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Simplice A. Asongu - One of the best experts on this subject based on the ideXlab platform.
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Governance, Capital flight and Industrialisation in Africa
Journal of Economic Structures, 2019Co-Authors: Simplice A. Asongu, Nicholas M. OdhiamboAbstract:Abstract The study examines the role of Governance in modulating the effect of capital flight on industrialisation in Africa. The empirical evidence is based on Generalised Method of Moments and Governance is bundled by principal component analysis, namely (i) Political Governance from Political stability and “voice and accountability”; (ii) economic Governance from government effectiveness and regulation quality; and (iii) institutional Governance from corruption-control and the rule of law. First, Governance increases industrialisation whereas capital flight has the opposite effect; and second, Governance does not significantly mitigate the negative effect of capital flight on industrialisation. Policy implications are discussed.
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Foreign aid, instability and Governance in Africa
Politics and Policy, 2019Co-Authors: Simplice A. Asongu, Joseph NnannaAbstract:This study contributes to the attendant literature by bundling Governance dynamics and focusing on foreign aid instability instead of foreign aid. We assess the role of foreign aid instability on Governance dynamics in fifty three African countries for the period 1996-2010. An autoregressive endogeneity-robust Generalized Method of Moments is employed. Instabilities are measured in terms of variance of the errors and standard deviations. Three main aid indicators are used, namely: total aid, aid from multilateral donors and bilateral aid. Principal Component Analysis is used to bundle Governance indicators, namely: Political Governance (voice & accountability and Political stability/no violence), economic Governance (regulation quality and government effectiveness), institutional Governance (rule of law and corruption-control) and general Governance (Political, economic and institutional Governance). Our findings show that foreign aid instability increases Governance standards, especially Political and general Governance. Policy implications are discussed.
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Taxation,foreign aid and Political Governance in Africa
Research Papers in Economics, 2019Co-Authors: Simplice A. AsonguAbstract:This study examines the hypothesis that foreign aid dilutes the positive role of taxation on Political Governance. The empirical evidence is based on the Generalised Method of Moments and 53 African countries for the period 1996-2010. For more policy options, the dataset is disaggregated into fundamental characteristics of African development based on income levels, legal origins, natural resources and landlockedness. While the hypothesis is invalid in baseline Africa, low income and English common law countries of the continent, the research cannot conclude on its validity for other fundamental characteristics of development. Policy implications, caveats and directions for future research are discussed.
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FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance
Research Papers in Economics, 2019Co-Authors: Simplice A. AsonguAbstract:The objective of this study is to assess Governance drivers of FDI in a panel of BRICS and MINT countries for the period 2001-2011. We bundle and unbundle Governance determinants using a battery of contemporary and non-contemporary estimation techniques. Our findings reveal the following: Firstly, for both contemporary and non-contemporary specifications, while the majority of our Governance determinants of Gross FDI are significant, they are overwhelmingly insignificant for Net FDI. Secondly, the significance of the Governance dynamics in increasing order of magnitude are general Governance, Political Governance, economic Governance, Political stability, regulation quality and government effectiveness. Thirdly, for non-contemporary specifications, the significance of Governance variables is as follows in ascending order of magnitude: economic Governance, institutional Governance, general Governance, corruption-control, Political Governance and Political stability. The importance of combining Governance indicators is captured by the effects of Political Governance, economic Governance and institutional Governance. The results indicate that the simultaneous implementation of the various components of Governance clarifies a country’s attractiveness for FDI location. Policy implications are discussed with particular emphasis on the timing of FDI and its targeting.
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one bad turn deserves another how terrorism sustains the addiction to capital flight in africa
MPRA Paper, 2019Co-Authors: Simplice A. Asongu, Rexon T Nting, Evans OsabuohienAbstract:This inquiry assesses if terrorism sustains the capital flight trap and whether the relationship is affected by varying the levels of Governance and globalisation. The empirical evidence is based on interactive Generalised Method of Moments with data from 37 African countries for the period 1996-2010. The followings are established. (1) Evidence of a capital flight trap is apparent because past values of capital flight have a positive effect on future values of capital flight. (2) Terrorism sustains the positive effect of the capital flight trap on capital flight. (3) For the most part (especially with regard to Political Governance), terrorism sustains the addiction to capital flight in above-median Governance sub-samples. Policy implications are discussed.
Charikleia Theodoraki - One of the best experts on this subject based on the ideXlab platform.
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Political Governance, civil liberties, and human capital: Evaluating their effect on foreign direct investment in emerging and developing economies
Journal of International Business Studies, 2019Co-Authors: Fragkiskos Filippaios, Fatima Annan-diab, Amir Hermidas, Charikleia TheodorakiAbstract:Estudamos a influência da governança política de um país em sua atratividade para investidores estrangeiros diretos. Argumentamos que a democracia não é um conceito unidimensional e que o efeito da governança política do país anfitrião sobre o Investimento Estrangeiro Direto (FDI) difere, dependendo de o FDI vir de um país democrático ou autocrático. Também supomos que o efeito das liberdades civis depende das motivações de Empresas Multinacionais (MNEs) para investir e que o capital humano modera essa relação. Testamos nossas hipóteses em uma amostra de 35.000 investimentos em países emergentes e em desenvolvimento entre 2003 e 2013. We study the influence of a country’s Political Governance on its attractiveness to foreign direct investors. We argue that democracy is not a unidimensional concept and that the effect of host-country Political Governance on incoming foreign direct investment (FDI) differs depending on whether FDI originates from a democratic or an autocratic country. We also hypothesize that the effect of civil liberties depends on the motivations of investing multinational enterprises (MNEs) and that human capital moderates this relationship. We test our hypotheses on a sample of 35,000 investments in emerging and developing countries between 2003 and 2013. Estudiamos la influencia de la gobernanza política de un país en su atractivo para los inversores extranjeros directos. Discutimos que la democracia no es un concepto unidimensional y que el efecto de la gobernanza política del país anfitrión sobre la inversión extranjera directa (IED) difiere según si la IED se origina de un país democrático o autocrático. También hipotetizamos que el efecto de las libertades civil depende de las motivaciones de las Empresas Multinacionales (EMN) inversoras y que el capital humano modera esta relación. Probamos nuestra hipótesis en una muestra de 35.000 inversiones en países emergentes y en desarrollo entre el 2003 y el 2013. 我们研究一个国家的政治治理对其对外国直接投资者的吸引力的影响。我们认为民主不是单维的概念,东道国政治治理对外国直接投资(FDI)的影响因外国直接投资是来自民主还是专制国家而有所不同。我们还假设公民自由的影响取决于做投资的跨国企业(MNEs)的动机,并且人力资本调节这种关系。我们对2003至2013年间新兴国家和发展中国家的35,000个投资样本检测了我们的假设。 Nous étudions l’influence de la gouvernance politique d’un pays sur son attractivité pour les investisseurs directs étrangers. Nous affirmons que la démocratie n’est pas un concept unidimensionnel et que l’effet de la gouvernance politique du pays hôte sur l’investissement direct étranger (IDE) entrant diffère selon que l’IDE provient d’un pays démocratique ou autocratique. Nous émettons également l’hypothèse que l’effet des libertés civiles dépend des motivations des entreprises multinationales (EMN) qui investissent et que le capital humain modère cette relation. Nous testons nos hypothèses sur un échantillon de 35 000 investissements dans les pays émergents et en développement entre 2003 et 2013.
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Political Governance, civil liberties, and human capital: Evaluating their effect on foreign direct investment in emerging and developing economies
Journal of International Business Studies, 2019Co-Authors: Fragkiskos Filippaios, Fatima Annan-diab, Amir Hermidas, Charikleia TheodorakiAbstract:We study the influence of a country’s Political Governance on its attractiveness to foreign direct investors. We argue that democracy is not a unidimensional concept and that the effect of host-country Political Governance on incoming foreign direct investment (FDI) differs depending on whether FDI originates from a democratic or an autocratic country. We also hypothesize that the effect of civil liberties depends on the motivations of investing multinational enterprises (MNEs) and that human capital moderates this relationship. We test our hypotheses on a sample of 35,000 investments in emerging and developing countries between 2003 and 2013.
Li Jin Shan - One of the best experts on this subject based on the ideXlab platform.
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Economic Security and the Political Governance Crisis in Central African Republic
African Development Review, 2018Co-Authors: Thales Pacific Yapatake Kossele, Li Jin ShanAbstract:Recently the Central African Republic (CAR) has been experiencing huge economic insecurity which mostly derives from the Political Governance crisis that the country has been continuously undergoing since its independence in 1960. This paper examines the relationship between the Political Governance crisis and economic security in the country, covering the period 1996–2015, using two‐stage instrumental analysis and second order asymptotic tests. The results show that Political stability and absence of violence/terrorism, voice and accountability, proxies of Political Governance crisis played a different role on national income per capita, agricultural raw materials exports, agriculture value added, external balance on goods and services, food exports, food imports, foreign direct investment, GDP growth, GDP per capita growth, wage and salaried workers, industry value added, total natural resources rent and trade, as proxies of economic security. The importance of sustainable Political Governance stability and the implementation of appropriate reforms at institutional level are preconditions to economic security.
Fragkiskos Filippaios - One of the best experts on this subject based on the ideXlab platform.
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Political Governance, civil liberties, and human capital: Evaluating their effect on foreign direct investment in emerging and developing economies
Journal of International Business Studies, 2019Co-Authors: Fragkiskos Filippaios, Fatima Annan-diab, Amir Hermidas, Charikleia TheodorakiAbstract:Estudamos a influência da governança política de um país em sua atratividade para investidores estrangeiros diretos. Argumentamos que a democracia não é um conceito unidimensional e que o efeito da governança política do país anfitrião sobre o Investimento Estrangeiro Direto (FDI) difere, dependendo de o FDI vir de um país democrático ou autocrático. Também supomos que o efeito das liberdades civis depende das motivações de Empresas Multinacionais (MNEs) para investir e que o capital humano modera essa relação. Testamos nossas hipóteses em uma amostra de 35.000 investimentos em países emergentes e em desenvolvimento entre 2003 e 2013. We study the influence of a country’s Political Governance on its attractiveness to foreign direct investors. We argue that democracy is not a unidimensional concept and that the effect of host-country Political Governance on incoming foreign direct investment (FDI) differs depending on whether FDI originates from a democratic or an autocratic country. We also hypothesize that the effect of civil liberties depends on the motivations of investing multinational enterprises (MNEs) and that human capital moderates this relationship. We test our hypotheses on a sample of 35,000 investments in emerging and developing countries between 2003 and 2013. Estudiamos la influencia de la gobernanza política de un país en su atractivo para los inversores extranjeros directos. Discutimos que la democracia no es un concepto unidimensional y que el efecto de la gobernanza política del país anfitrión sobre la inversión extranjera directa (IED) difiere según si la IED se origina de un país democrático o autocrático. También hipotetizamos que el efecto de las libertades civil depende de las motivaciones de las Empresas Multinacionales (EMN) inversoras y que el capital humano modera esta relación. Probamos nuestra hipótesis en una muestra de 35.000 inversiones en países emergentes y en desarrollo entre el 2003 y el 2013. 我们研究一个国家的政治治理对其对外国直接投资者的吸引力的影响。我们认为民主不是单维的概念,东道国政治治理对外国直接投资(FDI)的影响因外国直接投资是来自民主还是专制国家而有所不同。我们还假设公民自由的影响取决于做投资的跨国企业(MNEs)的动机,并且人力资本调节这种关系。我们对2003至2013年间新兴国家和发展中国家的35,000个投资样本检测了我们的假设。 Nous étudions l’influence de la gouvernance politique d’un pays sur son attractivité pour les investisseurs directs étrangers. Nous affirmons que la démocratie n’est pas un concept unidimensionnel et que l’effet de la gouvernance politique du pays hôte sur l’investissement direct étranger (IDE) entrant diffère selon que l’IDE provient d’un pays démocratique ou autocratique. Nous émettons également l’hypothèse que l’effet des libertés civiles dépend des motivations des entreprises multinationales (EMN) qui investissent et que le capital humain modère cette relation. Nous testons nos hypothèses sur un échantillon de 35 000 investissements dans les pays émergents et en développement entre 2003 et 2013.
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Political Governance, civil liberties, and human capital: Evaluating their effect on foreign direct investment in emerging and developing economies
Journal of International Business Studies, 2019Co-Authors: Fragkiskos Filippaios, Fatima Annan-diab, Amir Hermidas, Charikleia TheodorakiAbstract:We study the influence of a country’s Political Governance on its attractiveness to foreign direct investors. We argue that democracy is not a unidimensional concept and that the effect of host-country Political Governance on incoming foreign direct investment (FDI) differs depending on whether FDI originates from a democratic or an autocratic country. We also hypothesize that the effect of civil liberties depends on the motivations of investing multinational enterprises (MNEs) and that human capital moderates this relationship. We test our hypotheses on a sample of 35,000 investments in emerging and developing countries between 2003 and 2013.
Thales Pacific Yapatake Kossele - One of the best experts on this subject based on the ideXlab platform.
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Capital Flight, Hard Mineral Resources Exports and Political Governance Crisis in the Central African Republic: How Far We have Learned?
2020Co-Authors: Thales Pacific Yapatake KosseleAbstract:Abstract The Autoregressive Distributed Lag (ARDL) approach to cointegration is applied to examine the role of Political Governance crisis in the relationship between hard mineral resources exports particularly diamond, and gold and Capital flight in the Central African Republic over the period of 1978-2010. The results of short-run show that official development assistance, gross national expenditures have a negative and significant impact on capital flight while the interaction of Political Governance crisis and hard mineral resources, GDP per capita have a positive and significant effect with capital flight. Moreover, Governance crisis, exports of hard mineral resources has a negative and insignificant impact on capital flight. The results of the long run show a negative and significant effect on Governance crisis, official development assistance and gross of national expenditures. The interaction term between hard mineral resources and GDP growth have a positive and significant effect on capital flight. However, export of hard mineral resources exhibits a positive but insignificant effect on capital flight. Without strong action to stop and promote Political Governance stability and the implementation of appropriate reforms at institutional level in CAR’s hard minerals resources sector, success in the fight against capital flight is unlikely.
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Economic Security and the Political Governance Crisis in Central African Republic
African Development Review, 2018Co-Authors: Thales Pacific Yapatake Kossele, Li Jin ShanAbstract:Recently the Central African Republic (CAR) has been experiencing huge economic insecurity which mostly derives from the Political Governance crisis that the country has been continuously undergoing since its independence in 1960. This paper examines the relationship between the Political Governance crisis and economic security in the country, covering the period 1996–2015, using two‐stage instrumental analysis and second order asymptotic tests. The results show that Political stability and absence of violence/terrorism, voice and accountability, proxies of Political Governance crisis played a different role on national income per capita, agricultural raw materials exports, agriculture value added, external balance on goods and services, food exports, food imports, foreign direct investment, GDP growth, GDP per capita growth, wage and salaried workers, industry value added, total natural resources rent and trade, as proxies of economic security. The importance of sustainable Political Governance stability and the implementation of appropriate reforms at institutional level are preconditions to economic security.