AGDI a environ 300 publications actuellement.
2019 |
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1. | U., Beecroft Asongu Efobi I S Foreign Trade Review, 2019. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_207, author = {Beecroft Asongu I S Efobi U.}, url = {https://journals.sagepub.com/doi/abs/10.1177/0015732519851633}, doi = {10.1177/0015732519851633}, year = {2019}, date = {2019-07-20}, journal = {Foreign Trade Review}, abstract = {This study considers foreign aid flow by sector in which the aid is directed and then estimates its impact on corruption in order to clarify the specific direction of aid flow that triggers (or does not trigger) corrupt practices. Data are from the Organisation for Economic Co-operation and Development database, Freedom House dataset, and the World Bank Governance Indicators. The dynamic system GMM and quantile regressions (QR) were estimated for robust estimation and correction of endogeneity issues. We found that aid flows for the development of economic infrastructure, multi-sector and programme assistance were consistently reducing corruption. This result stands for both the entire sample and for the African countries (especially for countries at the 25th, 50th and 75th quintiles). Aid flows to social infrastructure and debt relief significantly induce corrupt practices in the sampled countries. These forms of aid only spur rent-seeking behaviour for countries at the lower quintiles of corruption. Two robust checks were estimated, including: (a) using an alternate explained variable—the corruption measure by Transparency International; and (b) correcting for endogeneity in the QR estimation by instrumenting the independent variables of interest with their first-lags. For both checks, the signs and significant values of the variables were consistent with the earlier estimation.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } This study considers foreign aid flow by sector in which the aid is directed and then estimates its impact on corruption in order to clarify the specific direction of aid flow that triggers (or does not trigger) corrupt practices. Data are from the Organisation for Economic Co-operation and Development database, Freedom House dataset, and the World Bank Governance Indicators. The dynamic system GMM and quantile regressions (QR) were estimated for robust estimation and correction of endogeneity issues. We found that aid flows for the development of economic infrastructure, multi-sector and programme assistance were consistently reducing corruption. This result stands for both the entire sample and for the African countries (especially for countries at the 25th, 50th and 75th quintiles). Aid flows to social infrastructure and debt relief significantly induce corrupt practices in the sampled countries. These forms of aid only spur rent-seeking behaviour for countries at the lower quintiles of corruption. Two robust checks were estimated, including: (a) using an alternate explained variable—the corruption measure by Transparency International; and (b) correcting for endogeneity in the QR estimation by instrumenting the independent variables of interest with their first-lags. For both checks, the signs and significant values of the variables were consistent with the earlier estimation. |
2016 |
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2. | Asongu, Jacinta Nwachukwu Simplice C A International Review of Applied Economics, 30 (1), pp. 69-88, 2016. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_587, author = {Jacinta Nwachukwu C Simplice A. Asongu}, url = {http://www.tandfonline.com/doi/abs/10.1080/02692171.2015.1074164}, doi = {10.1080/02692171.2015.1074164}, year = {2016}, date = {2016-03-02}, journal = {International Review of Applied Economics}, volume = {30}, number = {1}, pages = {69-88}, abstract = {This paper investigates the effect of foreign aid on governance in order to extend the debate on foreign aid and to verify common positions from Moyo’s ‘Dead Aid’, Collier’s ‘Bottom Billion’ and Eubank’s ‘Somaliland’. The empirical evidence is based on updated data from 52 African countries for the period 1996–2010. An endogeneity robust instrumental variable Two-Stage-Least Squares empirical strategy is employed. The findings reveal that development assistance deteriorates economic (regulation quality and government effectiveness) and institutional (corruption-control and rule of law) governance, but has an insignificant effect on political (political stability, voice and accountability) governance. While, these findings are broadly in accordance with Moyo and Collier on weak governance, they neither confirm the Eubank position on political governance nor the Asongu stance on the aid-corruption nexus in a debate with Okada and Samreth. The use of foreign aid as an instrument to influence the election and replacement of political leaders in Africa may have insignificant results. It is time to solve the second tragedy of foreign aid and that economists and policy makers start rethinking the models and theories on which foreign aid is used to influence economic, institutional and political governance in recipient countries.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } This paper investigates the effect of foreign aid on governance in order to extend the debate on foreign aid and to verify common positions from Moyo’s ‘Dead Aid’, Collier’s ‘Bottom Billion’ and Eubank’s ‘Somaliland’. The empirical evidence is based on updated data from 52 African countries for the period 1996–2010. An endogeneity robust instrumental variable Two-Stage-Least Squares empirical strategy is employed. The findings reveal that development assistance deteriorates economic (regulation quality and government effectiveness) and institutional (corruption-control and rule of law) governance, but has an insignificant effect on political (political stability, voice and accountability) governance. While, these findings are broadly in accordance with Moyo and Collier on weak governance, they neither confirm the Eubank position on political governance nor the Asongu stance on the aid-corruption nexus in a debate with Okada and Samreth. The use of foreign aid as an instrument to influence the election and replacement of political leaders in Africa may have insignificant results. It is time to solve the second tragedy of foreign aid and that economists and policy makers start rethinking the models and theories on which foreign aid is used to influence economic, institutional and political governance in recipient countries. |
2015 |
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3. | Asongu, Simplice A International Journal of Social Economics, 42 (6), pp. 543-565, 2015. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_643, author = {Simplice A Asongu}, url = {http://www.emeraldinsight.com/doi/abs/10.1108/IJSE-12-2013-0286?journalCode=ijse}, doi = {10.1108/IJSE-12-2013-0286}, year = {2015}, date = {2015-06-01}, journal = {International Journal of Social Economics}, volume = {42}, number = {6}, pages = {543-565}, abstract = {Purpose – The purpose of this paper is to integrate two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign-aid on institutional development in 53 African countries over the period 1996-2010. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between institutional dynamics and development assistance differs throughout the distributions of institutional dynamics. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice and accountability, control of corruption, political stability and democracy. Findings – Three hypotheses are tested and the following findings are established: first, institutional benefits of foreign-aid are contingent on existing institutional levels in Africa; second, but for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality; third, the institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels. Originality/value – This paper contributes to existing literature on the effectiveness of foreign-aid by focussing on the distribution of the dependent variables (institutional dynamics). It is likely that best and worst countries in terms of institutions respond differently to development assistance.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to integrate two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign-aid on institutional development in 53 African countries over the period 1996-2010. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between institutional dynamics and development assistance differs throughout the distributions of institutional dynamics. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice and accountability, control of corruption, political stability and democracy. Findings – Three hypotheses are tested and the following findings are established: first, institutional benefits of foreign-aid are contingent on existing institutional levels in Africa; second, but for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality; third, the institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels. Originality/value – This paper contributes to existing literature on the effectiveness of foreign-aid by focussing on the distribution of the dependent variables (institutional dynamics). It is likely that best and worst countries in terms of institutions respond differently to development assistance. |
2014 |
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4. | Asongu, Simplice A International Journal of Social Economics, 41 (11), pp. 1131 - 1155, 2014. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_677, author = {Simplice A Asongu}, url = {http://dx.doi.org/10.1108/IJSE-01-2013-0014}, doi = {10.1108/IJSE-01-2013-0014}, year = {2014}, date = {2014-11-04}, journal = {International Journal of Social Economics}, volume = {41}, number = {11}, pages = {1131 - 1155}, abstract = {Purpose – The purpose of this paper is to examine whether initial levels in GDP growth, GDP per capita growth and inequality adjusted human development matter in the impact of aid on development. In substance its object is to assess if threshold development conditions are necessary for the effectiveness of foreign aid in Africa. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between development dynamics and development assistance differs throughout the distributions of development dynamics. Findings – Three main findings are established. First, with slight exceptions, the effectiveness of aid in economic prosperity (at the macro level) increases in positive magnitude across the distribution. This implies high-growth countries are more likely to benefit from development assistance (in terms of general economic growth) than their low-growth counterparts. Second, the positive nexus between aid and per capita economic growth displays nonlinear patterns across distributions and specifications, with the correlations broadly higher in top quantiles than in bottom quantiles after controlling for the unobserved heterogeneity. Third, the aid-human development nexus is negative and almost similar in magnitude across distributions and specifications. Practical implications – As a policy implication, there is need to improve management of aid funds destined for health and education projects in the sampled countries. Moreover, given the magnitude of the nexuses, while blanket aid initiatives could be applied for policies targeting the human development index (due to the absence of significant differences in the magnitude of estimated coefficients), such are unlikely to succeed for aid targeting economic prosperity at macro and micro levels. From the weight of the findings, given a policy of balancing the impact of aid, it could be inferred that low-growth countries would need more aid than their high-growth counterparts because of the less positive effects in the former countries. Originality/value – This paper contributes to existing literature on the effectiveness of foreign aid by focussing on the distribution of the dependent variables (development dynamics). It is likely that high- and low-growth countries respond differently to development assistance.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } Purpose – The purpose of this paper is to examine whether initial levels in GDP growth, GDP per capita growth and inequality adjusted human development matter in the impact of aid on development. In substance its object is to assess if threshold development conditions are necessary for the effectiveness of foreign aid in Africa. Design/methodology/approach – The panel quantile regression technique enables us to investigate if the relationship between development dynamics and development assistance differs throughout the distributions of development dynamics. Findings – Three main findings are established. First, with slight exceptions, the effectiveness of aid in economic prosperity (at the macro level) increases in positive magnitude across the distribution. This implies high-growth countries are more likely to benefit from development assistance (in terms of general economic growth) than their low-growth counterparts. Second, the positive nexus between aid and per capita economic growth displays nonlinear patterns across distributions and specifications, with the correlations broadly higher in top quantiles than in bottom quantiles after controlling for the unobserved heterogeneity. Third, the aid-human development nexus is negative and almost similar in magnitude across distributions and specifications. Practical implications – As a policy implication, there is need to improve management of aid funds destined for health and education projects in the sampled countries. Moreover, given the magnitude of the nexuses, while blanket aid initiatives could be applied for policies targeting the human development index (due to the absence of significant differences in the magnitude of estimated coefficients), such are unlikely to succeed for aid targeting economic prosperity at macro and micro levels. From the weight of the findings, given a policy of balancing the impact of aid, it could be inferred that low-growth countries would need more aid than their high-growth counterparts because of the less positive effects in the former countries. Originality/value – This paper contributes to existing literature on the effectiveness of foreign aid by focussing on the distribution of the dependent variables (development dynamics). It is likely that high- and low-growth countries respond differently to development assistance. |
5. | Asongu, Simplice A The Review of Black Political Economy, 41 (4), pp. 455-480, 2014. Abstract | Links | BibTeX | Tags: Africa, Development, Foreign aid, Political economy @article{Asongu_681, author = {Simplice A Asongu}, url = {http://link.springer.com/article/10.1007/s12114-014-9203-0}, doi = {10.1007/s12114-014-9203-0}, year = {2014}, date = {2014-10-05}, journal = {The Review of Black Political Economy}, volume = {41}, number = {4}, pages = {455-480}, abstract = {This paper assesses the aid-development nexus in 52 African countries using updated data (1996–2010) and a new indicator of human development (adjusted for inequality). The effects of Total Net Official Development Assistance (NODA), NODA from the Development Assistance Committee (DAC) and NODA from Multilateral donors on economic prosperity (at national and per capita levels) are also examined. The findings broadly indicate that development assistance is detrimental to GDP growth, GDP per capita growth and inequality adjusted human development. The magnitude of negativity (which is consistent across specifications and development dynamics) is highest for NODA from Multilateral donors, followed by NODA from DAC countries. Given concerns on the achievement of the MDGs, the relevance of these results point to the deficiency of foreign aid as a sustainable cure to poverty in Africa. Though the stated intents or purposes of aid are socio-economic, the actual impact from the findings negates this. It is a momentous epoque to solve the second tragedy of foreign aid; it is high time economists and policy makers start rethinking the models and theories on which foreign aid is based. In the meantime, it is up to people who care about the poor to hold aid agencies accountable for piecemeal results. Policy implications and caveats are discussed.}, keywords = {Africa, Development, Foreign aid, Political economy}, pubstate = {published}, tppubtype = {article} } This paper assesses the aid-development nexus in 52 African countries using updated data (1996–2010) and a new indicator of human development (adjusted for inequality). The effects of Total Net Official Development Assistance (NODA), NODA from the Development Assistance Committee (DAC) and NODA from Multilateral donors on economic prosperity (at national and per capita levels) are also examined. The findings broadly indicate that development assistance is detrimental to GDP growth, GDP per capita growth and inequality adjusted human development. The magnitude of negativity (which is consistent across specifications and development dynamics) is highest for NODA from Multilateral donors, followed by NODA from DAC countries. Given concerns on the achievement of the MDGs, the relevance of these results point to the deficiency of foreign aid as a sustainable cure to poverty in Africa. Though the stated intents or purposes of aid are socio-economic, the actual impact from the findings negates this. It is a momentous epoque to solve the second tragedy of foreign aid; it is high time economists and policy makers start rethinking the models and theories on which foreign aid is based. In the meantime, it is up to people who care about the poor to hold aid agencies accountable for piecemeal results. Policy implications and caveats are discussed. |
2012 |
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6. | Asongu, Simplice A Journal of African Business, 13 (3), pp. 183-199, 2012. Abstract | Links | BibTeX | Tags: financial markets, government policy, Political economy @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} } 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. |