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Displaying results 1 to 25 of 39.

  1. The impact of liberalisation policies on inequality in Africa
    Author: Asongu, Simplice A.; Batuo, Michael Enowbi
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Despite over three decades of Liberalisation policies in Africa, income-inequality has stayed persistently high. Using updated panel data of 26 African countries spanning the period 1996-2010, this study examines the effect of liberalisation policies... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Despite over three decades of Liberalisation policies in Africa, income-inequality has stayed persistently high. Using updated panel data of 26 African countries spanning the period 1996-2010, this study examines the effect of liberalisation policies with particular focus on financial, trade, institutional, political and economic liberalisations on income-inequality. We find: that financial liberalisation has a levitated income-redistributive effect with the magnitude of the de jure measure (KAOPEN) higher than that of the de facto measure (FDI); that exports, trade and 'freedom to trade' have an equality incidence on income-distribution; and that institutional and political liberalisation has a negative impact. We also find that, economic freedom has a negative income-redistributive effect possibly because of the weight of its legal component. The impact of these policies implications are discussed in detail in this study.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123568
    Series: AGDI working paper ; WP/12/038
    Scope: Online-Ressource (38 S.), graph. Darst.
  2. The impact of health worker migration on development dynamics
    evidence of wealth-effects from Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper examines three relevant hypotheses on the incidence of health worker migration on human development and economic prosperity (at macro and micro levels) in Africa. Owing to lack of relevant data on Health Human Resource (HHR) migration for... more

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    This paper examines three relevant hypotheses on the incidence of health worker migration on human development and economic prosperity (at macro and micro levels) in Africa. Owing to lack of relevant data on Health Human Resource (HHR) migration for the continent, the subject matter has remained empirically void over the last decades despite the acute concern of health professional emigration. Using quantile regression, the following findings have been established. (1) The effect of HHR emigration is positive (negative) at low (high) levels of economic growth. (2) HHR emigration improves (mitigates) human development (GDP per capita growth) in low (high) quantiles of the distribution. (3) Specific differences in effects are found in top quantiles of human development and low quantiles of GDP per capita growth where, the physician (nurse) emigration elasticities of development are positive (negative) and negative (positive) respectively. As a policy implication, blanked health-worker emigration control policies are unlikely to succeed across countries with different levels of human development and economic prosperity. Hence, the policies should be contingent on the prevailing levels of development and tailored differently across the most and least developed African countries.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123571
    Series: AGDI working paper ; WP/12/037
    Scope: Online-Ressource (32 S.)
  3. The role of human development on deforestation in Africa
    a modelling-based approach
    Author: Asongu, Simplice A.; Jingwa, Brian A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The rate of deforestation in Africa is of paramount concern not only to the future of Africa, but also to the world. This study uses country-level data to model changes in forest area over an 18 year period (1990-2007) in 35 African countries and... more

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    The rate of deforestation in Africa is of paramount concern not only to the future of Africa, but also to the world. This study uses country-level data to model changes in forest area over an 18 year period (1990-2007) in 35 African countries and investigates the role played by important development indicators of human development. The results reveal that the net loss of forests was 0.19% every year between 1990 and 2007. This implies a total of 3.42% of forest was lost in the 18 year period. This is more in line with estimates obtained by the Food and Agricultural Organization (0.56% between1990-2000 and 0.49% between 2000-2010). Human development which involves life expectancy, education and income is found to have a positive effect on forest growth and conservation, while cutting down trees for wood fuel is a significant cause of deforestation. Using generalized linear mixed models and generalised estimating equations, we were able to calculate expected estimates of forest area for 2010, 2020 and 2030 under the assumption that nothing is done to change observed trends. In many countries, progress has been made in reforestation, forest protection and conservation. However, if indiscriminate cutting down of trees is not checked, many countries will lose most or all of their forests by 2030.

     
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    Language: English
    Media type: Book
    Format: Online
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    hdl: 10419/123570
    Series: AGDI working paper ; WP/12/036
    Scope: Online-Ressource (23 S.), graph. Darst., Kt.
  4. Software piracy, inequality and the poor
    evidence from Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - Poverty and inequality undoubtedly remain substantial challenges to economic and human developments amid growing emphasis on IPRs (with recent advances in ICTs) and good governance. In the first empirical study on the incidence of piracy on... more

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    Purpose - Poverty and inequality undoubtedly remain substantial challenges to economic and human developments amid growing emphasis on IPRs (with recent advances in ICTs) and good governance. In the first empirical study on the incidence of piracy on inequality in Africa, we examine how a plethora of factors (IPRs laws, education & ICTs and government quality) are instrumental in the piracy-inequality nexus. Design/methodology/approach - Two-Stage-Least Squares estimation approaches are applied in which piracy is instrumented with IPRs regimes (treaties), education & ICTs and government quality dynamics. Findings - The main finding suggests that, software piracy is good for the poor as it has a positive income-redistributive effect; consistent with economic and cultural considerations from recent literature. ICTs & education (dissemination of knowledge) are instrumental in this positive redistributive effect, while good governance mitigates inequality beyond the piracy channel. Practical implications - As a policy implication, in the adoption IPRs, sampled countries should take account of the role less stringent IPRs regimes play on income-redistribution through software piracy. Collateral benefits include among others, the cheap dissemination of knowledge through ICTs which African countries badly need in their quest to become 'knowledge economies'. A caveat however is that, too much piracy may decrease incentives to innovate. Hence, the need to adopt tighter IPRs regimes in tandem with increasing income-equality. Originality/value - It is the first empirical assessment of the incidence of piracy on inequality in Africa: a continent with stubbornly high poverty and inequality rates.

     
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    hdl: 10419/123574
    Series: AGDI working paper ; WP/12/035
    Scope: Online-Ressource (35 S.)
  5. Reversed economics and inhumanity of development assistance in Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - The purpose of this paper is to assess the aid-development nexus in 52 African countries using updated data (1996-2010) and a new indicator of human development(adjusted for inequality). Design/methodology/approach - The estimation... more

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    DS 524 (12,34)
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    Purpose - The purpose of this paper is to assess the aid-development nexus in 52 African countries using updated data (1996-2010) and a new indicator of human development(adjusted for inequality). Design/methodology/approach - The estimation technique used is a Two-Stage-Least Squares Instrumental Variable approach. Instruments include: income-levels, legal-origins and religious-dominations. The first-step consists of justifying the choice of the estimation technique with a Hausman-test for endogeneity. In the second-step, we verify that the instrumental variables are exogenous to the endogenous components of explaining variables(aid dynamic channels) conditional on other covariates(control variables). In the third-step, the strength and validity of the instruments are examined with the Cragg-Donald and Sargan overidentifying restrictions tests respectively. Robustness checks are ensured by: (1) the use of alternative aid indicators; (2) estimation under restricted and unrestricted hypotheses ; and (3) adoption of two interchangeable sets of instruments. Findings - The findings broadly indicate that development assistance is detrimental to GDP growth, GDP per capita growth and inequality adjusted human development. 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. Social implications - 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. Originality/value - These findings are based on data collected after pioneering works on the aid-development nexus. Usage of the inequality adjusted human development index first published in 2010, corrects past works of the bunch of criticisms inherent in the first index.

     
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    Format: Online
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    hdl: 10419/123567
    Series: AGDI working paper ; WP/12/034
    Scope: Online-Ressource (32 S.)
  6. Real and monetary policy convergence
    EMU crisis to the CFA Zone
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - A major lesson of the EMU crisis is that serious disequilibria result from regional monetary arrangements not designed to be robust to a variety of shocks. The purpose of this paper is to assess these disequilibria within the CEMAC, UEMOA... more

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    DS 524 (12,33)
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    Purpose - A major lesson of the EMU crisis is that serious disequilibria result from regional monetary arrangements not designed to be robust to a variety of shocks. The purpose of this paper is to assess these disequilibria within the CEMAC, UEMOA and CFA zones. Design/methodology/approach - In the assessments, monetary policy targets inflation and financial dynamics of depth, efficiency, activity and size while real sector policy targets economic performance in terms of GDP growth. We also provide the speed of convergence and time required to achieve a 100% convergence. Findings - But for financial intermediary size within the CFA zone, findings for the most part support only unconditional convergence. There is no form of convergence within the CEMAC zone. Practical implications - The broad insignificance of conditional convergence results have substantial policy implications. Monetary and real policies which are often homogenous for member states are thwarted by heterogeneous structural and institutional characteristics which give rise to different levels and patterns of financial intermediary development. Therefore member states should work towards harmonizing cross-country differences in structural and institutional characteristics that hamper the effectiveness of monetary policies. Originality/value - The paper provides warning signs to the CFA zone in the heat of the Euro zone crises.

     
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    hdl: 10419/123572
    Series: AGDI working paper ; WP/12/033
    Scope: Online-Ressource (25 S.)
  7. Politics and consumer prices in Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The motivations of the Arab Spring that have marked the history of humanity over the last few months have left political economists, researchers, governments and international policymakers pondering over how the quality of political institutions... more

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    The motivations of the Arab Spring that have marked the history of humanity over the last few months have left political economists, researchers, governments and international policymakers pondering over how the quality of political institutions affect consumer welfare in terms of commodity prices. This paper investigates the effects of political establishments on consumer prices in the African continent. Findings suggest that in comparison with authoritarian regimes, democracies better provide for institutions that keep inflationary pressures on commodity prices in check. As a policy implication, improving the quality of democratic institutions will ameliorate consumer welfare through lower inflation rates. Such government quality institutional determinants include, among others: voice and accountability, rule of law, regulation quality, control of corruption and press freedom.

     
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    Language: English
    Media type: Book
    Format: Online
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    hdl: 10419/123575
    Series: AGDI working paper ; WP/12/032
    Scope: Online-Ressource (8 S.)
  8. On the effect of foreign aid on corruption
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The Okada & Samreth(2012, EL) finding that aid deters corruption could have an important influence on policy and academic debates. This paper partially negates their criticism of the mainstream approach to the aid-development nexus. Using updated... more

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    The Okada & Samreth(2012, EL) finding that aid deters corruption could have an important influence on policy and academic debates. This paper partially negates their criticism of the mainstream approach to the aid-development nexus. Using updated data(1996-2010) from 52 African countries we provide robust evidence of a positive aid-corruption nexus. Development assistance fuels(mitigates) corruption(the control of corruption) in the African continent. As a policy implication, the Okada & Samreth(2012, EL) finding for developing countries may not be relevant for Africa.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123569
    Series: AGDI working paper ; WP/12/031
    Scope: Online-Ressource (9 S.)
  9. New indicators for the mobile banking nexus
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose: We make available new critical macroeconomic financial indicators to the research community. Nothing is more powerful than a phenomenon whose time has come. What is the macroeconomic empirical context of growing mobile banking? Perhaps one... more

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    Purpose: We make available new critical macroeconomic financial indicators to the research community. Nothing is more powerful than a phenomenon whose time has come. What is the macroeconomic empirical context of growing mobile banking? 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, a burgeoning phenomenon whose time has come: mobile banking. Design/Methodology: We decompose financial depth into formal, semi-formal and informal sectors and then assess the incidence of mobile banking on each constituent. Thus the IFS (2008) definition of the financial system is extended to incorporate an informal financial sector in line with Asongu(2011). Three hypotheses based on eight propositions are tested using a plethora of endogeneity-robust and HAC standard errors estimation techniques. Findings: The informal financial sector (a previously missing component in the definition of money supply: M2) is positively affected by mobile banking, while the incidence of mobile banking is negative on formal and semi-formal financial intermediary development. The paper contributes at the same time to the macroeconomic literature on measuring financial development and responds to the growing field of economic development by means of informal financial sector promotion, microfinance and mobile banking. It suggests a practicable way to disentangle the effects of mobile banking on various financial sectors. Research implications: Since empirical research on the phenomenon has been hampered by lack of data, we make available macroeconomic financial indicators to the research community. The present paper is also in response to the numerous calls on the research gap in the literature that emphasize the need for research on mobile banking. The mobile-finance nexus is gaining momentum, yet relatively little scholarly research explores the incidence of these m-banking/m-payment (systems) on financial development. Practical implications: (1) There is a burgeoning role of informal finance in developing countries. (2) The incidence of the growing phenomenon of mobile banking cannot be effectively assessed at a macroeconomic level by traditional financial development indicators. (3) It is a wake-up call for scholarly research on informal financial intermediary development indicators which will guide monetary policy; since a great chunk of the monetary base (M0) in less developed countries is now captured by mobile banking. Originality/value: New financial indicators for mobile banking assessment based on insufficiencies in the financial development literature: liquid liabilities as applied to developing countries is misleading because a great chunk of the monetary base does not transit through the banking system but via informal networks like the growing phenomenon of mobile banking.

     
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    hdl: 10419/123573
    Series: AGDI working paper ; WP/12/030
    Scope: Online-Ressource (47 S.)
  10. Linkages between investment flows and financial development
    causality evidence from selected African countries
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - This paper introduces previously missing financial components(efficiency, activity and size) in the assessment of the finance-investment nexus. Design/methodology/approach - VAR models in the perspectives of VECM and short-run Granger... more

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    DS 524 (12,29)
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    Purpose - This paper introduces previously missing financial components(efficiency, activity and size) in the assessment of the finance-investment nexus. Design/methodology/approach - VAR models in the perspectives of VECM and short-run Granger causality are employed. Usage of optimally specified econometric methods in contradiction to purely discretionary model specifications in mainstream literature. Findings - Three main findings are established: (1) while finance led investment elasticities are positive, investment elasticities of finance are negative; (2)but for Guinea Bissau, Mozambique and Togo, finance does not seem to engender portfolio investment; (3)contrary to mainstream literature, financial efficiency appears to impact investment more than financial depth. Practical implications - Four policy implications result: (1)extreme caution is needed in the use of single equation analysis for economic forecasts; (2)financial development leads more to investment flows than the other way round; (3) financial allocation efficiency is more relevant as means to attracting investment flows than financial depth; (4) the somewhat heterogeneous character of the findings also point to shortcomings in blanket policies that are not contingent on country-specific trends in the finance-investment nexus. Originality/value - (1) Contrary to the mainstream approach we use four measures of financial intermediary development(depth, efficiency, activity and size) as well as four types of investment flows(domestic, foreign, portfolio and total). (2) The chosen investment and financial indicators are derived upon preliminary correlation analysis from the broadest macroeconomic dataset available on investment and financial intermediary flows.

     
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    hdl: 10419/123561
    Series: AGDI working paper ; WP/12/029
    Scope: Online-Ressource (31 S.)
  11. Institutional benchmarking of foreign aid effectiveness in Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This paper integrates two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign aid on institutional development in 53 African countries over the period 1996-2010. Eight... more

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    This paper integrates two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign aid on institutional development in 53 African countries over the period 1996-2010. Eight government quality indicators are employed: rule of law, regulation quality, government effectiveness, corruption, voice & accountability, control of corruption, political stability and democracy. Three hypotheses are tested and the following findings are established: (1) Institutional benefits of foreign-aid are contingent on existing institutional levels in Africa. (2) But for a thin exception (democracy), foreign-aid is more negatively correlated with countries of higher institutional quality than with those of lower quality. (3) The institutional benefits of foreign-aid are not questionable until greater domestic institutional development has taken place. The reverse is true instead. Government quality benefits of development assistance are questionable in African countries irrespective of prevailing institutional quality levels.

     
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    hdl: 10419/123566
    Series: AGDI working paper ; WP/12/028
    Scope: Online-Ressource (28 S.)
  12. How has mobile banking stimulated financial development in Africa?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    In the first empirical assessment of the incidence of mobile banking on financial intermediary development in Africa, we use two definitions of the financial system: the traditional IFS (2008) and Asongu (2011) measures of financial sector... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 524 (12,27)
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    In the first empirical assessment of the incidence of mobile banking on financial intermediary development in Africa, we use two definitions of the financial system: the traditional IFS (2008) and Asongu (2011) measures of financial sector importance. When the conception of a financial system is based only on banks and other financial institution (IFS, 2008), mobile banking has a negative incidence on traditional financial intermediary dynamics of depth, activity and size. However, when a previously missing informal-financial sector component is integrated into the definition (Asongu, 2011), mobile-banking has a positive incidence on informal financial intermediary development. Three major implications result from the findings. (1) There is a growing role of informal finance in developing countries. (2) The incidence of the burgeoning phenomenon of mobile-banking cannot be effectively assessed at a macroeconomic level by traditional financial development indicators. (3) It is a wake-up call for scholarly research on informal financial intermediary development indicators which will oriented monetary policy; since a great chunk of the monetary base(M0) in less developed countries is now captured by mobile-banking.

     
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    hdl: 10419/123558
    Series: AGDI working paper ; WP/12/027
    Scope: Online-Ressource (34 S.)
  13. How has mobile phone penetration stimulated financial development in Africa?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    In the first macroeconomic empirical assessment of the relationship between mobile phones and finance, this paper examines the correlations between mobile phone penetration and financial development using two conflicting definitions of the financial... more

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    In the first macroeconomic empirical assessment of the relationship between mobile phones and finance, this paper examines the correlations between mobile phone penetration and financial development using two conflicting definitions of the financial system in the financial development literature. With the traditional IFS (2008) definition, mobile phone penetration has a negative correlation with traditional financial intermediary dynamics of depth, activity and size. However, when a previously missing informal-financial sector component is integrated into the definition, mobile phone penetration has a positive correlation with informal financial development. Three implications result: there is a growing role of informal finance; mobile phone penetration may not be positively assessed at a macroeconomic level by traditional financial development indicators and; it is a wake-up call for scholarly research on informal financial development indicators which will oriented monetary policy.

     
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    hdl: 10419/123564
    Series: AGDI working paper ; WP/12/026
    Scope: Online-Ressource (27 S.)
  14. Harmonizing IPRs on software piracy
    empirics of trajectories in Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    In the current efforts of harmonizing the standards and enforcement of IPRs protection worldwide, this paper explores software piracy trajectories and dynamics in Africa. Using a battery of estimation techniques that ignore as well as integrate... more

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    In the current efforts of harmonizing the standards and enforcement of IPRs protection worldwide, this paper explores software piracy trajectories and dynamics in Africa. Using a battery of estimation techniques that ignore as well as integrate short-run disturbances in time-dynamic fashion, we answer the big questions policy makers are most likely to ask before harmonizing IPRs regimes in the battle against software piracy. Three main findings are established. (1) African countries with low software piracy rates are catching-up their counterparts with higher rates; implying despite existing divergent IPRs systems, convergence in piracy rate could be a genuine standard-setting platform. (2) Legal origins do not play a very significant role in the convergence process. (3) A genuine timeframe for standardizing IPRs laws in the fight against piracy is most likely between a horizon of 4 to 8 years. In other words, full (100%) convergence within the specified horizon will mean the enforcements of IPRs regimes without distinction of nationality and locality. Policy implications and caveats are discussed.

     
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    hdl: 10419/123559
    Series: AGDI working paper ; WP/12/025
    Scope: Online-Ressource (34 S.)
  15. Globalization, (fighting) corruption and development
    how are these phenomena linearly and nonlinearly related in wealth effects?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? This paper assesses the Lalountas et al. (2011) hypotheses (conclusions) in the African... more

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    Purpose - Is globalization instrumental in fighting corruption? Do wealth effects matter in this fight? Are findings valid when linearity assumptions are dropped? This paper assesses the Lalountas et al. (2011) hypotheses (conclusions) in the African context. Design/methodology/approach - Though not in form, yet in substance the intuition and motivation are compatible with those of Lalountas et al. (2011). Four hypotheses are tested from different methodological and contextual standpoints. In the analysis, while the economic and social dimensions of globalization are reflected in the HDI, the political dimension is captured by good governance indicators. A TSLS-IV estimation technique is applied where-in globalization instruments of trade and financial liberalization are instrumented on human-development and government-quality to account for corruption (corruption-control) effects. Thus the intuition is assessing how globalization is instrumental in the fight against corruption through human development (economic and social dimensions) and government quality (political dimension). Findings - Hypothesis 1: Globalization is a powerful tool in fighting corruption (True). Hypothesis 2: Globalization is an important tool in fighting corruption only in Middle and High income countries (Partially True). Hypothesis 3: For Low income countries globalization has no significant impact on corruption (True). Hypothesis 4: Hypotheses 1 and 2 are valid only under linearity (False). Social Implications - In countries with high levels of per capita, emphasis is placed on the political and social dimensions of globalization and as a result the effects of this phenomenon on corruption-control are significant. Conversely, in nations with low levels of per capita income, emphasis is given to the economic dimension of international integration and as a result the effect of globalization on corruption is limited. As a policy implication, persistent globalization as an effective means to reduce corruption in developing countries might lead to inappropriate policies in low income countries. Originality/value - This paper has tested the Lalountas et al. (2011) hypotheses in the continent where concerns of globalization, human development and corruption are most acute.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123557
    Series: AGDI working paper ; WP/12/024
    Scope: Online-Ressource (32 S.)
  16. Globalization and health worker crisis
    what do wealth-effects tell us?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Owing to lack of relevant data on health human resource (HHR) migration, the empirical dimension of the health-worker crisis debate has remained void despite abundant theoretical literature. A health worker crisis is overwhelming the world. Shortages... more

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    Owing to lack of relevant data on health human resource (HHR) migration, the empirical dimension of the health-worker crisis debate has remained void despite abundant theoretical literature. A health worker crisis is overwhelming the world. Shortages in health professionals are reaching staggering levels in many parts of the globe. This paper complements existing literature by empirically investigating the WHO hypothetical determinants of health-worker migration in the context of globalization when income-levels matter. In plainer terms, the work explores how the wealth of exporting countries play-out in the determinants of HHR emigration. We assess the determinants of emigration in the health sector through-out the conditional distribution of health human resource emigration. Findings provide very targeted policy implications based on income-levels and existing emigration levels for both physician and nurse worker crises. Beside specific policy recommendations, we also outlined broad policy measures for source-countries, recipient-states and regional (international) institutions.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123560
    Series: AGDI working paper ; WP/12/023
    Scope: Online-Ressource (37 S.)
  17. Globalization and Africa
    implications for human development Simplice
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - The purpose of this paper is to assess the effects of trade and financial globalization on human development in 52 African countries using updated data (1996-2010) and a new indicator of human development (adjusted for inequality).... more

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    Purpose - The purpose of this paper is to assess the effects of trade and financial globalization on human development in 52 African countries using updated data (1996-2010) and a new indicator of human development (adjusted for inequality). Design/methodology/approach - The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology. Instruments include: income-levels, legal-origins and religious-dominations. The first-step consists of justifying the choice of the estimation technique with a Hausman-test for endogeneity. In the second-step, we verify that the instrumental variables are exogenous to the endogenous components of explaining variables (globalization dynamic channels) conditional on other covariates (control variables). In the third-step, the strength and validity of the instruments are assessed with the Cragg-Donald and Sargan overidentifying restrictions tests respectively. Robustness checks are ensured by: (1) use of alternative globalization indicators; (2) endogeneity based estimation; (3) adoption of two interchangeable sets of instruments; (4) estimation with a technique that controls for time-invariant unobservable shocks that affect openness and human development simultaneously. Findings - Findings broadly indicate that while trade globalization improves human development (consistent with the neoliberal theory), financial globalization has the opposite effect (in line with the hegemony thesis). The 'life expectancy' component of the HDI weighs most in the positive impact of trade globalization on human emancipation. Practical implications - Capital accounts should be opened in tandem with financial and institutional development. The investment atmosphere needs improvement to curtail capital flight (about 39%). Other policy implications include: adoption of openness options in a selective and gradual manner, development of some industrial backbone for an import-substitution or export-led industry, emphasis on regional trade and building capacity, development of the agricultural sector with continuous government assistance, building of rural infrastructure, increasing adult literacy rate and developing human resources, fighting corruption and mitigating wastages in government expenditure. Originality/value - These findings are based on very recent data. Usage of the inequality adjusted human development index first published in 2010, corrects past works of the bulk of criticisms inherent in the first index.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123563
    Series: AGDI working paper ; WP/12/022
    Scope: Online-Ressource (36 S.)
  18. Financial sector competition and knowledge economy
    evidence from SSA and MENA countries
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    The goal of this paper is to assess how financial sector competition plays-out in the development of knowledge economy (KE). It contributes at the same time to the macroeconomic literature on measuring financial development and response to the... more

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    The goal of this paper is to assess how financial sector competition plays-out in the development of knowledge economy (KE). It contributes at the same time to the macroeconomic literature on measuring financial development and response to the growing field of KE by means of informal sector promotion, micro finance and mobile banking. It suggests a practicable way to disentangle the effects of various financial sectors on different components of KE. The variables identified under the World Bank's four knowledge economy index (KEI) are employed. Three hypotheses based on seven propositions are tested. Results show: (1) the informal financial sector, a previously missing component in the definition of the financial system by the IMF significantly affects KE dimensions; (2) disentangling different components of the existing measurement of the financial system improves dynamics in the KE-finance nexus and; (3) introduction of measures of sector importance provides relevant new insights into how financial sector competition affects KE.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123565
    Series: AGDI working paper ; WP/12/021
    Scope: Online-Ressource (37 S.)
  19. Financial development dynamic thresholds of financial globalization
    evidence from Africa
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Purpose - The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give policymakers guidance on the Kose et al. (2011) and Henry (2007) hypothesis. Its object is to assess if financial benefits of financial globalization are questionable until greater domestic financial development has taken place in African countries. Design/methodology/approach - In framing the financial dimension in a more concrete and tractable manner, we examine the concerns of how domestic financial initial dynamics of depth (economic and financial systems), efficiency (banking and financial systems), activity (banking and financial systems) and size, play out in the financial development benefits of financial globalization. The estimation approach consists of assessing the impact of financial globalization through-out the conditional distributions of domestic financial development dynamics. Findings - The introduction of previously missing financial dimensions into the debate generates a number of important findings. Only financial initial (threshold) conditions of size are necessary to materialize the benefits of financial globalization. While financial depth only partially validates the hypothesis, dynamics of efficiency and activity (credit) do not confirm the hypothesis. Practical implications - Addressing the issue of surplus liquidity in African financial institutions could improve the benefits of financial size and potentially reverse the trends of financial efficiency and activity. Depending on the context of sampled countries, the appropriate role of policy has always been either to stem the tide of capital flows or encourage them. Policymakers who have been viewing their challenges exclusively from the latter perspective for benefits in growth (finance) might be getting the financial dynamics badly wrong. Originality/value - Blanket financial development policies may not reap the financial benefits of financial globalization until domestic financial dynamics of depth, efficiency, activity and size are critically considered. The introduction of the last three previously missing components in the literature sheds more light on the globalization-development nexus.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123562
    Series: AGDI working paper ; WP/12/020
    Scope: Online-Ressource (36 S.)
  20. Financial determinants of consumer price inflation
    what do dynamics in money, credit, efficiency and size tell us?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Purpose - The purpose of this paper is to examine the effects of financial dynamic policy options in money, credit, efficiency and size on consumer prices. Soaring food prices have marked the geopolitical landscape of developing countries in the past... more

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    Purpose - The purpose of this paper is to examine the effects of financial dynamic policy options in money, credit, efficiency and size on consumer prices. Soaring food prices have marked the geopolitical landscape of developing countries in the past few years. Design/methodology/approach - The estimation approach used is a Two-Stage-Least Squares Instrumental Variable technique. Instruments include: legal-origins; income-levels and religious-dominations. The first-step consists of justifying the choice of the estimation approach with a Hausman-test for endogeneity. In the second-step, we verify that the instrumental variables are exogenous to the endogenous components of explaining variables(financial dynamic channels) conditional on other covariates(control variables). In the third-step, the validity of the instruments is examined with the Sargan overidentifying restrictions test. Robustness checks are ensured by: (1) use of alternative indicators of each financial dynamic; (2) estimation with robust Heteroscedasticity and Autocorrelation Consistent (HAC) standard errors; and (3) adoption of two interchangeable sets of instruments. Findings - Findings broadly reveal the following: (1) money(depth) and credit(activity) which are in absolute measures have positive elasticities of inflation; while (2) financial efficiency and size in relative measures have negative elasticities of inflation. Social implications - This paper helps in providing monetary policy options in the fight against soaring consumer prices. By keeping inflationary pressures on food prices in check, sustained campaigns involving strikes, demonstrations, marches, rallies and political crises that seriously disrupt economic performance could be mitigated. Originality/value - As far as we have perused, there is yet no study that assesses monetary policy options that could be relevant in addressing the dramatic surge in the price of consumer commodities.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123554
    Series: AGDI working paper ; WP/12/019
    Scope: Online-Ressource (25 S.)
  21. Fighting software piracy
    which IPRs laws (treaties) matter in Africa?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    With the proliferation of technology used to prate software, this paper answers some key questions in policy decision making. Dynamic panel Generalized Methods of Moments and Two Stage Least Squares are employed. IPRs laws (treaties) are instrumented... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 524 (12,18)
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    With the proliferation of technology used to prate software, this paper answers some key questions in policy decision making. Dynamic panel Generalized Methods of Moments and Two Stage Least Squares are employed. IPRs laws (treaties) are instrumented with government quality dynamics to assess their incidence on software piracy. The following findings are established. (1) Government institutions are crucial in enforcing IPRs laws (treaties) in the fight against software piracy. (2) Main IP laws enacted by the legislature and Multilateral IP laws are most effective in combating piracy. (3) IPRs laws, WIPO Treaties and Bilateral Treaties do not have significant negative incidences on software piracy. Policy implications are discussed.

     
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    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123551
    Series: AGDI working paper ; WP/12/018
    Scope: Online-Ressource (30 S.)
  22. Fighting software piracy
    which governance tools matter in Africa?
    Author: Asongu, Simplice A.; Andrés, Antonio R.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    This article integrates previously missing components of government quality into the governance-piracy nexus in exploring governance mechanisms by which global obligations for the treatment of IPRs are effectively transmitted from international to... more

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    This article integrates previously missing components of government quality into the governance-piracy nexus in exploring governance mechanisms by which global obligations for the treatment of IPRs are effectively transmitted from international to the national level in the battle against piracy. It assesses the best governance tools in the fight against piracy and upholding of Intellectual Property Rights (IPRs). The instrumentality of IPR laws (treaties) in tackling piracy through good governance mechanisms is also examined. Findings demonstrate that: (1) while all governance tools under consideration significantly decrease the incidence of piracy, corruption-control is the most effective weapon; (2) but for voice and accountability, political stability and democracy, IPR laws (treaties) are instrumental in tackling piracy through government quality dynamics of rule of law, regulation quality, government effectiveness, corruption-control, and press freedom. Hence, the need for a policy approach most conducive to expanding development is to implement an integrated system of both IPRs and corollary good governance policies. Moreover, our findings support the relevance of good governance measures in developing countries wishing to complement their emerging IPR regimes.

     
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    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123556
    Series: AGDI working paper ; WP/12/017
    Scope: Online-Ressource (36 S.)
  23. Fighting software piracy in Africa
    how do legal origins and IPRs protection channels matter?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    In the current efforts towards harmonizing IPRs regimes in the African continent, this paper provides answers to four key questions relevant in the policy decision making processes. After empirically examining the questions, the following findings... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    In the current efforts towards harmonizing IPRs regimes in the African continent, this paper provides answers to four key questions relevant in the policy decision making processes. After empirically examining the questions, the following findings are established. (1) In comparison to common law countries, civil law countries inherently have a significant autonomous rate of software piracy; consistent with the 'law and property rights' theory. (2) But for IPRs laws, the other IP protection channels (WIPO treaties, Main IP law and multilateral treaties) reduce the incidence of software piracy. (3) In both short-run and long-term, IPRs protection channels in civil law countries appear to mitigate software piracy more than in common law countries. (4) Formal institutions are instrumental in the fight against software piracy through IPRs protection channels.

     
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    Format: Online
    Other identifier:
    hdl: 10419/123555
    Series: AGDI working paper ; WP/12/016
    Scope: Online-Ressource (33 S.)
  24. Fighting corruption with cultural dynamics
    when legal-origins, religiousinfluences and existing corruption-control levels matter
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Are there different determinants in the fight against corruption across developing countries? Why are some countries more effective at battling corruption than others? To investigate these concerns we examine the determinants of corruption-control... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 524 (12,15)
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    Are there different determinants in the fight against corruption across developing countries? Why are some countries more effective at battling corruption than others? To investigate these concerns we examine the determinants of corruption-control throughout the conditional distribution of the fight against corruption using panel data from 46 African countries for the period 2002-2010. Our findings demonstrate that blanket corruption-control policies are unlikely to succeed equally across countries with different legal-traditions, religious-influences and political wills in the fight against corruption. Thus to be effective, corruption policies should be contingent on the prevailing levels of corruption-control and tailored differently across the best and worst corruption-fighting countries especially with respect to democracy, population growth and economic prosperity.

     
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    Other identifier:
    hdl: 10419/123548
    Series: AGDI working paper ; WP/12/015
    Scope: Online-Ressource (11 S.)
  25. Fighting corruption when existing corruption-control levels count
    what do wealth-effects tell us in Africa?
    Author: Asongu, Simplice A.
    Published: 2012
    Publisher:  African Governance and Development Institute (AGDI), [Yaoundé]

    Why are some nations more effective at battling corruption than others? Are there different determinants in the fight against corruption across developing nations? How do wealth effects play-out when existing corruption-control levels matter in the... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 524 (12,14)
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    Why are some nations more effective at battling corruption than others? Are there different determinants in the fight against corruption across developing nations? How do wealth effects play-out when existing corruption-control levels matter in the corruption battle? To investigate these concerns we examine the determinants of corruption-control throughout the conditional distribution of the fight against corruption. The following broad findings are established. (1) Population growth is a (an) tool (impediment) in (to) the fight against corruption in Low (Middle) income countries. (2) Democracy increases (decreases) corruption-control in Middle (Low) income countries. As a policy implication, blanket corruption-control strategies are unlikely to succeed equally across countries with different income-levels and political wills in the fight against corruption. Thus to be effective, corruption policies should be contingent on the prevailing levels of corruption-control and income-bracket.

     
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    Other identifier:
    hdl: 10419/123553
    Series: AGDI working paper ; WP/12/014
    Scope: Online-Ressource (31 S.)