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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Inclusive human development in pre-crisis times of globalization-driven debts
Authors:Asongu, SimpliceISNI
Efobi, UchennaISNI
Beecroft, Ibukun
Periodical:African Development Review (ISSN 1467-8268)
Geographic term:Africa
Subjects:public debt
external debt
economic inequality
External link:https://doi.org/10.1111/1467-8268.12158
Abstract:The article veri?es 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. The authors assess the effects of four debt dynamics on Inequality Adjusted Human Development. Instrumental variable and interactive regressions are employed as empirical strategies. Two main?ndings are established which depend on whether debt is endogenous to or interactive with globalization. First, when external debt is endogenous to globalization, the effect on inclusive human development is negative, whereas when it is interactive with globalization, the effect is positive. This may re?ect the false economics of preconditions. The magnitudes of negative estimates from endogenous related effects were higher than the positive marginal interactive effects. Policy implications are discussed in light of the post-2015 development agenda. Bibliogr., notes, sum. [Journal abstract]