28 results on '"Tchamyou, Vanessa S."'
Search Results
2. The Macroeconomic Influence of Recent Political Conflicts in Africa: Generalized Synthetic Counterfactual Evidence.
- Author
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Diop, Samba, Asongu, Simplice A., and Tchamyou, Vanessa S.
- Subjects
COUNTERFACTUALS (Logic) ,NATURAL resources ,PRICE levels ,ECONOMIC expansion - Abstract
This paper measures the macroeconomic influence of recent political crisis, protest and uprisings in Africa with the generalized synthetic control method and evaluates the role played by natural resource dependence on the modulation of the nexus. We find that political crisis, protests and uprisings have a significant and negative nexus with economic growth while the nexus is positive with investment and price level. For economic growth, the deviation of the actual series from the counterfactual is negative, instantaneous, persistent and highly significant; indicating non-negligible costs of the shock. Indeed, dependence on natural resources amplifies the negative influence of political crisis, protests and uprisings on GDP. Finally, the more the treated country depends on natural resources, the more it becomes resilient to the investment losses caused by political crisis. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
3. Who Is Who in Knowledge Economy in Africa?
- Author
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Asongu, Simplice A., Tchamyou, Vanessa S., and Acha-Anyi, Paul N.
- Published
- 2020
- Full Text
- View/download PDF
4. Mitigating the macroeconomic impact of severe natural disasters in Africa: policy synergies.
- Author
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Diop, Samba, Asongu, Simplice A., and Tchamyou, Vanessa S.
- Subjects
NATURAL disasters ,CAPITAL stock ,POLITICAL stability ,HUMAN security ,GROSS domestic product ,ECONOMIC impact - Abstract
This study evaluates the economic impact of severe natural disasters in Africa using the generalised synthetic control method. In other words, it assesses how gross domestic product (GDP) would have been affected, had severe natural disasters not occurred. Moreover, it explores the determinants of the destructiveness of the impact of natural disasters, focusing on the role played by capital. We find that severe natural disasters induce a significant and continuous reduction of GDP many years after the event. Indeed, economic losses caused by disasters depend on the level of capital (human capital, employment and capital stock) and aspects of governance quality (political stability and absence of violence). In other words, negative synergies are apparent because while capital stock, employment and human capital unconditionally reduce the macroeconomic impact of natural disasters, the corresponding conditional or interactive effects with political stability are also negative. Policy implications are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
5. Globalisation and governance in Africa: a critical contribution to the empirics
- Author
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Asongu, Simplice A., Efobi, Uchenna, and Tchamyou, Vanessa S.
- Published
- 2018
- Full Text
- View/download PDF
6. The comparative African regional economics of globalization in financial allocation efficiency: the pre-crisis era revisited
- Author
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Asongu, Simplice A., Nnanna, Joseph, and Tchamyou, Vanessa S.
- Published
- 2020
- Full Text
- View/download PDF
7. Finance, Institutions, and Private Investment in Africa.
- Author
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Asongu, Simplice A., Nnanna, Joseph, and Tchamyou, Vanessa S.
- Subjects
INTERNATIONAL economic assistance ,MONETARY unions ,ECONOMIC development ,FINANCIAL institutions ,PROPERTY rights ,PRINCIPAL components analysis - Abstract
Copyright of Politics & Policy is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2021
- Full Text
- View/download PDF
8. Human capital, knowledge creation, knowledge diffusion, institutions and economic incentives: South Korea versus Africa
- Author
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Asongu, Simplice and Tchamyou, Vanessa S.
- Subjects
O10 ,O55 ,Policy syndromes ,Knowledge economy ,Benchmarks ,Africa ,ddc:330 ,O30 ,Catch-up ,O57 ,O38 - Abstract
This article compares African countries to South Korea in terms of knowledge economy (KE). Emphasis is laid on human capital, knowledge creation, knowledge diffusion, institutions and economic incentives. The analytical approach consists of providing knowledge economy catch-up strategies that can be understood within the context of country-specific gaps between the frontier country in KE and laggard African countries. The empirical evidence is based on sigma convergence with data for the period 1996-2010. Overall, a KE diagnosis is provided by assessing KE gaps (between South Korea and specific-African countries) and suggesting compelling catch-up strategies with which to reduce identified gaps. Contemporary and non-contemporary policies from South Korea and more contemporary policies based on challenges of globalisation are discussed. The policy relevance of this inquiry aligns with the scholarly perspective that catch-up between South Korea and more advanced economies was accelerated by the former adapting to and assimilating relatively obsolete technological know-how from more developed nations.
- Published
- 2018
9. Remittances, ICT and doing business in Sub-Saharan Africa
- Author
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Asongu, Simplice, Biekpe, Nicholas, and Tchamyou, Vanessa S.
- Subjects
O55 ,Remittances ,L96 O30 ,ICT ,Africa ,ddc:330 ,F24 ,Development ,F63 ,Doing business - Abstract
Purpose - This study examines how linkages between information and communication technology (ICT) and remittances affect the doing of business. Design/methodology/approach - The focus is on a panel of 49 sub-Saharan African countries for the period 2000-2012. The empirical evidence is based on Generalised Method of Moments. Findings - While we establish some appealing results in terms of net negative effects on constraints to the doing of business (i.e. time to start a business and time to pay taxes), some positive net effects are also apparent (i.e. number of start-up procedures, time to build a warehouse and time to register a property). We also establish ICT penetration thresholds at which the unconditional effect of remittances can be changed from positive to negative, notably: (i) for the number of start-up procedures, an internet level of 9.00 penetration per 100 people is required while (ii) for the time to build a warehouse, a mobile phone penetration level of 32.33 penetration per 100 people is essential. Practical and theoretical implications are discussed. Originality/value - To the best of our knowledge, this is the first study to assess linkages between ICT, remittances and doing business in Sub-Saharan Africa.
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- 2018
10. Inequality, ICT and financial access in Africa
- Author
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Tchamyou, Vanessa S., Erreygers, Guido, and Cassimon, Danny
- Subjects
O55 ,Financial development ,Inequality ,L96 ,ICT ,Africa ,ddc:330 ,I30 ,O16 - Abstract
This study investigates the role of information and communication technology (ICT) on income inequality through financial development dynamics of depth (money supply and liquid liabilities), efficiency (at banking and financial system levels), activity (from banking and financial system perspectives) and size, in 48 African countries for the period 1996 to 2014. The empirical evidence is based on Generalised Method of Moments. While both financial depth and size are established to reduce inequality contingent on ICT, only the effect of financial depth in reducing inequality is robust to the inclusion of time invariant variables to the set of strictly exogenous variables. We extend the analysis by decomposing financial depth into its components, namely : formal, informal, semi-formal and non-formal financial sectors. The findings based on this extension show that ICT reduces income inequality through formal financial sector development and financial sector formalization as opposed to informal financial sector development and financial sector informalization. The study contributes at the same time to the macroeconomic literature on measuring financial development and responds to the growing field of addressing post-2015 Sustainable Development Goals (SDGs) inequality challenges by means of ICT and financial access.
- Published
- 2018
11. Education, lifelong learning, inequality and financial access: Evidence from African countries
- Author
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Tchamyou, Vanessa S.
- Subjects
I28 ,O55 ,Financial development ,Inequality ,Lifelong Learning ,education ,Africa ,ddc:330 ,I30 ,I20 ,O16 ,Education - Abstract
This study investigates the role of financial access in modulating the effect of education and lifelong learning on inequality in 48 African countries for the period 1996 to 2014. Lifelong learning is conceived and measured as the combined knowledge gained from primary through tertiary education while the three educational indicators are: primary school enrolment; secondary school enrolment and tertiary school enrolment. Financial development dynamics are measured with financial system deposits (liquid liabilities), financial system activity (credit) and financial system efficiency (deposits/credit). Three measures of inequality are employed notably: the Gini coefficient; the Atkinson index and the Palma ratio. The estimation strategy is based on Generalised Method of Moments. The following findings are established. First, primary school enrolment interacts with all financial channels to exert negative effects on the Gini index. Second, lifelong learning has negative net effects on the Gini index through financial deposit and efficiency channels. Third, for the most part, the other educational levels do not significantly influence inequality through financial access channels. Policy implications are discussed.
- Published
- 2018
12. Fighting terrorism in Africa when existing terrorism levels matter.
- Author
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Asongu, Simplice A., Tchamyou, Vanessa S., Asongu, Ndemaze, and Tchamyou, Nina P.
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DOMESTIC terrorism ,TERRORISM ,POLITICAL stability ,QUANTILE regression ,COUNTERTERRORISM - Abstract
This study examines policy tools in the fight against terrorism when existing levels of terrorism matter in 53 African countries for the period 1998–2012. The empirical evidence is based on contemporary, non-contemporary and Instrumental Variable Quantile regressions (QR) which enable the investigation throughout the conditional distributions of domestic, transnational and total terrorism dynamics. The following findings are established. First, counterterrorism policy instruments of inclusive human development and military expenditure further fuel terrorim. Second, political stability negatively affects terrorism with a negative threshold effect. Political stability estimates are consistently significant with increasing negative magnitudes throughout the conditional distributions of domestic and total terrorism. Policy implications are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
13. A summary of a survey on proposed African monetary unions
- Author
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Asongu, Simplice, Nwachukwu, Jacinta C., and Tchamyou, Vanessa S.
- Subjects
P52 ,O55 ,F36 ,F15 ,Africa ,ddc:330 ,Policy Coordination ,F42 ,Currency Area - Abstract
This review summarises a survey of about 70 empirical studies on proposed African monetary unions published during the past fifteen years. Four main strands are outlined in four tables. They include the: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). A number of concerns are apparent from the feasibility and/or desirability of potential monetary unions. They are variations in: empirical strategies, selection of variables, considered periodicities and sampled countries. The Hegelian dialectics are used to establish selective expansion as the predominant mode of monetary integration. Some studies make the case for strong institutions and pegs as alternatives to currency unions. The employment of cluster analysis, distinguishing shocks from responses in the examination of business cycle synchronisation and the disaggregation of panels into sub-samples provide more subtle policy implications.
- Published
- 2017
14. Who is Who in Knowledge Economy in Africa?
- Author
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Asongu, Simplice, Tchamyou, Vanessa S., and Acha-Anyi, Paul N.
- Subjects
O10 ,O55 ,Policy syndromes ,Knowledge economy ,Benchmarks ,Africa ,ddc:330 ,O30 ,Catch-up ,O57 ,O38 - Abstract
This study assesses the knowledge economy (KE) performance of lagging African countries vis-à-vis their frontier counterparts with regard to the four dimensions of the World Bank’s knowledge economy index (KEI). The empirical exercise is for the period 1996-2010. It consists of first establishing leading nations before suggesting policy initiatives that can be implemented by sampled countries depending on identified gaps that are provided with the sigma convergence estimation approach. The following are established frontier knowledge economy countries. (i) For the most part, North African countries are dominant in education. Tunisia is overwhelmingly dominant in 11 of the 15 years, followed by Libya which is a frontier country in two years while Cape Verde and Egypt lead in a single year each. (ii) With the exception of Morocco that is leading in the year 2009, Seychelles is overwhelmingly dominant in ICT. (iii) South Africa also indomitably leads in terms of innovation. (iv) While Botswana and Mauritius share dominance in institutional regime, economic incentives in terms of private domestic credit are most apparent in Angola (8 years), the Democratic Republic of Congo (3 years) and Tanzania, Sierra Leone and Malawi (each leading in one year).
- Published
- 2017
15. Human capital, knowledge creation, knowledge diffusion, institutions and economic incentives: South Korea versus Africa.
- Author
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Asongu, Simplice A. and Tchamyou, Vanessa S.
- Subjects
HUMAN capital ,INFORMATION economy - Abstract
This article compares African countries to South Korea in terms of knowledge economy (KE). Emphasis is laid on human capital, knowledge creation, knowledge diffusion, institutions and economic incentives. The analytical approach consists of providing KE catch-up strategies that can be understood within the context of country-specific gaps between the frontier country in KE and laggard African countries. The empirical evidence is based on sigma convergence with data for the period 1996–2010. Overall, a KE diagnosis is provided by assessing KE gaps (between South Korea and specific-African countries) and suggesting compelling catch-up strategies with which to reduce identified gaps. Contemporary and non-contemporary policies from South Korea and more contemporary policies based on challenges of globalisation are discussed. The policy relevance of this inquiry aligns with the scholarly perspective that catch-up between South Korea and more advanced economies was accelerated by the former adapting to and assimilating relatively obsolete technological know-how from more developed nations. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
16. Technology-driven information sharing and conditional financial development in Africa.
- Author
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Asongu, Simplice A., Anyanwu, John C., and Tchamyou, Vanessa S.
- Subjects
INFORMATION sharing ,FINANCIAL databases ,QUANTILE regression ,MONEY supply ,DIGITAL divide ,INTERMEDIATION (Finance) ,CREDIT bureaus ,EFFECT of technological innovations on financial institutions - Abstract
Information technology is increasingly facilitating mechanisms by which information asymmetry between lenders and borrowers in the financial sector can be reduced in order to enhance financial access for human and economic development in developing countries. We examine conditional financial development from ICT-driven information sharing in 53 African countries for the period 2004–2011, using contemporary and non-contemporary quantile regressions. ICT is measured with mobile phone penetration and internet penetration, whereas information-sharing offices are public credit registries and private credit bureaus. The following findings are established. First, there are positive effects with positive thresholds from ICT-driven information sharing on financial depth (money supply and liquid liabilities) and financial activity (at banking and financial system levels). Second, for financial intermediation efficiency, the positive effects from mobile-driven information sharing are apparent exclusively in certain levels of financial efficiency. Third, with regard to financial size, mobile-driven information sharing is positive with a negative threshold, whereas internet-driven information sharing is positive exclusively among countries in the bottom half of financial size. Positive thresholds are defined as decreasing negative or increasing positive estimated effects from information-sharing offices and vice versa for negative thresholds. Policy implications are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
17. Globalization and Governance: A Critical Contribution to the Empirics
- Author
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Asongu, Simplice, Efobi, Uchenna, and Tchamyou, Vanessa S.
- Subjects
O10 ,Governance ,O55 ,Africa ,ddc:330 ,F10 ,I30 ,Globalization ,F30 - Abstract
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.
- Published
- 2016
18. Information Asymmetry and Financial Dollarization in Sub-Saharan Africa
- Author
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Asongu, Simplice, Raheem, Ibrahim D., and Tchamyou, Vanessa S.
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O55 ,Information Asymmetry ,Africa ,ddc:330 ,Dollarization ,G20 ,Openness ,E41 ,E31 ,O16 - Abstract
Financial dollarization in Sub-Saharan Africa is the most persistent compared to other regions of the world. This study complements the existing scant literature on dollarization in Africa by assessing the role of information sharing offices (public credit registries and private credit bureaus) on financial dollarization in 26 countries of SSA for the period 2001-2012. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalised Method of Moments (GMM). The findings show that information sharing offices (which are designed to reduce information asymmetry) in the banking industry are a deterrent to dollarization. Policy implications are discussed.
- Published
- 2016
19. The role of knowledge economy in African business
- Author
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Tchamyou, Vanessa S.
- Subjects
O20 ,O10 ,O55 ,L59 ,Africa ,ddc:330 ,O30 ,Development ,Knowledge Economy ,Doing business - Abstract
This paper assesses the role knowledge economy (KE) in African business in 53 countries for the period 1996-2010. The four KE components of the World Bank are employed, notably: education, innovation, economic incentives & institutional regime and information & communication technology. The business indicators are classified into: starting, doing and ending business. Principal components analysis and panel instrumental variable fixed effects approaches are employed as empirical strategies. The findings which are broadly consistent with intuition and the predictions of economic theory suggest that KE policies will substantially boost the starting and doing of business in Africa. This is relevant in fighting unemployment and improving African competitiveness in global value chains. Policy implications for the relevance of each specific KE dimension in African business are discussed with particular emphasis on the theoretical underpinnings of the study. The investigation is original in its contribution at the same time to the scarce literature on African KE and the growing challenges of improving the business climate of the continent by means of KE.
- Published
- 2015
20. Foreign aid, education and lifelong learning in Africa
- Author
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Asongu, Simplice A. and Tchamyou, Vanessa S.
- Subjects
Foreign aid ,I28 ,O55 ,Lifelong learning ,education ,Africa ,ddc:330 ,P16 ,I20 ,F35 ,Development - Abstract
This study investigates the effect of foreign aid on education and lifelong learning in 53 African countries for the period 1996-2010. Three main issues are assessed, notably: (i) the effect of aid on education; (ii) the incremental impact of aid on education and (iii) the effect of aid on lifelong learning. Lifelong learning is measured as the combined knowledge acquired during the primary, secondary and tertiary levels of education. Foreign aid dynamics include: Total aid, aid from Multilateral Donors (MD) and aid from the Development Assistance Committee (DAC) countries. The empirical evidence is based on an endogeneity-robust Generalized Method of Moments. The following findings are established. First, the aid variables have positive effects on primary school enrolment and lifelong learning, with the exception of aid from MD which positively affects only lifelong learning. Second, the positive effect on primary school enrolment consistently has a higher magnitude compared to the corresponding impact on lifelong learning. Third, the effects of aid dynamics on secondary and tertiary school enrolments are not significant. We also contribute to the literature by proposing an indicator of lifelong learning for developing countries.
- Published
- 2015
21. Mobile phones in conflicts of financial intermediation
- Author
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Asongu, Simplice A. and Tchamyou, Vanessa S.
- Subjects
O33 ,Mobile Phones ,Shadow Economy ,L96 ,Africa ,ddc:330 ,E00 ,G20 ,O17 ,Financial Development ,Banking - Abstract
To the best our knowledge, in the first empirical macroeconomic examination of the nexus between financial intermediation and mobile phones, Asongu employs two conflicting financial system definitions in the assessment of how mobile phones have stimulated financial development in Africa. Within the framework of the dominant International Monetary Fund's International Financial Statistics (2008) definition, mobile phones are established to be negatively associated with financial intermediary dynamics of depth, activity and size. Conversely, when the previously neglected informal financial sector is integrated into the conception, definition and measurement of the financial system, mobile phones are positively (negatively) correlated with the informal (formal) financial intermediation sector. The empirical evidence is based on 52 African countries. Causality in the established linkages has been confirmed in subsequent studies by the same author. At least three policy implications derive from the findings. First, the role of informal financial intermediation is increasing to the detriment of formal financial mechanisms. Second, in order to capture the positive effect of mobile phones on finance, it is imperative to integrate the missing informal financial sector component into the IMF definition of the financial system. Third, it is a wake-up call for more scholarly research on: (i) macroeconomic financial development implications of mobile phone penetration and (ii) monetary policy instruments in the face of burgeoning 'mobile phone'-oriented financial intermediation.
- Published
- 2015
22. A Literature Survey on Proposed African Monetary Unions
- Author
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Asongu, Simplice A., Nwachukwu, Jacinta C., and Tchamyou, Vanessa S.
- Subjects
P52 ,O55 ,F36 ,F15 ,Africa ,ddc:330 ,Policy Coordination ,F42 ,Currency Area - Abstract
This study provides a survey of recent advances in the literature on proposed African monetary unions. The survey comprises about 60 empirical papers published during the past fifteen years. Four main strands are discussed individually and collectively, notably, the proposed: West African Monetary Zone (WAMZ), East African Monetary Union (EAMU), Southern African Monetary Union (SAMU) and African Monetary Union (AMU). We observe a number of issues with establishing the feasibility and/or desirability of potential monetary unions, inter alia, variations in: choice of variables, empirical strategies, sampled countries and considered periodicities. We address this ambiguity by reviewing studies with scenarios that are consistent with Hegelian dialectics and establish selective expansion as the predominant mode of monetary integration. Some proponents make cases for strong pegs and institutions as viable alternatives to currency unions. Using cluster analysis, disaggregating panels into sub-samples and distinguishing shocks from responses in the examination of business cycle synchronisation provide more subtle policy implications. We caution that for inquiries using the same theoretical underpinnings, variables and methods just by modifying the scope/context and periodicity may only contribute to increasing the number of conflicting findings. Authors should place more emphasis on new perspectives and approaches based on caveats of, and lessons from the European Monetary Union (EMU) and CFA zones.
- Published
- 2015
23. The Role of Information Sharing in Modulating the Effect of Financial Access on Inequality.
- Author
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Tchamyou, Vanessa S.
- Subjects
- *
INFORMATION sharing , *CREDIT bureaus , *MONEY supply , *INCOME inequality - Abstract
This study examines the role of information sharing in modulating the effect of financial access on income inequality in 48 African countries for the period 2004–2014. Information sharing is proxied with private credit bureaus and public credit registries. All dynamics of financial development are taken into account, namely: depth (money supply and liquid liabilities), efficiency (at banking and financial system levels), activity (from banking and financial system perspective) and size. The empirical exercise is based on interactive Generalised Method of Moments. It can be established from the findings that: first, a threshold of 18.072 percentage coverage of public credit registries is needed to counteract the unconditional positive effect of banking system efficiency. Secondly, on the role of private credit bureaus in financial depth, both the unconditional and the conditional effects are negative, implying a negative synergy. Overall, the findings show that, contingent on the type of financial development dynamic, credit registries broadly play their theoretical role of decreasing financing constraints in order to ultimately reduce inequality. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
24. Foreign Aid, Education and Lifelong Learning in Africa.
- Author
-
Asongu, Simplice A. and Tchamyou, Vanessa S.
- Abstract
This study investigates the effect of foreign aid on education and lifelong learning in 53 African countries for the period 1996–2010. Three main issues are assessed, notably: (i) the effect of aid on education; (ii) the incremental impact of aid on education and (iii) the effect of aid on lifelong learning. Lifelong learning is measured as the combined knowledge acquired during the primary, secondary and tertiary levels of education. Foreign aid dynamics include total aid, aid from multilateral donors (MD) and aid from the Development Assistance Committee (DAC) countries. The empirical evidence is based on an endogeneity-robust generalized method of moments. The following findings are established. First, the aid variables have positive effects on primary school enrolment and lifelong learning, with the exception of aid from MD which positively affects only lifelong learning. Second, the positive effect on primary school enrolment consistently has a higher magnitude compared to the corresponding impact on lifelong learning. Third, the effects of aid dynamics on secondary and tertiary school enrolments are not significant. We also contribute to the literature by proposing an indicator of lifelong learning for developing countries. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
25. Inequality, ICT and financial access in Africa.
- Author
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Tchamyou, Vanessa S., Erreygers, Guido, and Cassimon, Danny
- Subjects
EQUALITY ,INFORMATION & communication technologies ,INCOME ,TECHNOLOGICAL forecasting ,TECHNOLOGY assessment - Abstract
Abstract This study investigates the role of information and communication technology (ICT) on income inequality through financial development dynamics of depth (money supply and liquid liabilities), efficiency (at banking and financial system levels), activity (from banking and financial system perspectives) and size, in 48 African countries for the period 1996 to 2014. The empirical evidence is based on Generalised Method of Moments. While both financial depth and size are established to reduce inequality contingent on ICT, only the effect of financial depth in reducing inequality is robust to the inclusion of time invariant variables to the set of strictly exogenous variables. We extend the analysis by decomposing financial depth into its components, namely: formal, informal, semi-formal and non-formal financial sectors. The findings based on this extension show that ICT reduces income inequality through formal financial sector development and financial sector formalization as opposed to informal financial sector development and financial sector informalization. The study contributes at the same time to the macroeconomic literature on measuring financial development and responds to the growing field of addressing post-2015 Sustainable Development Goals (SDGs) inequality challenges by means of ICT and financial access. Highlights • We investigate linkages between information technology, finance and income inequality. • The focus is on 48 African countries for the period 1996 to 2014. • The empirical evidence is based on Generalised Method of Moments. • Findings are presented in terms of financial depth, activity, efficiency and size. • Results are also extended to the formal, informal, semi-formal and non-formal financial sectors. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
26. Information Sharing and Financial Sector Development in Africa.
- Author
-
Tchamyou, Vanessa S. and Asongu, Simplice A.
- Subjects
- *
ECONOMIC development , *INFORMATION sharing , *LEAST squares , *GENERALIZED method of moments , *CREDIT bureaus - Abstract
This study investigates the effect information sharing has on financial sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of financial sector development are employed, namely: financial sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) financial sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage. [ABSTRACT FROM PUBLISHER]
- Published
- 2017
- Full Text
- View/download PDF
27. Information asymmetry and financial development dynamics in Africa.
- Author
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Asongu, Simplice A., Nwachukwu, Jacinta C., and Tchamyou, Vanessa S.
- Abstract
We examine policy thresholds of information sharing for financial development in 53 African countries for the period 2004–2011. Public credit registries (PCRs) and private credit bureaus (PCBs) are used as proxies for reducing information asymmetry whereas financial development includes all financial dimensions identified by the financial development and structure database (FDSD) of the World Bank, namely: depth, efficiency, activity and size. The empirical evidence is based on interactive generalised methods of moments with forward orthogonal deviations. The following findings are established. First, PCRs and PCBs have negative effects on financial depth, with the magnitude of the former higher. Second, contrary to PCRs which have insignificant effects, PCBs have a negative impact on banking system efficiency. Third, PCRs and PCBs have negative impacts on financial activity, with the magnitude of the latter higher. Moreover, both of their marginal effects are negative. Fourth, PCRs and PCBs have positive effects on financial size, with the effect of the former higher. While marginal effects are positive, corresponding thresholds are not within range. Policy implications are discussed. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
28. The impact of entrepreneurship on knowledge economy in Africa.
- Author
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Asongu, Simplice A. and Tchamyou, Vanessa S.
- Abstract
Purpose – This paper aims to assess how entrepreneurship affects knowledge economy (KE) in Africa. Design/methodology/approach – Entrepreneurship is measured by indicators of starting, doing and ending business. The four dimensions of the World Bank’s index of KE are used. Instrumental variable panel-fixed effects are applied on a sample of 53 African countries for the period of 1996-2010. Findings – The following are some of the findings. First, creating an enabling environment for starting business can substantially boost most dimensions of KE. Second, doing business through mechanisms of trade globalization has positive effects from sectors that are not information and communication technology (ICT) and high-tech oriented. Third, the time required to end business has negative effects on KE. Practical implications – The findings confirm the narrative that the technology in African countries at the moment may be more imitative and adaptive for reverse engineering in ICTs and high-tech products. Given the massive consumption of ICT and high-tech commodities in Africa, the continent has to start thinking of how to participate in the global value chain of producing what it consumes. Originality/value – This paper has a twofold motivation. First, given the ambitions of African countries of moving towards knowledge-based economies, the line of inquiry is timely. Second, investigating the nexus may have substantial poverty mitigation and sustainable development implications. These entail, inter alia, the development of technology with value-added services; enhancement of existing agricultural practices; promotion of conditions that are essential for competitiveness; and adjustment to globalization challenges. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
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