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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751. | ASONGU, Christian NGUENA Simplice L A 2014. Abstract | Links | BibTeX | Tags: Governance; Equity; Sustainable Development; Land Grab @workingpaper{ASONGU2014u, title = {Equitable and Sustainable Development of Foreign Land Acquisitions: what have we learnt on policy syndromes and implications?}, author = {Christian NGUENA L Simplice A. ASONGU}, editor = {AFRICAN GOVERNANCE and DEVELOPMENT INSTITUTE}, url = {http://afridev.org/wp-content/uploads/2016/04/Equitable-and-Sustainable-Development-of-Foreign-Land-Acquisitions.-A-review.pdf}, year = {2014}, date = {2014-01-01}, 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 study 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 study 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. |
752. | Akpan, Salisu Isihak & Simplice Asongu Uduak R A S Determinants of Foreign Direct Investment in Fast-Growing Economies: A Study of BRICS and MINT 2014. Abstract | Links | BibTeX | Tags: BRICS, determinants, fast-growing economies, FDI, MINT @workingpaper{Akpan2014, title = {Determinants of Foreign Direct Investment in Fast-Growing Economies: A Study of BRICS and MINT}, author = {Salisu Isihak & Simplice Asongu R A Uduak S. Akpan}, editor = {African 2014 Governance and Development Institute WP/14/002}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Determinants-of-FDI-in-fast-growing-economies.pdf}, year = {2014}, date = {2014-01-01}, abstract = {This study employs panel analysis to examine the determinants of foreign direct investment (FDI) in Brazil, Russia, India, China, and South Africa (BRICS) and Mexico, Indonesia, Nigeria, and Turkey (MINT) using data for eleven years i.e. 2001 – 2011. First, it uses pooled time-series cross sectional analysis to estimate the model on determinants of FDI for three samples: BRICS only, MINT only, and BRICS and MINT combined; then, random effects model is also employed to estimate the model for BRICS and MINT combined. The results show that market size, infrastructure availability, and trade openness play the most significant roles in attracting FDI to BRICS and MINT while the roles of availability of natural resources and institutional quality are insignificant. Given that FDI inflow to a country has the potential of being mutually beneficial to the investing entity and host government, the challenge is on how BRICS and MINT can sustain the level of FDI inflow and ensure it results in economic growth and socioeconomic transformation. To sustain the level of FDI inflow, governments of BRICS and MINT need to ensure that their countries remain attractive for investment. BRICS and MINT also need to ensure that their economies absorb substantial skills and technology spillovers from FDI inflow to promote sustainable long-term economic growth by investing more in their human capital. The study is significant because it contributes to literature on determinants of FDI by extending the scope of previous studies which often focus only on BRICS.}, keywords = {BRICS, determinants, fast-growing economies, FDI, MINT}, pubstate = {published}, tppubtype = {workingpaper} } This study employs panel analysis to examine the determinants of foreign direct investment (FDI) in Brazil, Russia, India, China, and South Africa (BRICS) and Mexico, Indonesia, Nigeria, and Turkey (MINT) using data for eleven years i.e. 2001 – 2011. First, it uses pooled time-series cross sectional analysis to estimate the model on determinants of FDI for three samples: BRICS only, MINT only, and BRICS and MINT combined; then, random effects model is also employed to estimate the model for BRICS and MINT combined. The results show that market size, infrastructure availability, and trade openness play the most significant roles in attracting FDI to BRICS and MINT while the roles of availability of natural resources and institutional quality are insignificant. Given that FDI inflow to a country has the potential of being mutually beneficial to the investing entity and host government, the challenge is on how BRICS and MINT can sustain the level of FDI inflow and ensure it results in economic growth and socioeconomic transformation. To sustain the level of FDI inflow, governments of BRICS and MINT need to ensure that their countries remain attractive for investment. BRICS and MINT also need to ensure that their economies absorb substantial skills and technology spillovers from FDI inflow to promote sustainable long-term economic growth by investing more in their human capital. The study is significant because it contributes to literature on determinants of FDI by extending the scope of previous studies which often focus only on BRICS. |
753. | Asongu, Simplice A On foreign aid distortions to governance 2014. Abstract | Links | BibTeX | Tags: Uncertainty; Foreign aid; Governance; Development; Africa @workingpaper{Asongu2014bu, title = {On foreign aid distortions to governance}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/003}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/On-Foreign-aid-distortions-to-governance.pdf}, year = {2014}, date = {2014-01-01}, abstract = {The Kangoye (2013, TDE) findings on the negative nexus between foreign aid unpredictability and governance could seriously affect debates in academic and policy making circles. Using the theoretical underpinnings of the celebrated Eubank (2012, JDS) literature, we first confirm Kangoye’s findings. Then extend the concept of governance from corruption to political, economic, institutional and general versions of the phenomenon. Findings from the extension run counter to those of Kangoye. It follows that in the presence of foreign aid uncertainty, governments could be constrained to improve governance standards in exchange for or anticipation of more dependence on local tax revenues. The empirical evidence is based on 53 African countries for the period 1996-2010. Two direct policy implications result. First, the Kangoye findings for developing countries are relevant for Africa. Second, when the concept of governance is not restricted to corruption, the findings become irrelevant for the continent.}, keywords = {Uncertainty; Foreign aid; Governance; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The Kangoye (2013, TDE) findings on the negative nexus between foreign aid unpredictability and governance could seriously affect debates in academic and policy making circles. Using the theoretical underpinnings of the celebrated Eubank (2012, JDS) literature, we first confirm Kangoye’s findings. Then extend the concept of governance from corruption to political, economic, institutional and general versions of the phenomenon. Findings from the extension run counter to those of Kangoye. It follows that in the presence of foreign aid uncertainty, governments could be constrained to improve governance standards in exchange for or anticipation of more dependence on local tax revenues. The empirical evidence is based on 53 African countries for the period 1996-2010. Two direct policy implications result. First, the Kangoye findings for developing countries are relevant for Africa. Second, when the concept of governance is not restricted to corruption, the findings become irrelevant for the continent. |
754. | Asongu, Simplice A Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa 2014. Abstract | Links | BibTeX | Tags: Liberalization policies; Capital return; Africa @workingpaper{Asongu2014bv, title = {Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/004}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Fresh-Patterns-on-Bank-Return-and-Return-Uncertainty-in-Africa.pdf}, year = {2014}, date = {2014-01-01}, abstract = {This chapter complements exiting African liberalization literature by providing fresh patterns of two main areas. First, it assesses whether African banking institutions have benefited from liberalization policies in terms of bank returns. Second, it models bank return and return uncertainty in the context of openness policies to examine fresh patterns for the feasibility of common policy initiatives. The empirical evidence is based on 28 African countries for the period 1999-2010. Varying non-overlapping intervals and autoregressive orders are employed for robustness purposes. The findings show that, while trade openness has increased bank returns and return uncertainties, financial openness and institutional liberalization have decreased bank returns and reduced return uncertainty respectively. But for some scanty evidence of convergence in return on equity, there is overwhelming absence of catch-up among sampled countries. Implications for regional integration and portfolio diversification are discussed.}, keywords = {Liberalization policies; Capital return; Africa}, pubstate = {published}, tppubtype = {workingpaper} } This chapter complements exiting African liberalization literature by providing fresh patterns of two main areas. First, it assesses whether African banking institutions have benefited from liberalization policies in terms of bank returns. Second, it models bank return and return uncertainty in the context of openness policies to examine fresh patterns for the feasibility of common policy initiatives. The empirical evidence is based on 28 African countries for the period 1999-2010. Varying non-overlapping intervals and autoregressive orders are employed for robustness purposes. The findings show that, while trade openness has increased bank returns and return uncertainties, financial openness and institutional liberalization have decreased bank returns and reduced return uncertainty respectively. But for some scanty evidence of convergence in return on equity, there is overwhelming absence of catch-up among sampled countries. Implications for regional integration and portfolio diversification are discussed. |
755. | Asongu, Simplice A On the substitution of institutions and finance in investment 2014. Abstract | Links | BibTeX | Tags: Finance; Institutions; Investment: Property Rights; Africa @workingpaper{Asongu2014bw, title = {On the substitution of institutions and finance in investment}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/005}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/On-the-substitution-of-institutions-and-finance-in-investment.pdf}, year = {2014}, date = {2014-01-01}, abstract = {The Ali (2013, EB) findings on the nexuses among institutions, finance and investment could have an important influence on policy and academic debates. This paper relaxes his hypotheses on the conception, definition and measurement of finance and institutions because they are less realistic to developing countries to which the resulting policy implications are destined. We dissect with great acuteness the contextual underpinnings of financial development dynamics and elucidate why the Acemoglu & Johnson (2005) justification provided for the measurement of property rights institutions (PRI) is lacking in substance. Using updated data (1996-2010) from 53 African countries, we provide more robust evidence on the substitution of institutions and finance in investment. Results under many baseline and augmented scenarios are not consistent with the underlying paper. Justifications for the differences in findings are discussed. As a policy implication, the Ali (2013, EB) findings for countries with poor financial systems may not be relevant for Africa.}, keywords = {Finance; Institutions; Investment: Property Rights; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The Ali (2013, EB) findings on the nexuses among institutions, finance and investment could have an important influence on policy and academic debates. This paper relaxes his hypotheses on the conception, definition and measurement of finance and institutions because they are less realistic to developing countries to which the resulting policy implications are destined. We dissect with great acuteness the contextual underpinnings of financial development dynamics and elucidate why the Acemoglu & Johnson (2005) justification provided for the measurement of property rights institutions (PRI) is lacking in substance. Using updated data (1996-2010) from 53 African countries, we provide more robust evidence on the substitution of institutions and finance in investment. Results under many baseline and augmented scenarios are not consistent with the underlying paper. Justifications for the differences in findings are discussed. As a policy implication, the Ali (2013, EB) findings for countries with poor financial systems may not be relevant for Africa. |
756. | Asongu, Simplice A Knowledge Economy and Financial Sector Competition in African Countries 2014. Abstract | Links | BibTeX | Tags: Financial development; Knowledge Economy; Africa @workingpaper{Asongu2014bx, title = {Knowledge Economy and Financial Sector Competition in African Countries}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/006}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Knowledge-economy-and-financial-sector-competition-in-African-countries.pdf}, year = {2014}, date = {2014-01-01}, abstract = {The goal of this paper is to assess how knowledge economy (KE) plays out in financial sector competition. It suggests a practicable way to disentangle the effects of different components of KE on various financial sectors. The variables identified under the World Bank’s four knowledge economy index (KEI) are employed. An endogeneity robust panel instrumental variable fixed-effects estimation strategy is employed on data from 53 African countries for the period 1996-2010. The following findings are established. First, education and innovation in terms of scientific and technical publications broadly bear an inverse nexus with financial development. Second, the incidence of information and communication technologies is positive on all financial sectors but increases the non-formal sectors to the detriment of the formal sector. Third, economic incentives have positive implications for all sectors though the formal financial sector benefits most. Fourth, institutional regime is positive (negative) for the semi-formal (informal) financial sector. The findings contribute at the same time to the macroeconomic literature on measuring financial development and respond to the growing fields of informal sector importance, microfinance and mobile banking by means of KE promotion. Policy implications and future research directions are discussed.}, keywords = {Financial development; Knowledge Economy; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The goal of this paper is to assess how knowledge economy (KE) plays out in financial sector competition. It suggests a practicable way to disentangle the effects of different components of KE on various financial sectors. The variables identified under the World Bank’s four knowledge economy index (KEI) are employed. An endogeneity robust panel instrumental variable fixed-effects estimation strategy is employed on data from 53 African countries for the period 1996-2010. The following findings are established. First, education and innovation in terms of scientific and technical publications broadly bear an inverse nexus with financial development. Second, the incidence of information and communication technologies is positive on all financial sectors but increases the non-formal sectors to the detriment of the formal sector. Third, economic incentives have positive implications for all sectors though the formal financial sector benefits most. Fourth, institutional regime is positive (negative) for the semi-formal (informal) financial sector. The findings contribute at the same time to the macroeconomic literature on measuring financial development and respond to the growing fields of informal sector importance, microfinance and mobile banking by means of KE promotion. Policy implications and future research directions are discussed. |
757. | Asongu, Mohamed Jellal Simplice A International aid, corruption and fiscal policy behavior 2014. Abstract | Links | BibTeX | Tags: Foreign Aid; Political Economy; Development; Africa @workingpaper{Asongu2014by, title = {International aid, corruption and fiscal policy behavior}, author = {Mohamed Jellal Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/007}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/International-aid-corruption-and-fiscal-policy-behavior.pdf}, year = {2014}, date = {2014-01-01}, abstract = {The Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) debate on ‘the effect of foreign aid on corruption’ has had an important influence in policy and academic circles. This paper provides a unifying framework by using investment and fiscal behavior transmission channels in 53 African countries for the period 1996-2010. Findings unite the two streams of the debate and broadly suggest that while the ‘government’s final consumption expenditure’ channel is consistent with the latter author, the investment and tax effort channels are in line with the former authors. Justifications for the nexuses are provided. Policy implications on how to use foreign aid constraints in managing fiscal behavior as means of reducing (increasing) corruption (corruption-control) are discussed.}, keywords = {Foreign Aid; Political Economy; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } The Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) debate on ‘the effect of foreign aid on corruption’ has had an important influence in policy and academic circles. This paper provides a unifying framework by using investment and fiscal behavior transmission channels in 53 African countries for the period 1996-2010. Findings unite the two streams of the debate and broadly suggest that while the ‘government’s final consumption expenditure’ channel is consistent with the latter author, the investment and tax effort channels are in line with the former authors. Justifications for the nexuses are provided. Policy implications on how to use foreign aid constraints in managing fiscal behavior as means of reducing (increasing) corruption (corruption-control) are discussed. |
758. | Asongu, Mohamed Jellal Simplice A A Theory of Compliance with Minimum Wage Law 2014. Abstract | Links | BibTeX | Tags: Minimum wage legislation; informal sector in LDCs. @workingpaper{Asongu2014bz, title = {A Theory of Compliance with Minimum Wage Law}, author = {Mohamed Jellal Simplice A. Asongu}, editor = {African 2014 Governance and Development Institute WP/14/008}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/A-Theory-of-Compliance-With-Minimum-Wage-Law.pdf}, year = {2014}, date = {2014-01-01}, abstract = {Purpose – In this paper, we introduce firm heterogeneity in the context of a model of noncompliance with minimum wage legislation. Design/methodology/approach – Theoretical modeling under government compliance policy and wages & employment under non compliance. Findings – The introduction of heterogeneity in the ease with which firms can be monitored for non compliance allows us to show that non-compliance will persist in sectors which are relatively difficult to monitor, despite the government implementing non stochastic monitoring. Moreover, we show that the incentive not to comply is an increasing function of the level of the minimum wage and increasing function of the gap between the minimum wage and the competitive wage rate. Originality/value – We have shown why non compliance persists in certain sectors of activity despite frequent inspection by government agencies.}, keywords = {Minimum wage legislation; informal sector in LDCs.}, pubstate = {published}, tppubtype = {workingpaper} } Purpose – In this paper, we introduce firm heterogeneity in the context of a model of noncompliance with minimum wage legislation. Design/methodology/approach – Theoretical modeling under government compliance policy and wages & employment under non compliance. Findings – The introduction of heterogeneity in the ease with which firms can be monitored for non compliance allows us to show that non-compliance will persist in sectors which are relatively difficult to monitor, despite the government implementing non stochastic monitoring. Moreover, we show that the incentive not to comply is an increasing function of the level of the minimum wage and increasing function of the gap between the minimum wage and the competitive wage rate. Originality/value – We have shown why non compliance persists in certain sectors of activity despite frequent inspection by government agencies. |
759. | Asongu, Simplice A The Evolving Debate on the Effect of Foreign Aid on Corruption and Institutions in Africa 2014. Abstract | Links | BibTeX | Tags: Foreign Aid; Corruption; Development; Africa @workingpaper{Asongu2014b_26, title = {The Evolving Debate on the Effect of Foreign Aid on Corruption and Institutions in Africa}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/009}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/An-evolving-debate-on-the-effect-of-foreign-aid-on-corruption-and-institutions-in-Africa.pdf}, year = {2014}, date = {2014-01-01}, abstract = {This policy chapter summarises an evolving debate on the effect of foreign aid on corruption and institutions. It entails a series of publications that have been successively motivated by feedbacks from academic and policy making circles. The plethora of papers explores debates sustaining the direct, conditional and indirect effects of foreign aid on institutions. Moreover, another debate on the incidence of foreign aid distortions on corruption is also assessed in light of a recently celebrated literature on development assistance. Overall, the findings show that the effects of foreign aid on corruption and institutions are: directly positive; conditionally positive with a magnitude dependent on initial institutional capacity levels; contingent on fundamental characteristics of development due to heterogeneity and; indirectly positive or negative depending on the transmission mechanism. While the impact of foreign aid uncertainty on corruption is also positive, the sign on governance could change in light of governments’ commitment to increase its dependence on local tax revenues.}, keywords = {Foreign Aid; Corruption; Development; Africa}, pubstate = {published}, tppubtype = {workingpaper} } This policy chapter summarises an evolving debate on the effect of foreign aid on corruption and institutions. It entails a series of publications that have been successively motivated by feedbacks from academic and policy making circles. The plethora of papers explores debates sustaining the direct, conditional and indirect effects of foreign aid on institutions. Moreover, another debate on the incidence of foreign aid distortions on corruption is also assessed in light of a recently celebrated literature on development assistance. Overall, the findings show that the effects of foreign aid on corruption and institutions are: directly positive; conditionally positive with a magnitude dependent on initial institutional capacity levels; contingent on fundamental characteristics of development due to heterogeneity and; indirectly positive or negative depending on the transmission mechanism. While the impact of foreign aid uncertainty on corruption is also positive, the sign on governance could change in light of governments’ commitment to increase its dependence on local tax revenues. |
760. | Asongu, Simplice A Boosting scientific publications in Africa: which IPRs protection channels matter? 2014. Abstract | Links | BibTeX | Tags: Publications; Intellectual property rights; Governance; Africa @workingpaper{Asongu2014b_27, title = {Boosting scientific publications in Africa: which IPRs protection channels matter?}, author = {Simplice A Asongu}, editor = {African 2014 Governance and Development Institute WP/14/010}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Boosting-scientific-publications-in-Africa-which-IPRs-protection-channels-mattter.pdf}, year = {2014}, date = {2014-01-01}, abstract = {This paper examines how Africa’s share in the contribution to global scientific knowledge can be boosted with existing Intellectual Property Rights (IPRs) mechanisms. The findings which broadly indicate that tight IPRs are correlated with knowledge contribution can be summarized in two main points. First, the enshrinement of IPRs laws in a country’s Constitution is a good condition for knowledge economy. Secondly, while Main IP laws, WIPO treaties and Bilateral treaties are positively correlated with scientific publications, the IPRs law channel have a negative correlation. Whereas the study remains expositional, it does however offer interesting insights into the need for IPRs in the promotion of knowledge contribution within sampled countries of the continent. Other policy implications are discussed.}, keywords = {Publications; Intellectual property rights; Governance; Africa}, pubstate = {published}, tppubtype = {workingpaper} } This paper examines how Africa’s share in the contribution to global scientific knowledge can be boosted with existing Intellectual Property Rights (IPRs) mechanisms. The findings which broadly indicate that tight IPRs are correlated with knowledge contribution can be summarized in two main points. First, the enshrinement of IPRs laws in a country’s Constitution is a good condition for knowledge economy. Secondly, while Main IP laws, WIPO treaties and Bilateral treaties are positively correlated with scientific publications, the IPRs law channel have a negative correlation. Whereas the study remains expositional, it does however offer interesting insights into the need for IPRs in the promotion of knowledge contribution within sampled countries of the continent. Other policy implications are discussed. |