BibTeX | Tags: Governance; Equity; Sustainable Development; Land Grab @workingpaper{ASONGU2014bh, title = {Equitable and Sustainable Development of Foreign Land Acquisitions: Lessons, Policies and Implications}, author = {Christian NGUENA L Simplice A. ASONGU}, editor = {African 2014 Governance and Development Institute WP/14/038}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Equitable-and-Sustainable-Development-of-Foreign-Land-Acquisitions.pdf}, year = {2014}, date = {2014-12-01}, abstract = {Large-scale agricultural land acquisitions have been covered substantially in recent literature. Despite the wealth of theoretical and empirical studies on this subject, there is no study that has reviewed existing literature in light of concerns over sustainable and equitable management. This chapter fills the gap by analyzing and synthesizing available literature to put some structure on existing knowledge. The paper has a threefold contribution to the literature. First, it takes stock of what we know so far about the determinants of land grab. Second, it presents a picture of sustainable and equitable development of the foreign land acquisitions. Third, policy syndromes are examined and policy implications discussed. Based on the accounts, the issues are not about whether agricultural investments are needed, but on how they can be sustainably and equitably managed to make positive contributions to food security and domestic development.}, keywords = {Governance; Equity; Sustainable Development; Land Grab}, pubstate = {published}, tppubtype = {workingpaper} } Large-scale agricultural land acquisitions have been covered substantially in recent literature. Despite the wealth of theoretical and empirical studies on this subject, there is no study that has reviewed existing literature in light of concerns over sustainable and equitable management. This chapter fills the gap by analyzing and synthesizing available literature to put some structure on existing knowledge. The paper has a threefold contribution to the literature. First, it takes stock of what we know so far about the determinants of land grab. Second, it presents a picture of sustainable and equitable development of the foreign land acquisitions. Third, policy syndromes are examined and policy implications discussed. Based on the accounts, the issues are not about whether agricultural investments are needed, but on how they can be sustainably and equitably managed to make positive contributions to food security and domestic development. |
708. | Kodila-Tedika, Simplice ASONGU Oasis A Does Intelligence Affect Economic Diversification? 2014. Abstract | Links | BibTeX | Tags: Intelligence; Economic Diversification @workingpaper{Kodila-Tedika2014b, title = {Does Intelligence Affect Economic Diversification?}, author = {Simplice ASONGU A Oasis Kodila-Tedika}, editor = {African 2014 Governance and Development Institute WP/14/039}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Does-Intelligence-Affect-Economic-Diversification.pdf}, year = {2014}, date = {2014-12-01}, 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 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 resourcedependence. Other knowledge-economy implications are discussed.}, keywords = {Intelligence; Economic Diversification}, pubstate = {published}, tppubtype = {workingpaper} } 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 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 resourcedependence. Other knowledge-economy implications are discussed. |
709. | Asongu, Simplice A International Journal of Social Economics, 41 (11), pp. 1131 - 1155, 2014. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_677, author = {Simplice A Asongu}, url = {http://dx.doi.org/10.1108/IJSE-01-2013-0014}, doi = {10.1108/IJSE-01-2013-0014}, year = {2014}, date = {2014-11-04}, journal = {International Journal of Social Economics}, volume = {41}, number = {11}, pages = {1131 - 1155}, abstract = {Purpose – The purpose of this paper is to examine whether initial levels in GDP growth, GDP per capita growth and inequality adjusted human development matter in the impact of aid on development. In substance its object is to assess if threshold development conditions are necessary for the effectiveness of foreign aid in Africa. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between development dynamics and development assistance differs throughout the distributions of development dynamics. Findings – Three main findings are established. First, with slight exceptions, the effectiveness of aid in economic prosperity (at the macro level) increases in positive magnitude across the distribution. This implies high-growth countries are more likely to benefit from development assistance (in terms of general economic growth) than their low-growth counterparts. Second, the positive nexus between aid and per capita economic growth displays nonlinear patterns across distributions and specifications, with the correlations broadly higher in top quantiles than in bottom quantiles after controlling for the unobserved heterogeneity. Third, the aid-human development nexus is negative and almost similar in magnitude across distributions and specifications. Practical implications – As a policy implication, there is need to improve management of aid funds destined for health and education projects in the sampled countries. Moreover, given the magnitude of the nexuses, while blanket aid initiatives could be applied for policies targeting the human development index (due to the absence of significant differences in the magnitude of estimated coefficients), such are unlikely to succeed for aid targeting economic prosperity at macro and micro levels. From the weight of the findings, given a policy of balancing the impact of aid, it could be inferred that low-growth countries would need more aid than their high-growth counterparts because of the less positive effects in the former countries. Originality/value – This paper contributes to existing literature on the effectiveness of foreign aid by focussing on the distribution of the dependent variables (development dynamics). It is likely that high- and low-growth countries respond differently to development assistance.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to examine whether initial levels in GDP growth, GDP per capita growth and inequality adjusted human development matter in the impact of aid on development. In substance its object is to assess if threshold development conditions are necessary for the effectiveness of foreign aid in Africa. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between development dynamics and development assistance differs throughout the distributions of development dynamics. Findings – Three main findings are established. First, with slight exceptions, the effectiveness of aid in economic prosperity (at the macro level) increases in positive magnitude across the distribution. This implies high-growth countries are more likely to benefit from development assistance (in terms of general economic growth) than their low-growth counterparts. Second, the positive nexus between aid and per capita economic growth displays nonlinear patterns across distributions and specifications, with the correlations broadly higher in top quantiles than in bottom quantiles after controlling for the unobserved heterogeneity. Third, the aid-human development nexus is negative and almost similar in magnitude across distributions and specifications. Practical implications – As a policy implication, there is need to improve management of aid funds destined for health and education projects in the sampled countries. Moreover, given the magnitude of the nexuses, while blanket aid initiatives could be applied for policies targeting the human development index (due to the absence of significant differences in the magnitude of estimated coefficients), such are unlikely to succeed for aid targeting economic prosperity at macro and micro levels. From the weight of the findings, given a policy of balancing the impact of aid, it could be inferred that low-growth countries would need more aid than their high-growth counterparts because of the less positive effects in the former countries. Originality/value – This paper contributes to existing literature on the effectiveness of foreign aid by focussing on the distribution of the dependent variables (development dynamics). It is likely that high- and low-growth countries respond differently to development assistance. |
710. | Asongu, Simplice A A brief clarification to the questionable economics of foreign aid for inclusive human development 2014. Abstract | Links | BibTeX | Tags: Foreign Aid; Political Economy; Development; Africa @workingpaper{Asongu2014bi, title = {A brief clarification to the questionable economics of foreign aid for inclusive human development}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/28/14}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/A-brief-clarification-to-the-questionable-economics-of-foreign-aid.pdf}, year = {2014}, date = {2014-11-01}, abstract = {The study clarifies the questionable economics of foreign aid for inclusive human development. It investigates the effect of a plethora of foreign aid dynamics on the inequality adjusted human development index. Contemporary and non-contemporary OLS, Fixed-effects and a system GMM technique with forward orthogonal deviations are employed. The empirical evidence is based on a sample of 53 African countries for the period 2005-2012. The following findings are established. First, the impacts of aid dynamics with high degrees of substitution are positive. These include, aid for: social infrastructure, economic infrastructure, the productive sector and the multi-sector. Second, the effect of humanitarian assistance is consistently negative across specifications and models. Third, the effects of programme assistance and action on debts are ambiguous because they become positive with the GMM technique. Justifications for these changes and clarifications with respect to existing literature are provided. Policy implications are discussed in light of Piketty’s celebrated literature and the post-2015 development agenda. We also provide some recommendations for a rethinking of theories and models on which development assistance is based.}, keywords = {Foreign Aid; Political Economy; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The study clarifies the questionable economics of foreign aid for inclusive human development. It investigates the effect of a plethora of foreign aid dynamics on the inequality adjusted human development index. Contemporary and non-contemporary OLS, Fixed-effects and a system GMM technique with forward orthogonal deviations are employed. The empirical evidence is based on a sample of 53 African countries for the period 2005-2012. The following findings are established. First, the impacts of aid dynamics with high degrees of substitution are positive. These include, aid for: social infrastructure, economic infrastructure, the productive sector and the multi-sector. Second, the effect of humanitarian assistance is consistently negative across specifications and models. Third, the effects of programme assistance and action on debts are ambiguous because they become positive with the GMM technique. Justifications for these changes and clarifications with respect to existing literature are provided. Policy implications are discussed in light of Piketty’s celebrated literature and the post-2015 development agenda. We also provide some recommendations for a rethinking of theories and models on which development assistance is based. |