PUBLICATIONS

@article{Asongu_530,
author = {Simplice Asongu A Oasis Kodila-Tedika},
url = {http://www.emeraldinsight.com/doi/abs/10.1108/IJSE-11-2014-0234},
doi = {10.1108/IJSE-11-2014-0234},
year = {2016},
date = {2016-09-28},
journal = {International Journal of Social Economics},
volume = {43},
number = {10},
pages = {1016-1030},
abstract = {Purpose
The purpose of this paper is to assess the determinants of state fragility in Sub-Saharan Africa (SSA) using hitherto unexplored variables in the literature.

Design/methodology/approach
The previously missing dimension of nation building is integrated and the hypothesis of state fragility being a function of rent seeking and/or lobbying by de facto power holders is tested.

Findings
The resulting interesting finding is that political interference, rent seeking and lobbying increase the probability of state fragility by mitigating the effectiveness of governance capacity. This relationship (after controlling for a range of economic, institutional and demographic factors) is consistent with a plethora of models and specifications. The validity of the hypothesis is confirmed in a scenario of extreme state fragility. Moreover, the interaction between political interferences and revolutions mitigates the probability of state fragility while the interaction between natural resources and political interferences breeds the probability of extreme state fragility.

Practical implications
There are two main policy implications. First, political interference, rent seeking and lobbying are likely to increase the fragility of SSA nations. Second, there is a “Sub-Saharan African specificity” in “nation building” and prevention of conflicts. Blanket fragility-oriented policies will be misplaced unless they are contingent on the degree of fragility, since “fragile” and “extreme fragile” countries respond differently to economic, institutional and demographic characteristics of state fragility.

Originality/value
The study is timely given the political strife, violence and conflicts issues currently affecting African development.},
keywords = {Africa, Lobbying, Nation building, Rent seeking, State fragility},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_546,
author = {Julio Mukendi Kayembe Oasis Kodila-Tedika Simplice A. Asongu},
url = {http://www.tandfonline.com/doi/full/10.1080/10168737.2016.1204340},
doi = {10.1080/10168737.2016.1204340},
year = {2016},
date = {2016-08-16},
journal = {International Economic Journal},
abstract = {This study complements the inclusive growth literature by examining the determinants and consequences of the middle class in a continent where economic growth has been relatively high. The empirical evidence is based on a sample of 33 African countries for a 2010 cross-sectional study. Ordinary least squares, two-stage-least squares, three-stage-least squares and seemingly unrelated regressions estimation techniques are employed to regress a plethora of middle class indicators, notably, the: floating, middle-class with floating, middle-class without floating, lower-middle-income and upper-middle-income categories. Results can be classified into two main strands. First, results on determinants broadly show that GDP per capita and education positively affect all middle class dependent variables. However, we establish a negative nexus for the effect of ethnic fragmentation, political stability in general and partially for economic vulnerability. Simple positive correlations have been observed for: the size of the informal sector, openness and democracy. Second, on the consequences, the middle class enables the accumulation of human and infrastructural capital, while its effect is null on political stability and democracy in the short run but positive for governance and modernisation. Policy implications are discussed.},
keywords = {Africa, Inequality, middle class, Poverty},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu2016d,
title = {Information Sharing and Financial Sector Development in Africa},
author = {Asongu S A Tchamyou S. V.},
url = {http://www.tandfonline.com/doi/full/10.1080/15228916.2016.1216233},
doi = {10.1080/15228916.2016.1216233},
year = {2016},
date = {2016-08-13},
journal = {Journal of African Business},
abstract = {This study investigates the effect information sharing has on financial sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of financial sector development are employed, namely: financial sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) financial sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage.},
keywords = {Africa, Banking, Information Sharing},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_566,
author = {Simplice Asongu},
url = {http://dx.doi.org/10.1108/AJEMS-11-2012-0079},
doi = {10.1108/AJEMS-11-2012-0079},
year = {2016},
date = {2016-05-14},
journal = {African Journal of Economic and Management Studies},
volume = {7},
number = {2},
pages = {164 -204},
abstract = {Purpose
– A major lesson of the European Monetary Union crisis is that serious disequilibria in a monetary union result from arrangements not designed to be robust to a variety of shocks. With the specter of this crisis looming substantially and scarring existing monetary zones, the purpose of this paper is to complement existing literature by analyzing the effects of monetary policy on economic activity (output and prices) in the CEMAC and UEMOA CFA franc zones.

Design/methodology/approach
– VARs within the frameworks of Vector Error-Correction Models and Granger causality models are used to estimate the long- and short-run effects, respectively. Impulse response functions are further used to assess the tendencies of significant Granger causality findings. A battery of robustness checks are also employed to ensure consistency in the specifications and results.

Findings
–H1. monetary policy variables affect prices in the long-run but not in the short-run in the CFA zones (broadly untrue). This invalidity is more pronounced in CEMAC (relative to all monetary policy variables) than in UEMOA (with regard to financial dynamics of activity and size). H2. monetary policy variables influence output in the short-term but not in the long-run in the CFA zones. First, the absence of cointegration among real output and the monetary policy variables in both zones confirm the neutrality of money in the long term. With the exception of overall money supply, the significant effect of money on output in the short-run is more relevant in the UEMOA zone, than in the CEMAC zone in which only financial system efficiency and financial activity are significant.

Practical implications
– First, compared to the CEMAC region, the UEMOA zone’s monetary authority has more policy instruments for offsetting output shocks but fewer instruments for the management of short-run inflation. Second, the CEMAC region is more inclined to non-traditional policy regimes while the UEMOA zone dances more to the tune of traditional discretionary monetary policy arrangements. A wide range of policy implications are discussed. Inter alia: implications for the long-run neutrality of money and business cycles; implications for credit expansions and inflationary tendencies; implications of the findings to the ongoing debate; country-specific implications and measures of fighting surplus liquidity.

Originality/value
– The paper’s originality is reflected by the use of monetary policy variables, notably money supply, bank and financial credits, which have not been previously used, to investigate their impact on the outputs of economic activities, namely, real GDP output and inflation, in developing country monetary unions.},
keywords = {Africa, Banking, inflation, Monetary policy, Output effects},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_571,
author = {Simplice A. Asongu Oasis Kodila-Tedika},
url = {http://dx.doi.org/10.1108/IJSE-11-2014-0233},
doi = {10.1108/IJSE-11-2014-0233},
year = {2016},
date = {2016-04-26},
journal = {International Journal of Social Economics},
volume = {43},
number = {5},
pages = {466 - 485},
abstract = {Purpose
– Crimes and conflicts are seriously undermining African development. The purpose of this paper is to assess the best governance tools in the fight against the scourges.

Design/methodology/approach
– The authors assess a sample of 38 African countries. Owing to the cross-sectional structure of the data set, the authors adopt a heteroscedasticity consistent ordinary least squares estimation technique. For further robustness purposes, the authors employ Ramsey’s regression equation specification error test.

Findings
– The following findings are established. First, democracy, autocracy and voice and accountability have no significant negative correlations with crime. Second, the increasing relevance of government quality in the fight is as follows: regulation quality, government effectiveness, political stability, rule of law and corruption-control. Third, corruption-control is the most effective mechanism in fighting crime (conflicts).

Practical implications
– The findings are significantly strong when controlling for age dependency, number of police (and security) officers, per capita economic prosperity, educational level and population density. Justifications for the edge of corruption-control (as the most effective governance tool) and policy implications are discussed.

Originality/value
– The study is timely given the political instability, wars and conflicts currently marring African development.},
keywords = {Africa, Conflicts, Crimes, governance, Security},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_576,
author = {Hassen Toumi Simplice Asongu Ghassen El Montasser},
url = {http://link.springer.com/article/10.1007/s11356-015-5883-7},
doi = {10.1007/s11356-015-5883-7},
year = {2016},
date = {2016-04-05},
journal = {Environmental Science and Pollution Research},
volume = {23},
number = {7},
pages = {6563-6573},
abstract = {This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE), and economic growth (GDP; gross domestic product) in 24 African countries using a panel autoregressive distributed lag (ARDL) approach. The following findings are established. First, there is a long-run relationship between EC, CE, and GDP. Second, a long-term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the error correction mechanisms are consistently stable. However, in cases of disequilibrium, only EC can be significantly adjusted to its long-run relationship. Fourth, there is a long-run causality running from GDP and CE to EC. Fifth, we find causality running from either CE or both CE and EC to GDP, and inverse causal paths are observable. Causality from EC to GDP is not strong, which supports the conservative hypothesis. Sixth, the causal direction from EC to GDP remains unobservable in the short term. By contrast, the opposite path is observable. There are also no short-run causalities from GDP, or EC, or EC, and GDP to EC. Policy implications are discussed.},
keywords = {Africa, CO2 emissions, Economic growth, Energy consumption},
pubstate = {published},
tppubtype = {article}
}

@article{Asongu_580,
author = {John Ssozi Simplice Asongu},
url = {http://www.tandfonline.com/doi/abs/10.1080/15228916.2015.1089614},
doi = {10.1080/15228916.2015.1089614},
year = {2016},
date = {2016-03-16},
journal = {Journal of African Business},
volume = {17},
number = {1},
pages = {33-51},
abstract = {We survey about 110 recently published studies on Sino-African relations, and put some structure on the documented issues before suggesting some solutions and strategies to the identified policy syndromes. The documented issues are classified into the following eight main strands: China targeting nations with abundant natural resources, focusing on countries with bad governance, not hiring local workers; outbidding other countries by flouting environmental and social standards; importing workers that do not integrate into domestic society and living in extremely simple conditions, exhibiting low linkages between her operations and local businesses, exporting low quality products to Africa, and the emergence of China hindering Africa’s development. We sum up the discussion by reconciling the Beijing and Washington Consensuses.},
keywords = {Africa, China, foreign policy, socioeconomic relations},
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}
}