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英文文献：Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa-自由化的新模式，银行的回归和非洲的不确定性
英文文献作者：Simplice Anutechia Asongu
英文文献摘要：
This chapter complements exiting African liberalization literature by providing fresh patterns of two main areas. First, it assesses whether African banking institutions have benefited from liberalization policies in terms of bank returns. Second, it models bank return and return uncertainty in the context of openness policies to examine fresh patterns for the feasibility of common policy initiatives. The empirical evidence is based on 28 African countries for the period 1999-2010. Varying non-overlapping intervals and autoregressive orders are employed for robustness purposes. The findings show that, while trade openness has increased bank returns and return uncertainties, financial openness and institutional liberalization have decreased bank returns and reduced return uncertainty respectively. But for some scanty evidence of convergence in return on equity, there is overwhelming absence of catch-up among sampled countries. Implications for regional integration and portfolio diversification are discussed.
本章通过提供两个主要领域的新模式来补充现有的非洲自由化文献。首先，它评估非洲银行机构是否从银行收益方面受益于自由化政策。第二，在开放政策的背景下建立银行收益和收益不确定性模型，以研究共同政策举措的可行性的新模式。经验证据是根据1999-2010年期间28个非洲国家得出的。变化的不重叠区间和自回归顺序被用于鲁棒目的。研究结果表明，贸易开放增加了银行收益和收益不确定性，而金融开放和制度自由化分别降低了银行收益和收益不确定性。但是，在一些很少的证据表明公平回报趋同的情况下，在抽样的国家中，几乎没有赶上的迹象。对区域一体化和投资组合多样化的影响进行了讨论。
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