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  1. Global dynamic timelines for IPRs harmonization against software piracy
    Autor*in: Andrés, Antonio R.; Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  Inst. for Advanced Development Studies, La Paz

    This paper employs a recent methodological innovation on intellectual property rights (IPRs) harmonization to project global timelines for common policies against business software piracy. The findings on 99 countries are premised on 15 fundamental... mehr

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    This paper employs a recent methodological innovation on intellectual property rights (IPRs) harmonization to project global timelines for common policies against business software piracy. The findings on 99 countries are premised on 15 fundamental characteristics of software piracy based on income-levels (high-income, lower-middle-income, uppermiddle- income and low-income), legal-origins (English common-law, French civil-law, German civil-law and, Scandinavian civil-law) and, regional proximity (South Asia, Europe & Central Asia, East Asia & the Pacific, Middle East & North Africa, Latin America & the Caribbean and, Sub-Saharan Africa). The results broadly show that a feasible horizon for the harmonization of blanket policies ranges from 4 to 10 years. -- software piracy ; intellectual property rights ; panel data ; convergence

     
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    hdl: 10419/87826
    Schriftenreihe: Development research working paper series ; 01/2013
    Umfang: Online-Ressource ([8] S.)
  2. The impact of formal institutions on knowledge economy
    Autor*in: Andrés, Antonio R.; Asongu, Simplice A.; Amavilah, Voxi Heinrich S.
    Erschienen: 2013
    Verlag:  Inst. for Advanced Development Studies, La Paz

    Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 136 (2013,5)
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    Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also employs the World Bank's four components of the knowledge economy index characteristic of its knowledge for development (K4D) framework. We estimate panel data models for 22 Middle East & North African and Sub-Sahara African countries over the period 1996-2010. The results show that for this group of countries the enforcement of IPR laws (treaties), although necessary, is not a sufficient condition for a knowledge economy. The results also suggest that other factors are more likely to determine the knowledge economies of these nations. Overall these findings have important implications for both policy and further research.

     
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    hdl: 10419/106332
    Schriftenreihe: Development research working paper series ; 05/2013
    Umfang: Online-Ressource (40 S.)
  3. New financial development indicators
    with a critical contribution to inequality empirics
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not... mehr

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    The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development context. This paper introduces complementary indicators to the existing Financial Development and Structure Database (FDSD). Dynamic panel system GMM estimations are applied. Different specifications, non-overlapping intervals and control variables are used to check the consistency of estimated coefficients. Our results suggest that from an absolute standpoint (GDP base measures), all financial sectors are pro-poor. However, three interesting findings are drawn from measures of sector importance. (1) The expansion of the formal financial sector to the detriment of other financial sectors has a disequalizing income effect. (2) Growth of informal and semi-formal financial sectors at the expense of the formal financial sector has an income equalizing effect. (3) The positive income redistributive effect of semi-formal finance in financial sector competition is higher than the corresponding impact of informal finance. It unites two streams of research by contributing at the same time to the macroeconomic literature on measuring financial development and responding to the growing field of economic development by means of informal financial sector promotion and microfinance. The paper suggests a practicable way to disentangle the effects of the various financial sectors on economic development. The equation of financial depth in the perspective of money supply to liquid liabilities has put on the margin the burgeoning informal financial sector in developing countries. The phenomenon of mobile banking is such an example.

     
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    hdl: 10419/123607
    Schriftenreihe: AGDI working paper ; WP/13/036
    Umfang: Online-Ressource (29 S.)
  4. Globalization and financial market contagion
    evidence from financial crisis and natural disasters
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    With financial globalization, investors can gain from diversification if returns from financial markets are stable and not correlated. However with volatility spillovers, increase in cross-market correlations exist as a real-effect and are not taken... mehr

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    With financial globalization, investors can gain from diversification if returns from financial markets are stable and not correlated. However with volatility spillovers, increase in cross-market correlations exist as a real-effect and are not taken into account for asset allocation and portfolio composition. This chapter assesses financial contagion from two recent trends in the world economy: the global financial crisis and the 2011 Japanese natural disasters (tsunami, earthquake and nuclear crises).

     
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    hdl: 10419/123609
    Schriftenreihe: AGDI working paper ; WP/13/035
    Umfang: Online-Ressource (27 S.)
  5. Determinants of health professionals' migration in Africa
    a WHO based assessment
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Abstract Purpose - How do economic prosperity, health expenditure, savings, price-stability, demographic change, democracy, corruption-control, press-freedom, government effectiveness, human development, foreign-aid, physical security, trade openness... mehr

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    Abstract Purpose - How do economic prosperity, health expenditure, savings, price-stability, demographic change, democracy, corruption-control, press-freedom, government effectiveness, human development, foreign-aid, physical security, trade openness and financial liberalization play-out in the fight against health-worker crisis when existing emigration levels matter? Despite the acute concern of health-worker crisis in Africa owing to emigration, lack of relevant data has made the subject matter empirically void over the last decades. Design/methodology/approach - A quantile regression approach is used to assess the determinants of health-worker emigration throughout the conditional distributions of health-worker emigration. This provides an assessment of the determinants when existing emigrations levels matter. Findings - Findings provide a broad range of tools for the fight against health-worker brain-drain. As a policy implication, blanket emigration-control policies are unlikely to succeed equally across countries with different levels of emigration. Thus to be effective, immigration policies should be contingent on the prevailing levels of the crisis and tailored differently across countries with the best and worst records on fighting health worker emigration. Originality/value - This paper has examined the theoretical postulations of a WHO report on determinants of health-worker migration.

     
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    hdl: 10419/123608
    Schriftenreihe: AGDI working paper ; WP/13/034
    Umfang: Online-Ressource (33 S.)
  6. Mobile banking and mobile phone penetration
    which is more pro-poor in Africa?
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The contribution of this paper to complement theoretical and qualitative mobile penetration literature with empirical evidence is twofold: firstly, we assess the income-redistributive effect of mobile phone penetration and; secondly, the... mehr

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    The contribution of this paper to complement theoretical and qualitative mobile penetration literature with empirical evidence is twofold: firstly, we assess the income-redistributive effect of mobile phone penetration and; secondly, the instrumentality of financial development dynamics in this nexus. Main findings suggest an equalizing income-redistributive effect of 'mobile phone penetration' and 'mobile banking', with a higher income-equalizing effect in the latter than in the former. Poverty alleviation channels explaining this difference in inequality mitigating propensity are discussed. The empirical evidence is based on 52 African countries and deviates from mainstream country-specific and microeconomic survey-based approaches.

     
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    Weitere Identifier:
    hdl: 10419/123610
    Schriftenreihe: AGDI working paper ; WP/13/033
    Umfang: Online-Ressource (22 S.)
  7. A note on the long-run neutrality of monetary policy
    new empirics
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of money... mehr

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    Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of money as an informational variable for monetary policy decision has remained opened to debate with empirical works providing mixed outcomes. This paper addresses two substantial challenges to this debate: the neglect of developing countries in the literature and the use of new financial dynamic fundamentals that broadly reflect monetary policy. The empirics are based on annual data from 34 African countries for the period 1980 to 2010. Using a battery of tests for integration and long-run equilibrium properties, results offer overall support for the traditional economic theory.

     
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    Weitere Identifier:
    hdl: 10419/123605
    Schriftenreihe: AGDI working paper ; WP/13/032
    Umfang: Online-Ressource (16 S.)
  8. Liberalization and financial sector competition: a critical contribution to the empirics with an African assessment
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper investigates how financial, trade, institutional and political liberalization policies have affected financial sector competition in Africa using updated data to appraise second generation reforms. The 'freedom to trade' and 'economic... mehr

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    This paper investigates how financial, trade, institutional and political liberalization policies have affected financial sector competition in Africa using updated data to appraise second generation reforms. The 'freedom to trade' and 'economic freedom' indices are employed. Hitherto, unexplored financial sector concepts of formalization, semi-formalization, informalization and non-formalization are also introduced. The following findings are established. Firstly, relative to money supply: (1) with the exception of the economic freedom mechanism, liberalization policies have generally decreased the growth of the formal financial sector to the benefit of other financial sectors; (2) apart from the foreign direct investment and economic freedom channels, liberalization policies have been fruitful for semi-formal financial development at the cost of other financial sectors and; (3) with the exception of economic freedom, both the informal and non-formal sectors have developed owing to liberalization to the detriment of the formal financial sector. Secondly, relative to GDP, the semi-formal, informal and/or non-formal financial sectors have also generally improved as a result of liberalization. Policy implications are discussed.

     
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    hdl: 10419/123611
    Schriftenreihe: AGDI working paper ; WP/13/031
    Umfang: Online-Ressource (41 S.)
  9. REER imbalances and macroeconomic adjustments in the proposed West African Monetary Union
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    With the spectre of the Euro crisis hunting embryonic monetary unions, we use a dynamic model of a small open economy to analyze REERs imbalances and examine whether the movements in the aggregate real exchange rates are consistent with the... mehr

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    With the spectre of the Euro crisis hunting embryonic monetary unions, we use a dynamic model of a small open economy to analyze REERs imbalances and examine whether the movements in the aggregate real exchange rates are consistent with the underlying macroeconomic fundamentals in the proposed West African Monetary Union (WAMU). Using both country-oriented and WAMU panel-based specifications, we show that the long-run behavior of the REERs can be explained by fluctuations in the terms of trade, productivity, investment, debt and openness. While there is still significant evidence of cross-country differences in the relationship between underlying macroeconomic fundamentals and corresponding REERs, the embryonic WAMU has a stable error correction mechanism with four of the five cointegration relations having signs that are consistent with the predictions from economic theory. Policy implications are discussed and the conclusions of the analysis are a valuable contribution to the scholarly and policy debate over whether the creation of a sustainable monetary union should precede convergence in macroeconomic fundamentals that determine REER adjustments.

     
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    hdl: 10419/123606
    Schriftenreihe: AGDI working paper ; WP/13/030
    Umfang: Online-Ressource (24 S.)
  10. Finance and growth
    new evidence from meta-analysis
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - In a meta-study, we have bridged the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach - Over 20 fundamental characteristics that have influenced the debate over the last decades have been... mehr

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    Purpose - In a meta-study, we have bridged the gap between the pros and cons of a questionable finance-growth nexus. Design/methodology/approach - Over 20 fundamental characteristics that have influenced the debate over the last decades have been examined. The empirical evidence is based on 196 outcomes from 20 studies. We assess the degree of heterogeneity and identify causes of the observed differentiation. Findings - Our findings also show evidence of publication bias. Overall, a genuine effect exists between financial development and economic growth. A finance-growth nexus might not be appealing in our era because of: endogeneity-based estimations, publication bias and, effects of financial activity. A historical justification has also been discussed. Practical implications - Encouraging the publication of results with findings that are not consistent with the mainstream positive finance-growth nexus should provide new scholarly insights into the relationship. Depending on the specific context of sampled countries, the role of policy has also been to encourage financial development through measures that may expose countries to negative external shocks like financial crises. Policy makers that have been viewing the challenges of development exclusively from this point of view for the rewards of growth may not be getting the financial dynamics correctly. Originality/value - Very few meta-analysis studies have focused on the finance-growth nexus.

     
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    hdl: 10419/123595
    Schriftenreihe: AGDI working paper ; WP/13/029
    Umfang: Online-Ressource (26 S.), graph. Darst.
  11. Fighting African corruption when existing corruption-control levels matter in a dynamic cultural setting
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - This paper assesses the determinants of corruption-control with freedom dynamics (economic, political, press and trade), government quality and a plethora of socio-economic factors in 46 African countries using updated data.... mehr

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    Purpose - This paper assesses the determinants of corruption-control with freedom dynamics (economic, political, press and trade), government quality and a plethora of socio-economic factors in 46 African countries using updated data. Design/methodology/approach - A quantile regression approach is employed while controlling for the unobserved heterogeneity. Principal component analysis is also used to reduce the dimensions of highly correlated variables. Findings - With the legal origin fundamental characteristic, the following findings have been established. (1) While political freedom increases corruption-control (CC) in a bottom quantile of English common law countries, there is no such evidence in their French civil law counterparts. (2) Government quality consistently improves CC across all quantiles in English common law countries but fails to exert the same effect in middle quantiles of French civil law countries. (3) Economic freedom ameliorates CC only in common law countries with low existing CC levels (bottom quantiles). (4) We find no significant evidence of a positive 'press freedom'-CC nexus and having the status of Low income English common law (French civil law) countries decreases (increases) CC. From a religious domination scenario, we also find the following. (1) Political and trade freedoms only reduce CC in Christian dominated countries while press freedom has a mitigation effect in both religious cultures (though more consistent across quantiles of Christian-oriented countries). (2) Government quality is more pro-CC in Christian than in Muslim-dominated countries. (3) While economic freedom has a scanty negative nexus with CC in Christian-oriented countries, the effect is positive in their Muslim-dominated counterparts. (4) Having a low-income status in countries with Christian common law tradition improves CC. Originality/value - We complement the literature on the fight against corruption in Africa by employing recently documented additional factors that should be considered in corruption studies.

     
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    hdl: 10419/123597
    Schriftenreihe: AGDI working paper ; WP/13/028
    Umfang: Online-Ressource (23 S.)
  12. How do institutions matter in the income-equalizing effect of mobile phone penetration?
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The object of this paper is to complement theoretical 'mobile penetration' literature with empirical evidence in a dual manner: on the one hand, assess the income-redistributive effect of mobile phone penetration and; on the other hand, the... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 524 (13,27)
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    The object of this paper is to complement theoretical 'mobile penetration' literature with empirical evidence in a dual manner: on the one hand, assess the income-redistributive effect of mobile phone penetration and; on the other hand, the instrumentality of good governance in this nexus. Main findings suggest an equalizing income-redistributive effect, with a higher magnitude in the presence of government quality instruments. It follows that, good governance is a necessary condition for a higher income-equalizing effect of mobile phone penetration. The empirical evidence which deviates from mainstream country-specific and microeconomic survey-based approaches is on 52 African countries. 'Mobile phone'-oriented poverty reduction channels are also discussed.

     
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    hdl: 10419/123603
    Schriftenreihe: AGDI working paper ; WP/13/027
    Umfang: Online-Ressource (13 S.)
  13. On the obituary of scientific knowledge monopoly
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The August 15th 2013 Shanghai Academic Rankings of World Universities (ARWU) should leave policy makers wondering about whether the impressive growth experienced by 'latecomers in the industry' has moved hand-in-hand with contribution to knowledge by... mehr

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    The August 15th 2013 Shanghai Academic Rankings of World Universities (ARWU) should leave policy makers wondering about whether the impressive growth experienced by 'latecomers in the industry' has moved hand-in-hand with contribution to knowledge by means of scientific publications. Against this background, we model the obituary of scientific knowledge monopoly in 99 countries using 21 catch-up panels from 6 regions (South Asia, Europe & Central Asia, East Asia & the Pacific, Middle East & North Africa, Latin America & the Caribbean and, Sub-Saharan Africa). The findings broadly show that the obituary of scientific knowledge monopoly by developed countries is not in the near-horizon. Advanced nations that have mastered the dynamics of knowledge monopoly will continue to lead the course of knowledge economy. Justifications for the patterns and policy implications are discussed.

     
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    hdl: 10419/123596
    Schriftenreihe: AGDI working paper ; WP/13/026
    Umfang: Online-Ressource (22 S.)
  14. The impact of formal institutions on knowledge economy
    Autor*in: Andrés, Antonio R.; Asongu, Simplice A.; Amavilah, Voxi S. H.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 524 (13,25)
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    Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also employs the World Bank's four components of the knowledge economy index characteristic of its knowledge for development (K4D) framework. We estimate panel data models for 22 Middle East & North African and Sub-Sahara African countries over the period 1996-2010. The results show that for this group of countries the enforcement of IPR laws (treaties), although necessary, is not a sufficient condition for a knowledge economy. The results also suggest that other factors are more likely to determine the knowledge economies of these nations. Overall these findings have important implications for both policy and further research.

     
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    hdl: 10419/123600
    Schriftenreihe: AGDI working paper ; WP/13/025
    Umfang: Online-Ressource (41 S.)
  15. Trust and prosperity
    a conditional relationship
    Autor*in: Asongu, Simplice A.; Kodila-Tedika, Oasis
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The paper extends Breggren et al. (2008, EE) on "trust and growth: a shaky relationship" by incorporating recent developments in the trust-growth literature and using a robust methodological underpinning that accounts for the presence of outliers.... mehr

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    The paper extends Breggren et al. (2008, EE) on "trust and growth: a shaky relationship" by incorporating recent developments in the trust-growth literature and using a robust methodological underpinning that accounts for the presence of outliers. The empirical evidence is based on 63 countries. Two main findings are established. Firstly, the substantially documented positive trust-growth nexus is broadly confirmed. Secondly, when initial levels of growth come into play in determining the relationship, only 0.25 and 0.90 quantiles confirm the positive nexus. The results suggest that the trust-growth nexus cannot be generalized for all countries as some previous studies have concluded. Accordingly, trust-growth policies should be contingent on existing levels of development and tailored differently across rich and poor countries.

     
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    hdl: 10419/123598
    Schriftenreihe: AGDI working paper ; WP/13/024
    Umfang: Online-Ressource (17 S.)
  16. The 'knowledge economy'-finance nexus
    how do IPRs matter in SSA and MENA countries?
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper assesses the relevance of intellectual property rights (IPRs) in the knowledge economy (KE)-finance nexus using the four variables identified under the World Bank's knowledge economy index (KEI) and seven financial intermediary dynamics of... mehr

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    This paper assesses the relevance of intellectual property rights (IPRs) in the knowledge economy (KE)-finance nexus using the four variables identified under the World Bank's knowledge economy index (KEI) and seven financial intermediary dynamics of depth, efficiency, activity and size. Three main findings are established: (1) education increases financial dynamics of depth and size; (2) economic incentives by means of credit facilities (trade openness) mitigate financial dynamics of efficiency and activity (financial dynamics of depth and size) and; (3) ICT and FDI both improve financial depth and decrease financial size (with FDI having an additional edge of improving financial activity). As a policy implication, the enforcement of IPRs is not a general and sufficient condition for positive KE-finance nexuses. Hence, blanket upholding of IPRs to achieve such positive linkages may not be successful unless policy is contingent on the prevailing 'KE specific component' trends and dynamics of financial development.

     
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    hdl: 10419/123601
    Schriftenreihe: AGDI working paper ; WP/13/023
    Umfang: Online-Ressource (17 S.)
  17. The 'knowledge economy'-finance nexus in SSA and MENA countries
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - This paper assesses dynamics of the knowledge economy (KE)-finance nexus using the four variables identified under the World Bank's knowledge economy index (KEI) and seven financial intermediary dynamics of depth, efficiency, activity and... mehr

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    Purpose - This paper assesses dynamics of the knowledge economy (KE)-finance nexus using the four variables identified under the World Bank's knowledge economy index (KEI) and seven financial intermediary dynamics of depth, efficiency, activity and size. Design/methodology/approach - Principal Component Analysis is used to reduce the dimensions of KE components before dynamic panel GMM estimation techniques are employed to examine the nexuses. Findings - Four main findings are established. (1) Education improves financial depth and financial efficiency but mitigates financial size. (2) But for a thin exception (trade's incidence on money supply), economic incentives (credit facilities and trade) are not consistently favorable to financial development. (3) ICT improves only financial size and has a negative effect on other financial dynamics. (4) Proxies for innovation (journals and FDI) have a positive effect on financial activity; journals (FDI) have (has) a negative (positive) effect on liquid liabilities and; journals and FDI both have negative incidences on money supply and banking system efficiency respectively. Practical Implications - As a policy implication, the KE-finance nexus is a complex and multidimensional relationship. Hence, blind and blanket policy formulation to achieve positive linkages may not be successful unless policy-making strategy is contingent on the prevailing 'KE specific component' trends and dynamics of financial development. Policy makers should improve the economic incentive dimension of KE that overwhelmingly and consistently deters financial development, owing to surplus liquidity issues. Originality/value - As far as we have reviewed, this is the first paper to examine the KE-finance nexus with the plethora of KE dimensions defined by the World Bank's KEI and all the dynamics identified by the Financial Development and Structure Database (FDSD).

     
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    hdl: 10419/123602
    Schriftenreihe: AGDI working paper ; WP/13/022
    Umfang: Online-Ressource (21 S.)
  18. The impact of mobile phone penetration on African inequality
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - The aim of this paper is to complement theoretical and qualitative literature with empirical evidence on the income-redistributive effect of mobile phone penetration in 52 African countries. Design/methodology/approach - Robust Ordinary... mehr

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    Purpose - The aim of this paper is to complement theoretical and qualitative literature with empirical evidence on the income-redistributive effect of mobile phone penetration in 52 African countries. Design/methodology/approach - Robust Ordinary Least Squares and Two Stage Least Squares empirical strategies are employed. Findings - The findings suggest that mobile penetration is pro-poor, as it has a positive income equality effect. Social implications - 'Mobile phone'-oriented poverty reduction channels are discussed. Originality/value - It deviates from mainstream country-specific and microeconomic survey-based approaches in the literature and provides the first macroeconomic assessment of the ‘mobile phone’-inequality nexus.

     
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    hdl: 10419/123599
    Schriftenreihe: AGDI working paper ; WP/13/021
    Umfang: Online-Ressource (18 S.)
  19. The economic consequences of China-Africa relations
    debunking myths in the debate
    Autor*in: Asongu, Simplice A.; Aminkeng, Gilbert A. A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    This study dissects with great acuteness some of the big questions on China-Africa relations in order to debunk burgeoning myths surrounding the nexus. It reviews a wealth of recent literature and presents the debate in three schools of thought. No... mehr

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    This study dissects with great acuteness some of the big questions on China-Africa relations in order to debunk burgeoning myths surrounding the nexus. It reviews a wealth of recent literature and presents the debate in three schools of thought. No substantial empirical evidence is found to back-up sinister prophesies of coming catastrophe from critics of the direction of China-Africa relations. In the mean, the relationship from an economic standpoint is promising and encouraging but more needs to be done regarding multilateral relations, improvement of institutions and sustainability of resources management. A number of positive signs suggest that China is heading toward the direction which would provide openings for a multipolar dialogue. While benefiting in the short-run, African governments have the capacity to tailor this relationship and address some socio-economic matters arising that may negatively affect the nexus in the long-term. Policy implications are discussed.

     
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    hdl: 10419/123604
    Schriftenreihe: AGDI working paper ; WP/13/020
    Umfang: Online-Ressource (30 S.)
  20. State fragility, rent seeking and lobbying: evidence from African data
    Autor*in: Asongu, Simplice A.; Kodila-Tedika, Oasis
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper assesses the determinants of state fragility in sub-Saharan Africa using hitherto unexplored variables in the literature. The previously missing dimension of nation building is integrated and the hypothesis of state fragility being a... mehr

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    This paper assesses the determinants of state fragility in sub-Saharan Africa using hitherto unexplored variables in the literature. 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. 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 mitigate the probability of state fragility while the interaction between natural resources and political interferences breeds the probability of extreme state fragility. As a policy implication, 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.

     
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    hdl: 10419/123593
    Schriftenreihe: AGDI working paper ; WP/13/019
    Umfang: Online-Ressource (20 S.)
  21. On the channels of foreign aid to corruption
    Autor*in: Asongu, Simplice A.; Jellal, Mohammed
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    The debate by Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) on 'the effect of foreign aid on corruption' in its current state has the shortcoming of modeling corruption as a direct effect of development assistance. This note extends the... mehr

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    The debate by Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) on 'the effect of foreign aid on corruption' in its current state has the shortcoming of modeling corruption as a direct effect of development assistance. This note extends the debate by assessing the channels of foreign aid to corruption in 53 African countries for the period 1996-2010. Two main findings are established to unite the two streams of the debate. (1) Foreign aid channeled through government’s consumption expenditure increases corruption. (2) Development assistance channeled via private investment and tax effort decreases corruption. It follows that foreign aid that is targeted towards reducing corruption should be channeled via private investment and tax effort, not through government expenditure. Our results integrate an indirect component and reconcile the debate by showing that, the effect could either be positive or negative depending on the transmission channel.

     
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    hdl: 10419/123592
    Schriftenreihe: AGDI working paper ; WP/13/018
    Umfang: Online-Ressource (16 S.)
  22. On the effectiveness of foreign aid in institutional quality
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    We extend the Okada & Samreth (2012, EL) and Asongu (2012, EB) debate on 'the effect of foreign aid on corruption' by: not partially negating the former's methodological underpinning (as in the latter's approach) with a unifying empirical framework... mehr

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    We extend the Okada & Samreth (2012, EL) and Asongu (2012, EB) debate on 'the effect of foreign aid on corruption' by: not partially negating the former's methodological underpinning (as in the latter's approach) with a unifying empirical framework and; broadening the horizon of inquiry from corruption to eight institutional quality dynamics (rule of law, regulation quality, government effectiveness, democracy, corruption, voice & accountability, control of corruption and political stability). Core to this extension is a hypothetical contingency of the 'institutional perils of foreign aid' on existing institutional quality such that, the institutional downside of development assistance maybe questionable when greater domestic institutional development has taken place. Based on the hypothesis of institutional thresholds for foreign aid effectiveness, the perilous character of development assistance to institutional quality is broadly confirmed in 53 African countries for the period 1996-2010.

     
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    hdl: 10419/123594
    Schriftenreihe: AGDI working paper ; WP/13/017
    Umfang: Online-Ressource (13 S.)
  23. New empirics of monetary policy dynamics
    evidence from the CFA franc zones
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - A major lesson of the EMU 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... mehr

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    Purpose - A major lesson of the EMU 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 present study has complemented 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 VECMs and Granger causality models are used to estimate the long-run 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 - Hypothesis 1: 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). Hypothesis 2: Monetary policy variables influence output in the short-term but not in the long-run in the CFA zones. Firstly, the absence of co-integration among real output and the monetary policy variables in both zones confirm the long-term dimension of the hypothesis on the neutrality of money. The validity of its short-run dimension is more relevant in the UEMOA zone (with the exception of overall money supply) than in the CEMAC zone (in which only financial dynamics of 'financial system efficiency' and financial activity support the hypothesis). Practical Implications - (1) 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. (2) 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 - By using a plethora of hitherto unemployed financial dynamics (that broadly reflect money supply), we have provided a significant contribution to the empirics of monetary policy. The conclusion of the analysis is a valuable contribution to the scholarly and policy debate on how money matters as an instrument of economic activity in developing countries and monetary unions.

     
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    hdl: 10419/123590
    Schriftenreihe: AGDI working paper ; WP/13/016
    Umfang: Online-Ressource (43 S.), graph. Darst.
  24. Modeling the future of knowledge economy: evidence from SSA and MENA countries
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper projects the future of knowledge economy (KE) in SSA and MENA countries using the four components of the World Bank's Knowledge Economy Index (KEI): economic incentive, education, ICTs and innovation. The empirical evidence provides the... mehr

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    This paper projects the future of knowledge economy (KE) in SSA and MENA countries using the four components of the World Bank's Knowledge Economy Index (KEI): economic incentive, education, ICTs and innovation. The empirical evidence provides the speeds of integration as well as the time necessary to achieve full integration. Findings broadly indicate SSA and MENA countries with low levels in KE will catch-up their counterparts with higher levels in a horizon of 4 to 7.5 years.

     
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    hdl: 10419/123585
    Schriftenreihe: AGDI working paper ; WP/13/015
    Umfang: Online-Ressource (14 S.)
  25. Inequality, poverty and quality of institutions
    which freedom channels of globalization matter for Africa?
    Autor*in: Asongu, Simplice A.
    Erschienen: 2013
    Verlag:  African Governance and Development Institute (AGDI), [Yaoundé]

    Are formal institutions instrumental in the effect globalization mechanisms have on the human face? If so, through which freedoms channels are poverty and inequality mitigated? With the instrumentality of formal institutions: (1) de jure financial... mehr

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    Are formal institutions instrumental in the effect globalization mechanisms have on the human face? If so, through which freedoms channels are poverty and inequality mitigated? With the instrumentality of formal institutions: (1) de jure financial liberalization (KAOPEN) has a positive income-redistribution impact while the de facto measure (FDI) does not; (2) political liberalization has a disequalizing effect and; (3) economic freedom has a positive (negative) effect on inequality (poverty). Hence, economic freedom does not stop the wealthy from growing wealthier, but at the same time provides for conditions that mitigate poverty. The findings broadly show that, despite the substantially documented negative incidences of some channels of globalization on poverty (and inequality), formal institutions have the capacity to device policies that will give capital openness, trade and economic liberalizations a human face. Social implications and policy options are discussed.

     
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    hdl: 10419/123586
    Schriftenreihe: AGDI working paper ; WP/13/014
    Umfang: Online-Ressource (19 S.)