PUBLICATIONS

@article{Asongu_503,
author = {Simplice Asongu & Jacinta Nwachukwu},
url = {http://journals.sagepub.com/doi/pdf/10.1177/1478929916663217},
doi = {10.1177/1478929916663217},
year = {2016},
date = {2016-12-27},
journal = {Political Studies Review},
abstract = {This article assesses the effect of political institutions on stock market performance in 14 African countries for which stock market data are available for the period 1990–2010. The estimation technique used is a two-stage least-squares instrumental variable methodology. Political regime channels of democracy, polity and autocracy are instrumented with legal-origins, religious-legacies, income-levels and press-freedom qualities to account for stock market performance dynamics of capitalisation, value traded, turnover and number of listed companies. The findings show that countries with democratic regimes enjoy higher levels of financial market development compared to their counterparts with autocratic inclinations. As a policy implication, the role of sound political institutions has important effects on both the degree of competition for public office and the quality of public offices that favour stock market development on the African continent.},
keywords = {Development, financial markets, government policy},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_791,
author = {Simplice A Asongu},
url = {http://www.tandfonline.com/doi/abs/10.1080/15228916.2012.727744},
doi = {10.1080/15228916.2012.727744},
year = {2012},
date = {2012-11-08},
journal = {Journal of African Business},
volume = {13},
number = {3},
pages = {183-199},
abstract = {How do government policies and institutions affect stock market performance? As stock markets grow broader and deeper in African countries, the question becomes more critical. Government quality dynamics of corruption control, government effectiveness, political stability or no violence, voice and accountability, regulation quality and rule of law are instrumented with income levels, religious dominations, press freedom degrees, and legal origins to account for stock market performance dynamics of capitalization, value traded, turnover and number of listed companies. The results demonstrate a significant positive association between stock market performance measures and the quality of government institutions. These findings suggest countries with better developed government institutions would favor stock markets with higher market capitalization, better turnover ratios, higher value in shares traded and greater number of listed companies.},
keywords = {financial markets, government policy, Political economy},
pubstate = {published},
tppubtype = {article}
}