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
2015 |
|
1. | Asongu, Lieven De Moor & Vanessa Tchamyou Simplice S A Pre- and post-crisis dynamics of financial globalisation for financial development in Africa 2015. Abstract | Links | BibTeX | Tags: Banking; Financial crisis; Financial development @workingpaper{Asongu2015bi, title = {Pre- and post-crisis dynamics of financial globalisation for financial development in Africa}, author = {Lieven De Moor & Vanessa Tchamyou S Simplice A. Asongu}, editor = {African 2015 Governance and Development Institute WP/15/045}, url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Pre-and-post-crisis-dynamics-of-financial-globalisation-for-financial-development.pdf}, year = {2015}, date = {2015-11-01}, abstract = {This study unites two streams of research by simultaneously focusing on the impact of financial globalisation on financial development and pre- and post-crisis dynamics of the investigated relationship. The empirical evidence is based on 53 African countries for the period 2004-2011 and Generalised Method of Moments. The following findings are established. First, whereas marginal effects from financial globalisation are positive on financial dynamics of activity and size, corresponding net effects (positive thresholds) are negative (within range). Second, while decreasing financial globalisation returns are apparent to financial dynamics of depth and efficiency, corresponding net effects (negative thresholds) are positive (not within range). Third, financial development dynamics are more weakly stationary and strongly convergent in the precrisis period. Fourth, the net effect from the: pre-crisis period is lower on money supply and banking system efficiency; post-crisis period is positive on financial system efficiency and precrisis period is positive on financial size. Policy implications are discussed.}, keywords = {Banking; Financial crisis; Financial development}, pubstate = {published}, tppubtype = {workingpaper} } This study unites two streams of research by simultaneously focusing on the impact of financial globalisation on financial development and pre- and post-crisis dynamics of the investigated relationship. The empirical evidence is based on 53 African countries for the period 2004-2011 and Generalised Method of Moments. The following findings are established. First, whereas marginal effects from financial globalisation are positive on financial dynamics of activity and size, corresponding net effects (positive thresholds) are negative (within range). Second, while decreasing financial globalisation returns are apparent to financial dynamics of depth and efficiency, corresponding net effects (negative thresholds) are positive (not within range). Third, financial development dynamics are more weakly stationary and strongly convergent in the precrisis period. Fourth, the net effect from the: pre-crisis period is lower on money supply and banking system efficiency; post-crisis period is positive on financial system efficiency and precrisis period is positive on financial size. Policy implications are discussed. |