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Inclusive human development in pre-crisis times of globalisation-driven debts

Simplice Asongu (), Uchenna Efobi () and Ibukun Beecroft

No 14/024, Working Papers from African Governance and Development Institute.

Abstract: The paper verifies the Azzimonti et al. (2014) conclusions on a sample of 53 African countries for the period 1996-2008. Authors of the underlying study have established theoretical underpinnings for a negative nexus between rising public debt and inequality in OECD nations. We assess the effects of four debt dynamics on inequality adjusted human development. Instrumental variable and interactive regressions were employed as empirical strategies. Two main findings were established which depend on whether debt is endogenous to or interactive with globalisation. First, when external debt is endogenous to globalisation, the effect on inclusive human development is negative, whereas when it is interactive with globalisation, the effect is positive. This may reflect the false economics of pre-conditions. The magnitudes of negative estimates from endogenous related effects were higher than the positive marginal interactive effects. Policy implications were discussed.

Keywords: Debts; globalisation; inequality; inclusive development; Africa (search for similar items in EconPapers)
JEL-codes: E60 F40 F59 D60 O55 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2014-12
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http://www.afridev.org/RePEc/agd/agd-wpaper/Inclus ... ion-driven-debts.pdf Revised version, 2014 (application/pdf)

Related works:
Journal Article: Inclusive Human Development in Pre-crisis Times of Globalization-driven Debts (2015) Downloads
Working Paper: Inclusive human development in pre-crisis times of globalisation-driven debts (2014) Downloads
Working Paper: Inclusive human development in pre-crisis times of globalisation-driven debts (2014) Downloads
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