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
2020 |
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| 1. | Williams, Olatunde Omokanmi Serifat Onayemi Ibrahim Adekunle Tolulope J O A O 2020. Abstract | Links | BibTeX | Tags: Economic growth, remittances @unpublished{Asongux, author = {Olatunde Omokanmi Serifat Onayemi J O Ibrahim A. Adekunle Tolulope O. Williams}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Mediating-roles-of-institutions-in-the-remittance-growth-relationship.pdf}, year = {2020}, date = {2020-09-08}, abstract = {In this study, we examine the mediating roles of institutions in the remittances growth relationship for some reasons. We found that no country-specific study has towed this line leaving a vacuum in the literature of development and international finance. Most studies along this dimension have been done as a continental panel study with significant attendant deficiencies. Heterogeneous nature of institutional arrangements in African nations makes findings on the moderation roles of institutions in the remittance-growth relationship regional specific. We rely on the autoregressive distributed lag (ARDL) estimation procedure to establish a clear line of thought on the interactions of the variables of interest. Short-run results revealed that remittances inflow positively influence growth, but when institutional factors interact with the remittances variables, only the regulatory quality measures from the product of interactions matters for growth. Nonetheless, long run results revealed that remittances inflow was negatively related with growth, but when interacted with institutional measures and regressed on growth outcomes, we found remittances to positively and statistically influence growth outcomes for all the institutional measures adopted. Therefore, recipient nations should improve on the design and enforcement of laws particularly about their regulatory quality and as well as quality assurance such that they could be positioned to attract increased remittances inflow as well as other sources of external financing needed to augment domestic productivity and growth.}, keywords = {Economic growth, remittances}, pubstate = {published}, tppubtype = {unpublished} } In this study, we examine the mediating roles of institutions in the remittances growth relationship for some reasons. We found that no country-specific study has towed this line leaving a vacuum in the literature of development and international finance. Most studies along this dimension have been done as a continental panel study with significant attendant deficiencies. Heterogeneous nature of institutional arrangements in African nations makes findings on the moderation roles of institutions in the remittance-growth relationship regional specific. We rely on the autoregressive distributed lag (ARDL) estimation procedure to establish a clear line of thought on the interactions of the variables of interest. Short-run results revealed that remittances inflow positively influence growth, but when institutional factors interact with the remittances variables, only the regulatory quality measures from the product of interactions matters for growth. Nonetheless, long run results revealed that remittances inflow was negatively related with growth, but when interacted with institutional measures and regressed on growth outcomes, we found remittances to positively and statistically influence growth outcomes for all the institutional measures adopted. Therefore, recipient nations should improve on the design and enforcement of laws particularly about their regulatory quality and as well as quality assurance such that they could be positioned to attract increased remittances inflow as well as other sources of external financing needed to augment domestic productivity and growth. |
2017 |
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| 2. | Asongu, Jacinta Nwachukwu Simplice 2017. Abstract | Links | BibTeX | Tags: Economic growth, Financial Development, Financial instability and Africa @unpublished{Asongu_439, author = {Jacinta Nwachukwu Simplice Asongu}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Linkages-between-finance-instability-liberalisation-and-growth-in-Africa.pdf}, year = {2017}, date = {2017-07-11}, abstract = {In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses linkages between financial instability, financial liberalisation, financial development and economic growth in 41 African countries for the period 1985-2010. The results suggest that financial development and financial liberalisation have positive effects on financial instability. The findings also reveal that economic growth reduces financial instability and the magnitude of reduction is higher in the pre-liberalisation period compared to post-liberalisation period.}, keywords = {Economic growth, Financial Development, Financial instability and Africa}, pubstate = {published}, tppubtype = {unpublished} } In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses linkages between financial instability, financial liberalisation, financial development and economic growth in 41 African countries for the period 1985-2010. The results suggest that financial development and financial liberalisation have positive effects on financial instability. The findings also reveal that economic growth reduces financial instability and the magnitude of reduction is higher in the pre-liberalisation period compared to post-liberalisation period. |
2016 |
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| 3. | 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. |
| 4. | Montasser, Hassen Toumi Simplice Asongu Ghassen El Environmental Science and Pollution Research, 23 (7), pp. 6563-6573, 2016. Abstract | Links | BibTeX | Tags: Africa, CO2 emissions, Economic growth, Energy consumption @article{Asongu_576, author = {Hassen Toumi Simplice Asongu Ghassen El Montasser}, url = {http://link.springer.com/article/10.1007/s11356-015-5883-7}, doi = {10.1007/s11356-015-5883-7}, year = {2016}, date = {2016-04-05}, journal = {Environmental Science and Pollution Research}, volume = {23}, number = {7}, pages = {6563-6573}, abstract = {This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE), and economic growth (GDP; gross domestic product) in 24 African countries using a panel autoregressive distributed lag (ARDL) approach. The following findings are established. First, there is a long-run relationship between EC, CE, and GDP. Second, a long-term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the error correction mechanisms are consistently stable. However, in cases of disequilibrium, only EC can be significantly adjusted to its long-run relationship. Fourth, there is a long-run causality running from GDP and CE to EC. Fifth, we find causality running from either CE or both CE and EC to GDP, and inverse causal paths are observable. Causality from EC to GDP is not strong, which supports the conservative hypothesis. Sixth, the causal direction from EC to GDP remains unobservable in the short term. By contrast, the opposite path is observable. There are also no short-run causalities from GDP, or EC, or EC, and GDP to EC. Policy implications are discussed.}, keywords = {Africa, CO2 emissions, Economic growth, Energy consumption}, pubstate = {published}, tppubtype = {article} } This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE), and economic growth (GDP; gross domestic product) in 24 African countries using a panel autoregressive distributed lag (ARDL) approach. The following findings are established. First, there is a long-run relationship between EC, CE, and GDP. Second, a long-term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the error correction mechanisms are consistently stable. However, in cases of disequilibrium, only EC can be significantly adjusted to its long-run relationship. Fourth, there is a long-run causality running from GDP and CE to EC. Fifth, we find causality running from either CE or both CE and EC to GDP, and inverse causal paths are observable. Causality from EC to GDP is not strong, which supports the conservative hypothesis. Sixth, the causal direction from EC to GDP remains unobservable in the short term. By contrast, the opposite path is observable. There are also no short-run causalities from GDP, or EC, or EC, and GDP to EC. Policy implications are discussed. |
2015 |
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| 5. | Asongu, Simplice A Managerial Finance, 41 (6), pp. 615-639, 2015. Abstract | Links | BibTeX | Tags: Economic growth, Finance, Meta-analysis, Publication bias @article{Asongu_644, author = {Simplice A Asongu}, url = {http://dx.doi.org/10.1108/MF-09-2013-0249}, doi = {10.1108/MF-09-2013-0249}, year = {2015}, date = {2015-06-01}, journal = {Managerial Finance}, volume = {41}, number = {6}, pages = {615-639}, abstract = {Purpose – The purpose of this paper is to bridge the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. The author assesses the degree of heterogeneity and identify causes of the observed differentiation. Findings – The findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias, and effects of financial activity. A historical justification has also been discussed. Practical implications – Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value – Very few meta-analysis studies have focused on the finance-growth nexus.}, keywords = {Economic growth, Finance, Meta-analysis, Publication bias}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to bridge the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach – Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. The author assesses the degree of heterogeneity and identify causes of the observed differentiation. Findings – The findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias, and effects of financial activity. A historical justification has also been discussed. Practical implications – Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value – Very few meta-analysis studies have focused on the finance-growth nexus. |