Effects of globalization on peace and stability: Implications for governance and the knowledge economy of African countries

Abstract

We argue that there exists an indirect link between globalization and the knowledge economy of African countries in which globalization influences 'peace and stability' and peace and stability affects governance, and through governance the knowledge economy. We model the link as a three-stage process in four testable hypotheses, which permits an empirical analysis without sacrificing economic relevance for statistical significance. The results indicate that the impacts on governance of peace and stability from globalization defined as trade are stronger than those of peace and stability resulting from globalization taken to be foreign direct investment. We conclude that foreign direct investment is not a powerful mechanism for stimulating and sustaining the African knowledge. However, since the effects of globalization on peace and stability can influence governance both positively and negatively, we also conclude that the prospect for the knowledge economy in African countries may be realistic and attainable, as long as these countries continue to engage in the kind of globalization that enhances peace and stability.

Technology-driven information sharing and conditional financial development in Africa

“…The instrumentation procedure which is consistent with recent literature on globalisation-driven debts and globalisation-driven peace and stability (Amavilah et al, 2017), is discussed in Section 3.2.1…”

“…Consistent with recent literature Amavilah et al, 2017), factor loadings are derived in Eq. (1) by instrumentation information sharing offices with ICT.…”

Openness, ICT and entrepreneurship in sub-Saharan Africa

“…The rationale for the selection of the globalisation indicators is evidence in the available literature that financial and trade transactions are intuitively linked with ICT (Asongu, 2014a;Amavilah et al, 2017).…”

Openness, ICT and Entrepreneurship in Sub-Saharan Africa

“…Examining the importance of ICT in openness for entrepreneurship in Sub-Saharan Africa (SSA) fundamentally builds on four trends in the literature, notably, the: evolving potential of ICT; relevance of openness in 21 st century economic prosperity 2 ; role of entrepreneurship in addressing employment concerns in the post-2015 development agenda and gaps in the entrepreneurship literature (Qureshi et al, 2009;Brixiova et al, 2015;Asongu, 2015;Kuada, 2009Kuada, , 2015Asongu et al, 2016;Roztocki & Weistroffer, 2016;Asongu & Le Roux, 2017;Amavilah et al, 2017;Asongu & Biekpe, 2017).…”

“…This study investigates a panel of forty-nine counties in SSA with data from the World Bank (Asongu, 2014a;Amavilah et al, 2017).…”