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  1. Global dynamic timelines for IPRs harmonization against software piracy
    Author: Andrés, Antonio R.; Asongu, Simplice A.
    Published: 2013
    Publisher:  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... more

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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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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/87826
    Series: Development research working paper series ; 01/2013
    Scope: Online-Ressource ([8] S.)
  2. The impact of formal institutions on knowledge economy
    Author: Andrés, Antonio R.; Asongu, Simplice A.; Amavilah, Voxi Heinrich S.
    Published: 2013
    Publisher:  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... more

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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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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/106332
    Series: Development research working paper series ; 05/2013
    Scope: Online-Ressource (40 S.)
  3. Globalization, peace & stability, governance, and knowledge economy
    Author: Amavilah, Voxi Heinrich S.; Asongu, Simplice A.; Andrés, Antonio R.
    Published: 2014
    Publisher:  Inst. for Advanced Development Studies, La Paz

    A previous analysis of the impact of formal institutions on the knowledge economy of 22 Middle-Eastern and Sub-Sahara African countries during the 1996-2010 time period concluded that formal institutions were necessary, but inadequate, determinants... more

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    A previous analysis of the impact of formal institutions on the knowledge economy of 22 Middle-Eastern and Sub-Sahara African countries during the 1996-2010 time period concluded that formal institutions were necessary, but inadequate, determinants of the knowledge economy. To extend that study, this paper claims that globalization induces peace and stability, which affects governance and through governance the knowledge economy. The claim addresses one weakness of previous research that did not consider the effects on the knowledge economy of globalization. We model the proposition as a three-stage process in four hypotheses, and estimate each hypothesis using robust estimators that are capable of dealing with the usual statistical problems without sacrificing economic relevance and significance. The results indicate that globalization has varying effects on peace and stability, and peace and stability affect governance differently depending on what kind of globalization induces it. For instance, the effects on governance induced by globalization defined as trade are stronger than those resulting from globalization taken to be foreign direct investment. Hence, we conclude that foreign direct investment is not a powerful mechanism for stimulating and sustaining the knowledge economy in our sample of countries. However, since globalization-induced peace and stability have both positive and negative effects on governance simultaneously, we also conclude that while the prospect for knowledge economy in African countries is dim, it is still realistic and attainable as long as these countries continue to engage in the kind of globalization that does indeed induce peace and stability. We further conclude that there is a need for a sharper focus on economic and institutional governance than on general governance as one possible extension of this paper.

     
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/106342
    Series: Development research working paper series ; 04/2014
    Scope: Online-Ressource ([35] S.)
  4. The sensitive nature of social trust to intelligence
    Author: Kodila-Tedika, Oasis; Asongu, Simplice A.; Azia-Dimbu, Florentin
    Published: February 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    This study investigates the relationship between social trust and intelligence. The extreme bound analysis of Levine and Renelt is employed to directly assess the strength of the nexus. The findings confirm the positive and robust nexus between... more

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    This study investigates the relationship between social trust and intelligence. The extreme bound analysis of Levine and Renelt is employed to directly assess the strength of the nexus. The findings confirm the positive and robust nexus between social trust and intelligence. We have contributed to the literature by confirming that the previously established positive linkage between intelligence and trust is not statistically fragile. In fact the nexus withstands further empirical scrutiny with more robust empirical strategies.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149929
    Series: AGDI working paper ; WP/16/005
    Scope: 1 Online-Ressource (10 Seiten)
  5. Financial development and geographic isolation
    global evidence
    Author: Kodila-Tedika, Oasis; Asongu, Simplice A.; Cinyabuguma, Matthias M.
    Published: March 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    Using cross-country differences in the degree of isolation before the advent of technologies in sea and air transportation, we assess the relationship between geographic isolation and financial development across the globe. We find that pre-historic... more

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    Using cross-country differences in the degree of isolation before the advent of technologies in sea and air transportation, we assess the relationship between geographic isolation and financial development across the globe. We find that pre-historic geographical isolation has been beneficial to development because it has contributed to contemporary cross-country differences in financial development. The relationship is robust to alternative samples, different estimation techniques, outliers and varying conditioning information sets.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149938
    Series: AGDI working paper ; WP/16/014
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  6. FDI and growth in the MENA countries
    are the GCC countries different?
    Author: Gammoudi, Mouna; Cherif, Mondher; Asongu, Simplice A.
    Published: June 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    This paper examines the relationship between Foreign Direct Investment (FDI) and per capita Gross Domestic Product (GDP) in the Middle East and North Africa (MENA) region for the period 1985-2009. The empirical evidence is based on an... more

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    This paper examines the relationship between Foreign Direct Investment (FDI) and per capita Gross Domestic Product (GDP) in the Middle East and North Africa (MENA) region for the period 1985-2009. The empirical evidence is based on an endoeneity-robust Generalised Method of Moments. Results show that the effect of FDI on per capita income in the Gulf Cooperation Council (GCC) countries is positive but negative in Non-GCC countries. Results also reveal that in contrast to the GCC countries, the financial openness policy in the Non-GCC countries have reduced the benefits of FDI on growth, this finding is explained by the fact that most of the Non-GCC countries that have engaged in the process of financial reforms have poor quality of institutions. These results are confirmed with both annual data and five year average data.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149939
    Series: AGDI working paper ; WP/16/015
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  7. The white man's burden
    on the effect of African resistance to European domination
    Author: Kodila-Tedika, Oasis; Asongu, Simplice A.; Cinyabuguma, Matthias M.
    Published: March 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    Are there contemporary development effects of African resistance to European domination? This question is the primary issue addressed by this inquiry. We establish that African resistance has had adverse effects on post-colonial African development... more

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    Are there contemporary development effects of African resistance to European domination? This question is the primary issue addressed by this inquiry. We establish that African resistance has had adverse effects on post-colonial African development and discuss possible channels of such causality. This relationship is robust to alternative model and to controlling for the outliers.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149940
    Series: AGDI working paper ; WP/16/016
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  8. Globalization and governance
    a critical contribution to the empirics
    Author: Asongu, Simplice A.; Efobi, Uchenna Rapuluchukwu; Tchamyou, Vanessa S.
    Published: May 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    This study assesses the effect of globalisation on governance in 51 African countries for the period 1996-2011. Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised... more

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    This study assesses the effect of globalisation on governance in 51 African countries for the period 1996-2011. Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised Method of Moments. The following findings are established. First, on political governance, only social globalisation improves political stability while only economic globalisation does not increase voice & accountability and political governance. Second, with regard to economic governance: (i) only economic globalisation significantly promote regulation quality; (ii) social globalisation and general globalisation significantly advance government effectiveness and (iii) economic globalisation and general globalisation significantly promote economic governance. Third, as concerns institutional governance, whereas only social globalisation improves corruption-control, the effects of globalisation dynamics on the rule of law and institutional governance are not significant. Fourth, the impacts of social globalisation and general globalisation are positive on general governance. It follows that: (i) political governance is driven by voice and accountability compared to political stability; (ii) economic governance is promoted by both regulation quality and government effectiveness from specific globalisation angles and (iii) globalisation does not improve institutional governance for the most part. Theoretical contributions and policy implications are discussed.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149941
    Series: AGDI working paper ; WP/16/017
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  9. Military expenditure, terrorism and capital flight
    insights from Africa
    Author: Asongu, Simplice A.; Amankwah-Amoah, Joseph
    Published: June 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    In spite of the growing consensus of the need to utilise military expenditure to help combat terrorism, our understanding of the threshold at which military expenditure reduces the effect of terrorism stemming from capital flight remains largely... more

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    In spite of the growing consensus of the need to utilise military expenditure to help combat terrorism, our understanding of the threshold at which military expenditure reduces the effect of terrorism stemming from capital flight remains largely underexplored. We employed a panel data of 37 African countries from 1996-2010 and determined that the thresholds are apparent exclusively in Quantile Regressions with military expenditure thresholds ranging from: 4.224 to 5.612 for domestic terrorism, 5.734 to 7.363 for unclear terrorism and 4.710 to 6.617 for total terrorism. No thresholds are apparent in transnational terrorism related regressions. Depending on the terrorist target, the findings broadly show that a critical mass of between 4.224 and 7.363 of military expenditure as a percentage of GDP is needed to reverse the effects of terrorism stemming from capital flight. Implications for public policy are discussed.

     
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    Other identifier:
    hdl: 10419/149942
    Series: AGDI working paper ; WP/16/018
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  10. Law, politics and the quality of government in Africa
    Author: Asongu, Simplice A.; Nwachukwu, Jacinta C.
    Published: January 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    This paper examines interconnections between law, politics and the quality of government in Africa. We investigate whether African democracies enjoy relatively better government quality compared to their counterparts with more autocratic... more

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    This paper examines interconnections between law, politics and the quality of government in Africa. We investigate whether African democracies enjoy relatively better government quality compared to their counterparts with more autocratic inclinations. The empirical evidence is based on Instrumental variable Two-Stage-Least Squares and Fixed Effects with data from 38 African countries for the period 1994-2010. Political regimes of democracy, polity and autocracy are instrumented with income-levels, legal-origins, religious-dominations and press-freedom to account for government quality dynamics, of corruption-control, government-effectiveness, voice and accountability, political-stability, regulation quality and the rule of law. Findings show that democracy has an edge over autocracy while the latter and polity overlap. As a policy implication, democracy once initiated should be accelerated to edge the appeals of authoritarian regimes.

     
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    Language: English
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    Format: Online
    Other identifier:
    hdl: 10419/149943
    Series: AGDI working paper ; WP/16/019
    Scope: 1 Online-Ressource (circa 29 Seiten)
  11. Is the threat of foreign aid withdrawal an effective deterrent to political oppression?
    evidence from 53 African countries
    Author: Asongu, Simplice A.; Nwachukwu, Jacinta C.
    Published: January 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    This study complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities and the post-Berlin Wall period. The findings show that while foreign aid does not have a significant effect on political... more

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    This study complements existing literature on the aid-institutions nexus by focusing on political rights, aid volatilities and the post-Berlin Wall period. The 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 the case when donors are asking for standards that majority of the population do not want and political leaders are unwilling to implement them. The empirical evidence is based on 53 African countries for the period 1996-2010. As a main policy implication, creating uncertainties in foreign aid for political rights enhancement in African countries may achieve the opposite results. Other implications are discussed including the need for an "After Washington consensus".

     
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    Format: Online
    Other identifier:
    hdl: 10419/149944
    Series: AGDI working paper ; WP/16/020
    Scope: 1 Online-Ressource (circa 35 Seiten)
  12. Mobile phone penetration, mobile banking and inclusive development in Africa
    Author: Asongu, Simplice A.; Nwachukwu, Jacinta C.
    Published: January 2016
    Publisher:  African Governance and Development Institute, [Yaoundé]

    The study assesses the role of mobile phones and mobile banking in decreasing inequality in 52 African countries. The empirical procedure involves first, examining the income-redistributive effect of mobile phone penetration and then investigating... more

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    The study assesses the role of mobile phones and mobile banking in decreasing inequality in 52 African countries. The empirical procedure involves first, examining the income-redistributive effect of mobile phone penetration and then investigating the contribution of mobile banking services in this relationship. The findings suggest an equalizing income-redistributive effect of "mobile phone penetration" and "mobile banking", with a higher income-equalizing effect from mobile banking compared to mobile phone penetration. Poverty alleviation channels explaining this difference in inequality mitigating propensity are discussed.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/149945
    Series: AGDI working paper ; WP/16/021
    Scope: 1 Online-Ressource (circa 25 Seiten)
  13. Reinventing foreign aid for inclusive and sustainable development
    a survey
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This survey essay reviews over 200 papers in arguing that in order to achieve sustainable and inclusive development, foreign aid should not orient developing countries towards industrialisation in the perspective of Kuznets but in the view of... more

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    This survey essay reviews over 200 papers in arguing that in order to achieve sustainable and inclusive development, foreign aid should not orient developing countries towards industrialisation in the perspective of Kuznets but in the view of Piketty. Abandoning the former's view that inequality will fall with progress in industrialisation and placing more emphasis on inequality in foreign aid policy will lead to more sustainable development outcomes. Inter alia: mitigate short-term poverty; address concerns of burgeoning population growth; train recipient governments on inclusive development; fight corruption and mismanagement and; avoid the shortfalls of celebrated Kuznets' conjectures. We discuss how the essay addresses post-2015 development challenges and provide foreign aid policy instruments with which discussed objectives can be achieved. In summary, the essay provides useful policy measures to avoid past pitfalls. 'Output may be growing, and yet the mass of the people may be becoming poorer' (Lewis, 1955). 'Lewis led all developing countries to water, proverbially speaking, some African countries have so far chosen not to drink' (Amavilah, 2014). Piketty (2014) has led all developing countries to the stream again and a challenging policy syndrome of our time is how foreign aid can help them to drink.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123648
    Series: AGDI working paper ; WP/14/033
    Scope: Online-Ressource (34 S.)
  14. Revolution empirics
    predicting the Arab Spring
    Author: Asongu, Simplice A.; Nwachukwu, Jacinta C.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The paper examines whether the Arab Spring phenomenon was predictable by complete elimination in the dispersion of core demands for better governance, more jobs and stable consumer prices. A methodological innovation of the Generalized Methods of... more

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    The paper examines whether the Arab Spring phenomenon was predictable by complete elimination in the dispersion of core demands for better governance, more jobs and stable consumer prices. A methodological innovation of the Generalized Methods of Moments is employed to assess the feasibility and timing of the revolution. The empirical evidence reveals that from a projection date of 2007, the Arab Spring was foreseeable between 2011 and 2012. The paper contributes at the same time to the empirics of predicting revolutions and the scarce literature on modeling the future of socio-economic events. Caveats and cautions are discussed.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123641
    Series: AGDI working paper ; WP/14/032
    Scope: Online-Ressource (36 S.)
  15. Institutions and poverty
    a critical comment based on evolving currents and debates
    Author: Asongu, Simplice A.; Kodila-Tedika, Oasis
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Tebaldi & Mohan (2010, JDS) have established an empirical nexus between institutions and monetary poverty. We first, reflect their findings in light of recent development models, debates and currents in post-2010 literature. We then re-examine their... more

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    Tebaldi & Mohan (2010, JDS) have established an empirical nexus between institutions and monetary poverty. We first, reflect their findings in 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 income-average as opposed to income-inequality. We discuss the confirmed findings in light of implications to: (1) debates over preferences in economic rights; (2) China's development/outlook; (3) the Chinese model versus sustainable development; (4) the Fosu conjectures; (5) Piketty's & Kuznets' celebrated literatures and (6) future research to ascertain the inequality mechanism.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123645
    Series: AGDI working paper ; WP/14/031
    Scope: Online-Ressource (21 S.), graph. Darst.
  16. Foreign aid, investment and fiscal policy behavior
    theory and empirical evidence
    Author: Asongu, Simplice A.; Jellal, Mohammed
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The paper provides theoretical and empirical justifications for the instrumentality of foreign aid in stimulating private investment and fixed capital formation through fiscal policy mechanisms. We propose an endogenous growth theory based on an... more

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    The paper provides theoretical and empirical justifications for the instrumentality of foreign aid in stimulating private investment and fixed capital formation through fiscal policy mechanisms. We propose an endogenous growth theory based on an extension of Barro (1990) by postulating that the positive effect of aid mitigates the burden of the taxation system on the private sector of recipient countries. The empirical validity is based on 53 African countries for the period 1996-2010. While the findings on the tax effort channel are overwhelmingly consistent with theory across specifications and fundamental characteristics, those of the government expenditure channel are a little heterogeneous but broadly in line with the theoretical postulations. Justification for the slight heterogeneity and policy implications are discussed.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123642
    Series: AGDI working paper ; WP/14/030
    Scope: Online-Ressource (37 S.)
  17. The role of lifelong learning in political stability and non-violence
    evidence from Africa
    Author: Asongu, Simplice A.; Nwachukwu, Jacinta C.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    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 21st... more

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    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 21st century development, this paper provides three contributions to existing literature. It assesses how political stability/ non-violence is linked to the incremental, synergy and lifelong learning effects of education. Design/methodology/approach - We 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 - We 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.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123636
    Series: AGDI working paper ; WP/14/029
    Scope: Online-Ressource (30 S.)
  18. A brief clarification to the questionable economics of foreign aid for inclusive human development
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The study clarifies the questionable economics of foreign aid for inclusive human development. It investigates the effect of a plethora of foreign aid dynamics on the inequality adjusted human development index. Contemporary and non-contemporary OLS,... more

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    The study clarifies the questionable economics of foreign aid for inclusive human development. It investigates the effect of a plethora of foreign aid dynamics on the inequality adjusted human development index. Contemporary and non-contemporary OLS, Fixed-effects and a system GMM technique with forward orthogonal deviations are employed. The empirical evidence is based on a sample of 53 African countries for the period 2005-2012. The following findings are established. First, the impacts of aid dynamics with high degrees of substitution are positive. These include, aid for: social infrastructure, economic infrastructure, the productive sector and the multi-sector. Second, the effect of humanitarian assistance is consistently negative across specifications and models. Third, the effects of programme assistance and action on debts are ambiguous because they become positive with the GMM technique. Justifications for these changes and clarifications with respect to existing literature are provided. Policy implications are discussed in light of Piketty's celebrated literature and the post-2015 development agenda. We also provide some recommendations for a rethinking of theories and models on which development assistance is based.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123634
    Series: AGDI working paper ; WP/14/028
    Scope: Online-Ressource (22 S.)
  19. The effects of remittances on output per worker in Sub-Saharan Africa
    a production function approach
    Author: Ssozi, John; Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper uses a production function to examine the channels through which remittances affect output per worker in 31 Sub-Saharan Africa (SSA) countries from 1980-2010. We find that remittances directly increase output per worker if complemented... more

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    This paper uses a production function to examine the channels through which remittances affect output per worker in 31 Sub-Saharan Africa (SSA) countries from 1980-2010. We find that remittances directly increase output per worker if complemented with education. The indirect effects vary with the economic characteristics of the recipient nations: while remittances have increased human capital among the low-income nations, among the upper-middle-income nations, they have mostly increased total factor productivity, but are still inversely related to factor inputs among the lower-middle-income nations of SSA. Finally, remittances are more effective when institutional risk is reducing.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123632
    Series: AGDI working paper ; WP/14/027
    Scope: Online-Ressource (33 S.), graph. Darst.
  20. Middle class in Africa
    determinants and consequences
    Author: Kodila-Tedika, Oasis; Asongu, Simplice A.; Kayembe, Julio Mukendi
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    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... more

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    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. OLS, 2SLS, 3SLS and SUR 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 have seen 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.

     
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123638
    Series: AGDI working paper ; WP/14/026
    Scope: Online-Ressource (31 S.), graph. Darst.
  21. Economic implications of business dynamics for KE-associated economic growth and inclusive development in African countries
    Author: Asongu, Simplice A.; Amavilah, Voxi Heinrich S.; Andrés, Antonio R.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper develops an empirically-relevant framework (a) to examine whether or not the African business environment hinders or promotes the knowledge economy (KE), (b) to determine how the KE which emerges from such an environment affects economic... more

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    This paper develops an empirically-relevant framework (a) to examine whether or not the African business environment hinders or promotes the knowledge economy (KE), (b) to determine how the KE which emerges from such an environment affects economic growth, and (c) how growth in turn relates to the 'inclusive development' of 53 African countries during the 1996-2010 time period. The framework provides a modest guide to policymaking about, and further research into, such relationships. We implement the framework by building a three-stage model and rationalizing it as five interrelated hypotheses. To allow greater concentration on the issues that are themselves already complex, our model is very simple, but clear. For example, we make neither an attempt to evaluate causality nor to test for it, even though we suspect the links to be multi-directional - opportunity costs are everywhere. Instead we focus on fundamental relationships between the dynamics of starting business and doing business as expressed in the state of KE, and through it to the inclusive development via the economic growth of those countries. Estimation results indicate that the dynamics of starting and doing business explain strongly a large part of variations in KE. The link between KE and economic growth exists, but it is weak, and we provide plausible reasons for such a result. Despite the weak association between KE and economic growth, KE-influenced growth plays a very important role in inclusive development. In fact, growth of this kind has stronger effects on inclusive development and by implication on poverty reduction, than some of conventional controls in this study such as FDI, foreign aid, and even private investment. There is clearly room for further research to improve the results, but just as clearly practical policy is best served by not neglecting the relationships examined in this paper.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123631
    Series: AGDI working paper ; WP/14/023
    Scope: Online-Ressource (45 S.), graph. Darst.
  22. Taxation, foreign aid and political governance
    figures to the facts of a celebrated literature
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper puts figures to the facts of Eubank (2012), a recently celebrated paper in the Journal of Development Studies. We investigate the underpinning Somaliland-based hypothesis that foreign aid dilutes the positive role of taxation on political... more

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    This paper puts figures to the facts of Eubank (2012), a recently celebrated paper in the Journal of Development Studies. We investigate the underpinning Somaliland-based hypothesis that foreign aid dilutes the positive role of taxation on political governance. The assessment is based on 53 African countries for the period 1996-2010. For more policy options, the dataset is disaggregated into fundamental characteristics of African development based on income-levels, legal origins, natural resources and landlockeness. While the Eubank hypothesis is invalid in baseline Africa, low-income and English common law countries of the continent, we cannot conclude on its validity for other fundamental characteristics of development. Policy implications, caveats and future directions are discussed.

     
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123639
    Series: AGDI working paper ; WP/14/022
    Scope: Online-Ressource (33 S.)
  23. May the soul of the IFS financial system definition RIP in developing countries
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    In this paper, we dissect with great acuteness contemporary insufficiencies of the IFS (2008) definition of the financial system and conclude from sound theoretical underpinnings and empirical justifications that the foundation, on which it is based,... more

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    In this paper, we dissect with great acuteness contemporary insufficiencies of the IFS (2008) definition of the financial system and conclude from sound theoretical underpinnings and empirical justifications that the foundation, on which it is based, while solid for developed countries, holds less ground in developing countries. Perhaps one of the deepest empirical hollows in the financial development literature has been the equation of financial depth in the perspective of money supply to liquid liabilities. This equation has put on the margin (and skewed) burgeoning phenomena of mobile banking, knowledge economy (KE), inequality…etc. We conclude that the informal financial sector, a previously missing component in the IFS conception and definition of the financial system can only be marginalized at the cost of misunderstanding recent burgeoning trends in mobile phone penetration, KE and poverty. Hence, the IFS definition has incontrovertibly fought its final dead battle and lost in the face of soaring trends highlighted above. Despite the plethora of econometric and policy-making sins the definition has committed in developing countries through bias estimates and misleading inferences, may its soul RIP.

     
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123635
    Series: AGDI working paper ; WP/14/021
    Scope: Online-Ressource (24 S.)
  24. The questionable economics of development assistance in Africa
    hot-fresh evidence, 1996 - 2010
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    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... more

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    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.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123637
    Series: AGDI working paper ; WP/14/020
    Scope: Online-Ressource (43 S.), graph. Darst.
  25. Real effective exchange rate imbalances and macroeconomic adjustments
    evidence from the CEMAC zone
    Author: Asongu, Simplice A.
    Published: 2014
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    We assess the behavior of real effective exchange rates (REERs) of members of the CEMAC zone with respect to their long-term equilibrium paths. A reduced form of the fundamental equilibrium exchange rate (FEER) model is estimated and associated... more

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    We assess the behavior of real effective exchange rates (REERs) of members of the CEMAC zone with respect to their long-term equilibrium paths. A reduced form of the fundamental equilibrium exchange rate (FEER) model is estimated and associated misalignments are derived for the period 1980 to 2009. Our findings suggest that for majority of countries, macroeconomic fundamentals have the expected associations with the exchange rate fluctuations. The analysis also reveals that, only the REER adjustments of Cameroon and Gabon are significant in restoring the long-term equilibrium in event of a shock. The Cameroonian economic fundamentals of terms of trade, government expenditure and openness have different long-term relations with the REER in comparison to those of other member states. Ultimately, there is no need for an adjustment in the level of the peg based on the present quantitative analysis of REER paths.

     
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    Media type: Book
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    Other identifier:
    hdl: 10419/123623
    Series: AGDI working paper ; WP/14/019
    Scope: Online-Ressource (15 S.)