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on Africa |
| By: | Asongu, Simplice; Nwachukwu, Jacinta; Tchamyou, Vanessa |
| Abstract: | We examine policy thresholds of information sharing for financial development in 53 African countries for the period 2004-2011. Public credit registries (PCR) and private credit bureaus (PCB) are used as proxies for reducing information asymmetry whereas financial development includes all financial dimensions identified by the Financial Development and Structure Database (FDSD) of the World Bank, namely: depth, efficiency, activity and size. The empirical evidence is based on interactive Generalised Methods of Moments with forward orthogonal deviations. The following findings are established. First, PCR and PCB have negative effects on financial depth, with the magnitude of the former higher. Second, contrary to PCR which have insignificant effects, PCB has a negative impact on banking system efficiency. Third, PCR and PCB have negative impacts on financial activity, with the magnitude of the latter higher. Moreover, their marginal effects are negative. Fourth, PCR and PCB have positive effects on financial size, with the effect of the former higher. While marginal effects are positive, corresponding thresholds are not within range. Policy implications are discussed. |
| Keywords: | Information Asymmetry; Financial Development |
| JEL: | G20 G29 O16 O55 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:68315&r=afr |
| By: | Kodila-Tedika, Oasis; Asongu, Simplice |
| Abstract: | Do women really improve conditions for gender equality after becoming heads of states? This study investigates if having a woman at the helm of country’s decision making processes leads to better indicators on women conditions. Using time series observations for the period 2000-2011, we test the hypothesis with the Liberian experience. Our findings do not show significant changes between the first mandate of Ellen Johnson Sirleaf and the period before. Policy implications are discussed. |
| Keywords: | Gender; Female politicians; Institutions; Africa; Liberia; Ellen J. Sirleaf. |
| JEL: | J16 O15 O17 O55 P48 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:68311&r=afr |
| By: | Machava, Agostinho (Department of Economics, Umeå University); Brännäs, Kurt (Department of Economics, Umeå University) |
| Abstract: | While there is a relatively large empirical literature on the link between monetary policy and yield curve for developed economies, studies on emerging and developing economies are very rare. This paper contributes to reducing this gap by studying the effectiveness of monetary policy in Mozambique. Using monthly data it examines the pass-through of changes in the policy rate to the yield curve of treasury bills in the period 2006 - 2015. The main finding is that there is a pass-through from policy rate to treasury bill. However, the transmission from short to long term maturities in the yield curve is weak and slow. |
| Keywords: | Mozambique; Factor model; Policy rate; Effect; Estimation |
| JEL: | C32 C51 C58 E43 G20 |
| Date: | 2015–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:umnees:0918&r=afr |