PUBLICATIONS

@article{Asongu_431,
author = {Asongu & Kodila-Tedika S A O},
url = {https://link.springer.com/article/10.1007/s11205-017-1709-y},
doi = {10.1007/s11205-017-1709-y},
year = {2017},
date = {2017-07-27},
journal = {Social Indicators Research},
abstract = {Tebaldi and Mohan (Journal of Development Studies 46:1047–1066, 2010) have established an empirical relationship between institutions and monetary poverty. We first, reflect their findings in the light of recent development models, debates and currents in post-2010 literature. We then re-examine their results with a non-monetary and multidimensional poverty indicator first published in 2010. Our findings confirm the negative relationship and the nexus disappears with control for average income. Hence, confirming the conclusions of the underlying study that institutions could have an indirect effect on multidimensional poverty. In other words, the poverty eradication effect of institutions is through average income as opposed to income inequality. We discuss how the findings provide insights into: (1) the Chinese model versus sustainable development; (2) debates over preferences in economic rights; (3) China’s development and outlook; (4) the Fosu conjectures and (5) Piketty’s and Kuznets’ literatures.},
keywords = {Development, Institutions, Poverty},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_475,
author = {Simplice Asongu & Oasis Kodila-Tedika},
url = {http://www.emeraldinsight.com/doi/abs/10.1108/IJDI-08-2016-0046},
doi = {10.1108/IJDI-08-2016-0046},
year = {2017},
date = {2017-04-05},
journal = {International Journal of Development Issues},
volume = {16},
number = {1},
pages = {2-24},
abstract = {Purpose
This paper aims to assess the role of foreign aid in reducing the hypothetically negative impact of terrorism on trade using a panel of 78 developing countries with data for the period 1984-2008.

Design/methodology/approach
The empirical evidence is based on interactive generalised method of moment estimations with forward orthogonal deviations. Bilateral, multilateral and total aid dynamics are used, whereas terrorism entails domestic, transnational, unclear and total terrorism dynamics.

Findings
The following findings have been established. First, while bilateral aid has no significant effect on trade, multilateral aid and total aid have positive impacts. Second total terrorism, domestic terrorism and transnational terrorism increase trade with increasing order of magnitude. Third, corresponding negative marginal effects on the interaction between foreign aid (bilateral and total) and terrorism display thresholds that are within range. Fourth, there is scant evidence of positive net effects. Overall, the findings broadly indicate that foreign aid is a necessary but not a sufficient policy tool for completely dampening the effects of terrorism on trade.

Originality/value
There is a growing policy interest in the relationship between terrorism and international development outcomes.},
keywords = {Development, Foreign aid, terrorism, Trade Openness},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_486,
author = {Nwachukwu J C Asongu S. A},
url = {http://www.tandfonline.com/doi/full/10.1080/00213624.2017.1287510},
doi = {10.1080/00213624.2017.1287510},
year = {2017},
date = {2017-03-08},
journal = {Journal of Economic Issues},
volume = {51},
number = {1},
pages = {201-221},
abstract = {This article complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities, and the post-Berlin Wall period. Our findings show that, while foreign aid does not have a significant effect on political rights, foreign aid volatilities do mitigate democracy in recipient countries. Such volatilities could be used by populist parties to promote a neocolonial agenda, instill nationalistic sentiments, and consolidate their grip on power. This is especially true when donors are asking for standards that the majority of the population in control does not want and political leaders are unwilling to implement them. Our empirical evidence is based on 53 African countries for the period from 1996 to 2010. As a main policy implication, creating uncertainties in foreign aid for political rights enhancement in African countries may achieve the opposite results. We also discuss other implications, including the need for an “After-Washington” Consensus.},
keywords = {Africa, Development, Foreign aid, political rights, uncertainty},
pubstate = {published},
tppubtype = {article}
}

@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_507,
author = {Nwachukwu J C Asongu S. A},
url = {http://eaces.liuc.it/18242979201602/182429792016130204.pdf},
year = {2016},
date = {2016-12-23},
journal = {European Journal of Comparative Economics},
volume = {13},
number = {2},
pages = {221-246},
abstract = {An April 2015 World Bank report on the Millennium Development Goal poverty target has revealed that extreme poverty has been decreasing in all regions of the world with the exception of Africa. This study extends the implications of Thomas Piketty’s celebrated literature from developed countries to the nexus between developed nations and African countries by building on responses from Rogoff (2014) and Stiglitz (2014), post Washington Consensus paradigms and underpinnings from Solow-Swan and Boyce-Fofack-Ndikumana. The central argument presented is that the inequality problem is at the heart of rational asymmetric development between rich and poor countries. Piketty has shown that inequality increases when the return on capital is higher than the growth rate, because the poor cannot catch-up with the rich. We argue that when the return on political economy (or capitalism fuelled illicit capital flight) is higher than the growth rate in African countries, inequality in development increases and Africa may not catch-up with the developed world. As an ideal solution, Piketty has proposed progressive income taxation based on automatic exchange of bank information. The ideal analogy proposed in tackling the spirit of African poverty is a comprehensive commitment to fighting illicit capital flight based on this. Hence, contrary to theoretical underpinnings of exogenous growth models, catch-up may not be so apparent. Implications for the corresponding upward bias in endogenous development and catch-up literature are discussed.},
keywords = {Capital flight, Development, Foreign aid, Inequality, Piketty},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_524,
author = {Jacinta Nwachukwu C Simplice A. Asongu},
url = {http://link.springer.com/article/10.1007/s13563-016-0088-1},
doi = {10.1007/s13563-016-0088-1},
year = {2016},
date = {2016-10-05},
journal = {Mineral Economics},
abstract = {We employ interactive quantile regressions to assess conditional linkages between foreign aid, iron ore exports and terrorism from a panel of 78 developing countries for the period of 1984–2008. The following main findings are established. First, it is primarily in the countries with the highest level of iron ore exports that terrorism affects exports. Second, bilateral aid has an impact on iron ore exports, while the evidence for such a relationship between multilateral aid and iron ore exports is limited. Third, there is limited support for the main hypothesis motivating this line of inquiry, notably that foreign aid can be used to mitigate a potentially negative effect of terrorism on resource exports. The results suggest that bilateral aid is more relevant at mitigating the negative effects of domestic and total terrorism on iron ore exports.},
keywords = {Development, Exports, Foreign aid, Natural resources, terrorism},
pubstate = {published},
tppubtype = {article}
}

@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}
}

@article{Asongu_589,
author = {Jacinta Nwachukwu C Simplice A. Asongu},
url = {http://dx.doi.org/10.1108/JES-06-2014-0087},
doi = {10.1108/JES-06-2014-0087},
year = {2016},
date = {2016-01-12},
journal = {Journal of Economic Studies},
volume = {43},
number = {1},
pages = {141 - 164},
abstract = {Purpose
– Education as a weapon in the fight against conflict and violence remains widely debated in policy and academic circles. Against the background of growing political instability in Africa and the central role of the knowledge economy in twenty-first century development, this paper provides three contributions to existing literature. The purpose of this paper is to assess how political stability/non-violence is linked to the incremental, synergy and lifelong learning effects of education.

Design/methodology/approach
– The authors define lifelong learning as the combined knowledge acquired during primary, secondary and tertiary education. Principal component analysis is used to reduce the dimensions of educational and political indicators. An endogeneity robust dynamic system Generalized Methods of Moments is used for the estimations.

Findings
– The authors establish three main findings. First, education is a useful weapon in the fight against political instability. Second, there is an incremental effect of education in the transition from secondary to tertiary schools. Third, lifelong learning also has positive and synergy effects. This means that the impact of lifelong learning is higher than the combined independent effects of various educational levels. The empirical evidence is based on 53 African countries for the period 1996-2010.

Practical implications
– A plethora of policy implications are discussed, inter alia: how the drive towards increasing the knowledge economy through lifelong learning can be an effective tool in the fight against violence and political insurgency in Africa.

Originality/value
– As the continent is nursing knowledge economy ambitions, the paper is original in investigating the determinants of political stability/non-violence from three dimensions of education attainment: the incremental, the lifelong learning and a synergy effect.},
keywords = {Africa, Development, Lilfelong learning, Stability},
pubstate = {published},
tppubtype = {article}
}