Financial Globalisation Dynamic Thresholds for Financial Development: Evidence from Africa

Asongu, Simplice A.; Moor, Lieven De

doi:10.1057/ejdr.2016.10

Cited by 308 publications

(126 citation statements)

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“…Four main information criteria are used to assess the validity of a GMM model with forward orthogonal deviations (See Asongu and De Moor 2017). First, the null hypothesis of the second-order Arellano and Bond autocorrelation test (AR(2)) in difference should not be rejected because it argues for the absence of autocorrelation in the residuals.…”

Section: Presentation Of Resultsmentioning

confidence: 99%

“…In the light of the above, at least four main factors motivate the choice of a GMM estimation technique (Asongu and De Moor, 2017;Tchamyou and Asongu, 2017). First, the number of years per country (T) is lower than the number of countries (N).…”

Section: Estimation Techniquementioning

confidence: 99%

“…Consistent with Love and Zicchino (2006), Dewan and Ramaprasad (2014) and Asongu and De Moor (2017), we treat all independent variables as suspected endogenous or predetermined variables. Therefore, the gmmstyle is adopted for them.…”

Section: Exclusion Restrictionmentioning

confidence: 99%

“…As recently documented by Asongu and De Moor (2017), in order to address the concern about simultaneity, lagged regressors are used as instruments for forward-differenced variables. In essence, in order to remove fixed effects that could affect the investigated nexuses, Helmet transformations are performed for the regressors, in line with Arellano and Bover (1995) and Love and Zicchino (2006).…”

Section: Exclusion Restrictionmentioning

confidence: 99%

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Fighting terrorism in Africa: evidence from bundling and unbundling institutions

et al. 2017

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This study assesses government mechanisms in the fight against terrorism with particular emphasis on the bundling and unbundling of ten governance dynamics. The empirical evidence is based on a panel of 53 African countries for period 1998-2012 and GeneralizedMethod of Moments. The following findings are established. First, for the most part, political governance and its constituents respectively have negative effects on all terrorism dynamics, with the following consistent increasing order of negative magnitude: unclear terrorism, transnational terrorism, domestic terrorism and total terrorism. Second, overwhelmingly for economic and institutional governances, the governance dynamics and their constituent components affect terrorism negatively, with the magnitude on domestic terrorism consistently higher than that on transnational terrorism. Third, for most specifications, the effect of general governance is consistently negative on terrorism variables.Theoretical and practical policy implications are discussed.

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Section: Presentation Of Resultsmentioning

confidence: 99%

Section: Estimation Techniquementioning

confidence: 99%

Section: Exclusion Restrictionmentioning

confidence: 99%

Section: Exclusion Restrictionmentioning

confidence: 99%

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Fighting terrorism in Africa: evidence from bundling and unbundling institutions

et al. 2017

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“…In accordance with recent empirical literature that is based on the GMM approach (Asongu & De Moor, 2017), four principal post-diagnostic information criteria are employed to examined the validity of estimation models. First, the absence of autocorrelation in the residuals is examined by second order Arellano and Bond autocorrelation test in difference (AR(2)) whose null hypothesis for the absence of autocorrelation should not be rejected.…”

Section: Presentation Of Resultsmentioning

confidence: 99%

The Role of Openness in the Effect of ICT on Governance

Asongu

Nwachukwu

2018

SSRN Journal

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Exchange rate misalignment and financial development in Africa

Nchofoung,

Ojong,

Gachili

2024

Int. J Fin Econ

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We examine the effect of misaligned exchange rates on financial development in Africa. Results from quantile regression techniques and the IV Lewbel estimator reveal that exchange rate misalignment significantly hampers financial development on that continent. This result is robust across financial institutions and financial markets. We also show that while the effects of misaligned exchange rates are negative on financial institutions and positive on financial markets in African franc‐zone countries, the effects are consistently negative across all financial sectors in the non‐franc‐zone countries there. When robustness assessment is done using quantile regression, the results show that the negative effect of misalignment on financial development is only feasible from the 75th percentile and higher in Africa in general and for the non‐franc‐zone countries in particular.

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Financial Globalisation Dynamic Thresholds for Financial Development: Evidence from Africa

Abstract: Purpose -We investigate if financial development benefits from financial globalisation are questionable until certain thresholds of financial globalisation are attained.

Cited by 308 publications

References 65 publications

Fighting terrorism in Africa: evidence from bundling and unbundling institutions

Fighting terrorism in Africa: evidence from bundling and unbundling institutions

The Role of Openness in the Effect of ICT on Governance

Exchange rate misalignment and financial development in Africa

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