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A Short-run Schumpeterian Trip to Embryonic African Monetary Zones

Asongu, Simplice A - In: Economics Bulletin 33 (2013) 1, pp. 859-873

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/10010835849

On the substitution of institutions and finance in investment

Asongu, Simplice A - In: Economics Bulletin 34 (2014) 3, pp. 1557-1574

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/10010800841

Liberalization and financial sector competition: a critical contribution to the empirics with an African assessment

Asongu, Simplice A - Volkswirtschaftliche Fakultät, … - 2013

This paper investigates how financial, trade, institutional and political liberalization policies have affected financial sector competition in Africa using updated data to appraise second generation reforms. The ‘freedom to trade’ and ‘economic freedom’ indices are employed. Hitherto,...

Persistent link: https://www.econbiz.de/10011258662

How would monetary policy matter in the proposed African monetary unions? Evidence from output and prices

Asongu, Simplice A - Volkswirtschaftliche Fakultät, … - 2013

We analyze the effects of monetary policy on economic activity in the proposed African monetary unions. Findings broadly show that: (1) but for financial efficiency in the EAMZ, monetary policy variables affect output neither in the short-run nor in the long-term and; (2) with the exception of...

Persistent link: https://www.econbiz.de/10011260860

Does Money Matter in Africa? New Empirics on Long- and Short-run Effects of Monetary Policy on Output and Prices

Asongu, Simplice A - Volkswirtschaftliche Fakultät, … - 2013

Purpose – While in developed economies, changes in monetary policy affect real economic activity in the short-run but only prices in the long-run, the question of whether these tendencies apply to developing countries remains open to debate. In this paper, we examine the effects of monetary...

Persistent link: https://www.econbiz.de/10011257834

New Empirics of monetary policy dynamics: evidence from the CFA franc zones

Asongu, Simplice A - Volkswirtschaftliche Fakultät, … - 2013

Purpose – A major lesson of the EMU crisis is that serious disequilibria in a monetary union result from arrangements not designed to be robust to a variety of shocks. With the specter of this crisis looming substantially and scarring existing monetary zones, the present study has complemented...

Persistent link: https://www.econbiz.de/10011258206