@workingpaper{Asongu2012b_35,
title = {The Role of Human Development on Deforestation in Africa: A Modelling-Based Approach},
author = {Brian Jingwa A Simplice A. Asongu},
editor = {African 2012 Governance and Development Institute WP/12/036},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/The-role-of-human-development-on-deforestation.-A-modelling-based-approach.pdf},
year = {2012},
date = {2012-01-01},
abstract = {The rate of deforestation in Africa is of paramount concern not only to the future of Africa,
but also to the world. This study uses country-level data to model changes in forest area over
an 18 year period (1990-2007) in 35 African countries and investigates the role played by
important development indicators of human development. The results reveal that the net loss
of forests was 0.19% every year between 1990 and 2007. This implies a total of 3.42% of
forest was lost in the 18 year period. This is more in line with estimates obtained by the Food
and Agricultural Organization (0.56% between1990-2000 and 0.49% between 2000-2010).
Human development which involves life expectancy, education and income is found to have
a positive effect on forest growth and conservation, while cutting down trees for wood fuel is
a significant cause of deforestation. Using generalized linear mixed models and generalised
estimating equations, we were able to calculate expected estimates of forest area for 2010,
2020 and 2030 under the assumption that nothing is done to change observed trends. In many
countries, progress has been made in reforestation, forest protection and conservation.
However, if indiscriminate cutting down of trees is not checked, many countries will lose
most or all of their forests by 2030.},
keywords = {Deforestation; Environment; Human development index; Agriculture; Data modelling; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011b,
title = {Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/016},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Finance-and-Inequality.-Exploring-Pro-poor-Investment-Channels-in-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {Hitherto very few studies on the inequality-finance(investment) nexus have focused on
the African continent owing to lack of relevant data. This paper integrates previously missing
investment and financial components in the assessment of how finance affects pro-poor
investment channels. Findings reveal, but for the case of foreign investment, financial
development dynamics of depth, efficiency, activity and size have an equalizing effect on
income distribution through private, public and domestic investment channels. As a policy
implication investment-targeted financial reforms that aim to curb poverty should take account of
the disequalizing income-effect of foreign investment in undeveloped countries.},
keywords = {Finance; Investment; Poverty; Inequality; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bb,
title = {Population Growth and Forest Sustainability in Africa},
author = {Brian Jingwa A Simplice A. Asongu},
editor = {African 2011 Governance and Development Institute WP/11/017},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Population-growth-and-Forest-Sustainability.Evidence-from-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {Recent distressing trends in climate change, population explosion and deforestation
inspired this paper, which completes existing literature by providing empirical justification to
hypothetical initiatives on the impact of population growth on forest sustainability in Africa.
Using three instruments of forest exploitation, the study shows how rural, agricultural and
national population growths affect forest-area and agricultural-land. In this particular study the
findings indicate that instruments of forest exploitation do not explain changes in forest-area and
agricultural-land beyond population growth mechanisms. Hence, population growth channels are
a driving force by which forest-area and agricultural-land are depleted and expanded
respectively. As a policy implication in the process of deforestation, a balanced approach is
needed to take account of the interests of both; a green economy promoting sustainable
development and the growing population needs.},
keywords = {Demography; Forestry; Agriculture; Environment; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bc,
title = {Law, Democracy and the Quality of Government in Africa},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/018},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Law-democracy-and-the-quality-of-government-in-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {This paper examines the big questions of African comparative politics. It assesses the
interaction of three crucial components in the development of the continent: law, democracy and
quality of government. Political regimes of democracy, polity and autocracy are instrumented
with income-levels, legal-origins, religious-dominations and press-freedom levels to account for
government quality dynamics of corruption-control, government-effectiveness, voice and
accountability, political-stability, regulation quality and rule of law. Findings indicate democracy
has an edge over autocracy while the later and polity overlap. A democracy that takes into
account only the voice of the majority is better in government quality than autocracy, while a
democracy that takes into account the voice of the minority (polity) is worse in government
quality than autocracy. As a policy implication, democracy once initiated should be accelerated
to edge the appeals of authoritarian regimes and reap the benefits of time and level hypotheses.},
keywords = {Law; Politics; Democracy; Government Policy; Development},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bd,
title = {Government Quality Determinants of Stock Market Performance in African Countries},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/019},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Government-quality-determinants-of-stock-market-performance-in-African-countries.pdf},
year = {2011},
date = {2011-12-01},
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 & 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 = {workingpaper}
}

@workingpaper{Asongu2011be,
title = {Finance and Democracy in Africa},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/020},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Finance-and-democracy-in-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {This paper focuses on how political regimes affect financial development in Africa,
contingent on religious-domination, income-levels and colonial-legacies. The main findings are
summarized as follows. Authoritarian regimes have a higher propensity to effect policies that
favour the development of financial intermediary depth, activity and size. Democracy has
important effects on the degree of competition for public offices but less significant effects in
comparison with autocracy on policies towards financial development. As a policy implication,
once democracy is initiated, it should be accelerated (to edge the appeals of authoritarian
regimes) and reap the benefits of level and time hypotheses in financial development.},
keywords = {Banking; Finance; Politics; Democracy; Development},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bf,
title = {Democracy and Stock Market Performance in African Countries},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/021},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Democracy-and-Stock-Market-Performance-in-African-Countries.pdf},
year = {2011},
date = {2011-12-01},
abstract = {Purpose – This paper assesses the incidence of political institutions on stock market
performance dynamics in Africa.
Design/methodology/approach – The estimation technique used is a Two-Stage-Least Squares
Instrumental Variable methodology. 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 capitalization, value traded, turnover and
number of listed companies. To ensure robustness of the analysis, the following checks are
carried out: (1) usage of alternative indicators of political institutions; (2) employment of two
distinct interchangeable sets of moment conditions that engender every category of the
instruments; (3) usage of alternative indicators of stock market performance; (4) account for the
concern of endogeneity; (5) usage of Principal Component Analysis(PCA) to reduce the
dimensions of stock market dynamics and political indicators and then check for further
robustness of findings in the regressions from resulting indexes.
Findings – Findings broadly demonstrate that democracy improves investigated stock market
performance dynamics.
Practical implications – As a policy recommendation, the role of sound political institutions is
crucial for financial development in Africa. Democracies have important effects on both the
degree of competition for public office and the quality of public offices that favor stock market
development in the African continent.
Originality/value – To the best of our knowledge this is the first paper to assess the incidence of
democracy on stock market performance in an exclusive African context. Political strife has
plagued many African countries and continue to pose a significant threat to financial market
development.},
keywords = {Financial Markets; Government Policy; Political Economy; Development},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bg,
title = {Deforestation and Welfare: Evidence from Africa},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/022},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Deforestation-and-Welfare.-Evidence-from-Africa.pdf},
year = {2011},
date = {2011-12-01},
abstract = {This paper examines the effects of deforestation on the welfare of rural communities in
the Congo Basin. Using moment conditions of agricultural and forest exploitations, findings
indicate deforestation significantly improves welfare both at overall-rural and agricultural
household per capita income levels. As a policy implication, in the process of forest exploitation
a balanced approach is needed to take account of the interests of both rural communities, timber
companies and international forest-sustainability standards. This should require among other
things, the development and implementation of sustainable forest management plans by timber
companies, exclusion from harvesting species that are important to local communities,
compensation of timber companies for compliance with management plans as well as
involvement of rural communities in monitoring the activities of timber companies.},
keywords = {Demography; Forestry; Agriculture; Welfare; Africa},
pubstate = {published},
tppubtype = {workingpaper}
}

@workingpaper{Asongu2011bh,
title = {Law, Finance and Investment: does legal origin matter in Africa?},
author = {Simplice A Asongu},
editor = {African 2011 Governance and Development Institute WP/11/013},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Law-finance-and-investment.-Does-legal-origin-matter.pdf},
year = {2011},
date = {2011-11-01},
abstract = {This paper assesses if legal origin explains domestic, foreign, private and public
investments through financial intermediary channels of depth, efficiency, activity and size. The
findings show that legal origin matters in the finance-investment nexus, though its ability to
explain aggregate investment dynamics only through financial intermediary channels is limited
in the cases of private and public investments.},
keywords = {Law; Finance; Investment; Developing countries},
pubstate = {published},
tppubtype = {workingpaper}
}