African financial development dynamics: big time convergence

Asongu, Simplice A.

doi:10.1108/ajems-06-2012-0037

Cited by 38 publications

(17 citation statements)

References 59 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The beta convergence approach is not used because it is panel-oriented. Moreover, the beta (conditional and unconditional) estimation strategy is also associated with issues of multiple equilibria and initial endowments (see Asongu, 2014aAsongu, , 2014bMonfort, 2008, p. 4-5). The corresponding sigma or cross-sectional catch-up approach is presented as in Eq.…”

Section: Methodsmentioning

confidence: 99%

Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa

Asongu

Tchamyou

2018

SSRN Journal

View full text Add to dashboard Cite

Disclaimer: AFEA Working Papers describe research in progress by the author(s) that has been peerreviewed and forthcoming in scientific outlets. There is a tacit acknowledgement of anonymous referees for constructive suggestions and critiques that have helped improve the content and rigour of the study. Each research stands on its merit and the views expressed in AFEA Working Papers are those of the author(s) and do not necessarily represent the views of the AFEA, its Executive Board, or AFEA management.

show abstract

Section: Methodsmentioning

confidence: 99%

Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa

Asongu

Tchamyou

2018

SSRN Journal

View full text Add to dashboard Cite

show abstract

“…Stock market performance has its wider grip on the economy of the country. Certain researchers such as Asongu (2012aAsongu ( , 2012bAsongu ( , 2012c and Chen et al (2009) suggested that efficient distribution of capital is provided by developed stock markets as a result, while its cost of capital decreases. A well performing stock market brings a positive vibe to the financial sector of the country and provides stability (Umutlu et al, 2010).…”

Section: Literature Reviewmentioning

confidence: 99%

Measuring the impact of governance quality on stock market performance in developed countries

Imran

Ejaz²,

Spulbăr

et al. 2020

Economic Research-Ekonomska Istraživanja

View full text Add to dashboard Cite

The aim of this article is to examine the relationship between stock market performance and country level governance indicators. A good quality of governance in a country ensures effective implementation of laws which can protect the investor and improve stock market performance and vice versa. Our study utilises annual stock returns and country level governance indicators for 25 developed countries from 1996 to 2018. The fixed effect estimation suggests that stock market performance and governance indicators share a positive relationship. Our findings suggest that high quality of governance is associated with higher returns on stock. Institutional quality is a preconditioned for financial developed that set the direction of change to reduce transaction costs and agency costs and make profitable projects available to firms that subsequently leads to higher demand for equity financing. These findings have significant implications for stock market policymakers and standard asset pricing models that only include market risk factors to predict future expected stock returns.

show abstract

“…inclusive human development (Mayer-Foulkes, 2010;Asongu, 2014a) and financial market development (Narayan et al, 2011;Bruno et al, 2012;Asongu, 2013Asongu, , 2014bAsongu, , 2014c.…”

Section: Introductionmentioning

confidence: 99%

Persistence in incarcerations: global comparative evidence

Asongu

2018

JCRPP

View full text Add to dashboard Cite

Purpose The purpose of this paper is to assess how incarcerations persist across the world. The focus is on 163 countries for the period 2010-2015. Design/methodology/approach The empirical evidence is based on generalized method of moments. In order to increase room for policy implications, the data set is decomposed into sub-samples based on income levels, religious domination, openness to the sea, regional proximity and legal origins. Findings The following main findings are established. Incarcerations are more persistent in low income, Christian-protestant and Latin American countries while comparative evidence is not feasible on the basis of landlockedness and legal origins owing to unfavorable post-estimation diagnostic tests. Justifications for the comparative advantages and relevance of findings to theory building in public economics are discussed. Practical implications First, income levels matter in the persistence of incarcerations because low-income nations vis-à-vis their high-income counterparts have less financial resources with which to prevent and deal with events like terrorism, political instability and violence that lead to incarcerations. Second, the intuition for religious domination builds on the fact that liberal societies can be more associated with incarcerations compared to conservative societies. The main theoretical contribution of this study to the literature is that the authors have built on empirical validity to provide theoretical justification as to why categorizing countries on the basis of selected fundamental characteristics determine cross-country variations in incarcerations. Such evidence is important for theory building in public economics. Originality/value It is important for policy makers to understand the persistence of incarcerations across nations because resources could be allocated to regions and countries, contingent on the relative importance of future incarceration tendencies.

show abstract

African financial development dynamics: big time convergence

Cited by 38 publications

References 59 publications

Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa

Human Capital, Knowledge Creation, Knowledge Diffusion, Institutions and Economic Incentives: South Korea Versus Africa

Measuring the impact of governance quality on stock market performance in developed countries

Persistence in incarcerations: global comparative evidence

Contact Info

Product

Resources

About