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Recent advances in finance for inclusive development: a survey

Asongu, Simplice; Lieven, De Moor - African Governance and Development Institute (AGDI) - 2015

The policy debate has been shifting from the finance-growth nexus to the finance-inequality relationship. In the … challenge of putting some structure on recent advances in finance for more inclusiveness. The overarching question tackled in … advances in finance for inclusive development. The analytical approach consists of first, situating issues of exclusive growth …

Persistent link: https://www.econbiz.de/10011196379

Investment and Inequality in Africa: which financial channels are good for the poor?

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2011

in the literature provide new insights into the finance-inequality nexus. Policy implications are discussed. …

Persistent link: https://www.econbiz.de/10010693294

Finance and Inequality: Exploring Pro-Poor Investment Channels in Africa

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2011

Hitherto very few studies on the inequality-finance(investment) nexus have focused on the African continent owing to … how finance affects pro-poor investment channels. Findings reveal, but for the case of foreign investment, financial …

Persistent link: https://www.econbiz.de/10010693302

A Short-run Schumpeterian Trip to Embryonic African Monetary Zones

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2012

With the spectre of the Euro crisis looming substantially large and scaring potential monetary unions, this study is a short-run trip to embryonic African monetary zones to assess the Schumpeterian thesis for positive spillovers of financial services on growth. Causality analysis is performed...

Persistent link: https://www.econbiz.de/10010696005

On the substitution of institutions and finance in investment

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2014

The Ali (2013, EB) findings on the nexuses among institutions, finance and investment could have an important influence … finance and institutions because they are less realistic to developing countries to which the resulting policy implications … substitution of institutions and finance in investment. Results under many baseline and augmented scenarios are not consistent with …

Persistent link: https://www.econbiz.de/10010775522

On the role of the estimation error in prediction of expected shortfall

Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2012

In the estimation of risk measures such as Value at Risk and Expected shortfall relatively short estimation windows are typically used rendering the estimation error a possibly non-negligible component. In this paper we build upon previous results for the Value at Risk and discuss how the...

Persistent link: https://www.econbiz.de/10010564003

Uncertainty of Multiple Period Risk Measures

Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2009

In general, the properties of the conditional distribution of multiple period returns do not follow easily from the one-period data generating process. This renders computation of Value-at-Risk and Expected Shortfall for multiple period returns a non-trivial task. In this paper we consider some...

Persistent link: https://www.econbiz.de/10005198007

A Corrected Value-at-Risk Predictor

Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2008

In this note it is argued that the estimation error in Value-at-Risk predictors gives rise to underestimation of portfolio risk. We propose a simple correction and find in an empirical illustration that it is economically relevant.

Persistent link: https://www.econbiz.de/10005651967

Law and Finance in Africa

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2011

This paper assesses how legal origin influences financial development through regulation quality and the rule of law. It employs all the dimensions identified by the Financial Development and Structure Database of the World Bank. The law channels are instrumented with legal origins to account...

Persistent link: https://www.econbiz.de/10010693282

Law, Finance and Investment: does legal origin matter in Africa?

Asongu, Asongu Simplice - African Governance and Development Institute (AGDI) - 2011

intermediary channels of depth, efficiency, activity and size. The findings show that legal origin matters in the finance …

Persistent link: https://www.econbiz.de/10010693289