@article{Asongu_119,
author = {Nnanna Tchamyou J V S Asongu S. A.},
url = {https://jfin-swufe.springeropen.com/articles/10.1186/s40854-019-0166-9},
doi = {10.1186/s40854-019-0166-9},
year = {2020},
date = {2020-01-02},
journal = {Financial Innovation},
volume = {6},
number = {3},
pages = {1-41},
abstract = {This study assesses the role of globalization-fueled regionalization policies on the financial allocation efficiency of four economic and monetary regions in Africa from 1980 to 2008. Banking and financial system efficiency proxies are used as dependent variables and seven bundled and unbundled globalization variables are employed as independent indicators. The bundling is achieved by principal component analysis, while the empirical evidence is based on interactive fixed effects regressions. The findings are as follows. First, financial allocation efficiency is more sensitive to financial openness compared to trade openness and most sensitive to globalization. The relationship between allocation efficiency and globalization-fueled regionalization policies is defined by: (i) a Kuznets or inverted U-shaped curve in the UEMOA and CEMAC zones (evidence of decreasing returns for allocation efficiency from globalization-fueled regionalization) and (ii) a U-shaped relationship overwhelmingly in the COMESA and scantily in the EAC (increasing returns to allocation efficiency due to globalization-fueled regionalization). These relationships are relevant to the specific globalization dynamics within regions. Economic and monetary regions are more prone to surplus liquidity than pure economic regions are. Policy implications and measures for reducing surplus liquidity are also discussed.},
keywords = {Financial Development, Globalization},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_366,
author = {Vanessa Tchamyou S Simplice A. Asongu Uchenna Efobi},
url = {https://www.emeraldinsight.com/doi/pdfplus/10.1108/IJDI-04-2017-0038},
doi = {10.1108/IJDI-04-2017-0038},
year = {2018},
date = {2018-03-18},
journal = {International Journal of Development Issues},
volume = {17},
number = {1},
pages = {2-17},
abstract = {Purpose
This study aims to assess the effect of globalisation on governance in 51 African countries for the period 1996-2011.

Design/methodology/approach
Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised Method of Moments.

Findings
Firstly, on political governance, while only social globalisation improves political stability, only economic globalisation does not increase voice and accountability and political governance. Secondly, with regard to economic governance: only economic globalisation significantly promotes regulation quality; social globalisation and general globalisation significantly advance government effectiveness; and economic globalisation and general globalisation significantly promote economic governance. Thirdly, with respect to institutional governance, while only social globalisation improves corruption-control, the effects of globalisation dynamics on the rule of law and institutional governance are not significant. Fourthly, the impacts of social globalisation and general globalisation are positive on general governance.

Practical implications
It follows that political governance is driven by voice and accountability compared to political stability; economic governance is promoted by both regulation quality and government effectiveness from specific globalisation angles; and globalisation does not improve institutional governance for the most part.

Originality/value
Governance variables are bundled and unbundled to reflect evolving conceptions and definitions of governance. Theoretical contributions and policy implications are discussed.},
keywords = {Africa, Globalization, governance},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_709,
author = {Simplice A Asongu},
url = {http://dx.doi.org/10.1108/JES-04-2012-0048},
doi = {10.1108/JES-04-2012-0048},
year = {2014},
date = {2014-04-07},
journal = {Journal of Economic Studies},
volume = {41},
number = {3},
pages = {346 - 369},
abstract = {Purpose
– Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? The purpose of this paper is to assess the Lalountas et al. (2011) hypotheses (conclusions) in the African context.

Design/methodology/approach
– Though not form, yet in substance the intuition and motivation are compatible with those of Lalountas et al. (2011). Four hypotheses are tested from different methodological and contextual standpoints. In the analysis, while the economic and social dimensions of globalization are reflected in the human development index, the political dimension is captured by good governance indicators. A two-stage least squares-instrumental variable (TSLS-IV) estimation technique is applied where-in globalization instruments of trade and financial liberalization are instrumented on human development and government quality to account for corruption (corruption-control) effects. Thus the intuition is assessing how globalization is instrumental in the fight against corruption through human development (economic and social dimensions) and government quality (political dimension).

Findings
– H1: globalization is a powerful tool in fighting corruption (True). H2: globalization is an important tool in fighting corruption only in middle- and high-income countries (partially true). H3: for low-income countries globalization has no significant impact on corruption (true). H4: H1 and H2 are valid only under linearity (false).

Social implications
– In countries with high levels of per capita, emphasis is placed on the political and social dimensions of globalization and as a result the effects of this phenomenon on corruption-control are significant. Conversely, in nations with low levels of per capita income, emphasis is given to the economic dimension of international integration and as a result the effect of globalization on corruption is limited. As a policy implication, persistent globalization as an effective means to reduce corruption in developing countries might lead to inappropriate policies in low-income countries.

Originality/value
– This paper has tested the Lalountas et al. (2011) hypotheses in the continent where concerns of globalization, human development and corruption are most acute.},
keywords = {Africa, Corruption, Globalization, Wealth effects},
pubstate = {published},
tppubtype = {article}
}