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In this paper, we analysed the effect of real economic variables in the mutual fund flows assuming that they are the first drivers for a change in the investor behaviour, we tried to replicate some regressions models from the literature and create a new customised ones to serve the purpose of the project thesis.
In parallel, we know that mutual funds are grouped into different categories based on assets with different levels of risk perception (e.g. equity fund, fixed income fund, money market fund) so we tried to create separate models for each category in order to get a better all-around view of the problem.
We made some conclusions regarding the retail investors’ behaviour towards mutual fund industry according to the thesis framework. Hoping that the implementation of the models will be of a great help to the company.

Retail, Fund Flows, OLS regression, Risk aversion --- Sciences économiques & de gestion > Finance

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Interventions in highly insecure and fragile contexts are always confronted with the latent risk of not being able to implement the program as intended. Despite its high policy relevance, little is known about the impacts of program disruption or cancellation on beneficiaries. This study uses the unplanned cancellation of the South Sudan Youth Business Start-Up Grant Program to assess the socioeconomic, behavioral, and psychological consequences of a program that fails to be implemented as intended. Originally planned as a randomized trial, the Youth Startup Business Grant Program consisted of an unconditional cash grant combined with a business and life skills training targeting the youth in South Sudan. Due to the intensification of violence in the country, the disbursement of the grant was terminated in late 2016 before most of the intended beneficiaries had accessed the grant. The study uses survey data from face-to-face interviews and experimental data from lotteries, trust games, and a list experiment to assess the consequences of the cancellation in a comprehensive form. The empirical analysis employs instrumental variable regressions to control for individual characteristics that might have made it more likely to access the grant before disbursement was frozen. The results show that participants who received the originally planned treatment displayed significant improvements in their consumption, savings, and psychological well-being. However, participants who vainly expected to receive the cash grant showed reduced levels of consumption and women among this subgroup also experienced strong reductions in their trust level. In addition, the study finds some evidence that these women were less likely to migrate.

Cash Transfers --- Impact Evaluation --- Poverty Reduction --- Risk Aversion --- Services and Transfers to Poor --- Social Protections and Assistance --- Social Protections and Labor --- Trust --- Violent Conflict

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Gerbils (Meriones unguiculatus) were allowed to forage during four periods in an environment that contained three bowls; one with sand, the second with 30 sunflower seeds mixed with sand, and the third with just seeds (during period 1) or 250 seeds mixed with sand (during periods 2, 3 and 4). During periods 1 and 2 the animals ate approximately 24 seeds from the 30 bowl. The behavior of working for food while "free food" is present was not influenced by whether or not that food really was "free" or if it was just a question of the amount of work required. During all three stable treatments (1, 2, and 4) the animals began by eating for about 15 min from the 30 bowl and only later changed over to the richest bowl. The big difference in behavior occurred in treatment 3 when the location of the bowls was changed. The animals took significantly less seeds from the 30 bowl (11 seeds), and no pattern like that from 1, 2, and 4 could be found. It is probable that the change in behavior between period 2 and 3 was elicited by the change in certainty of food resources. As the world became more uncertain the animals reduced the explorative part of their behavior and incrased the exploitative part, i.e. they came closer to being short term maximizers. Treatment 4 was equal to treatment 2 and done to control for any learning effects. No such effects were found

Animal. --- Animals. --- Behavior. --- Boxes. --- Control. --- Environment. --- Food. --- Forage. --- Foraging preferences. --- Gerbil. --- Gerbils. --- Great tits. --- Learning. --- Meriones unguiculatus. --- Meriones-unguiculatus. --- Mongolian gerbil. --- Mongolian-gerbil. --- Optimal prey selection. --- Pattern. --- Periods. --- Resources. --- Risk-aversion. --- Theory. --- Time. --- Treatment. --- Unguiculatus. --- Work.

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March 2000 - Policies to foster accumulation of the assets needed for agricultural production (including draft animals and implements) and to provide complementary public goods (education, credit, and good agricultural extension services) could greatly help reduce poverty and improve productivity in Zambia. Deininger and Olinto use a large panel data set from Zambia to examine factors that could explain the relatively lackluster performance of the country's agricultural sector after liberalization. Zambia's liberalization significantly opened the economy but failed to alter the structure of production or help realize efficiency gains. They reach two main conclusions. First, not owning productive assets (in Zambia, draft animals and implements) limits improvements in agricultural productivity and household welfare. Owning oxen increases income directly, allows farmers to till their fields efficiently when rain is delayed, increases the area cultivated, and improves access to credit and fertilizer markets. Second, the authors reject the hypothesis that the application of fertilizer is unprofitable because of high input prices. Rather, fertilizer use appears to have declined because of constraints on supplies, which government intervention exacerbated instead of alleviating. (Extending the use of fertilizer to the many producers not currently using it would be profitable, but increasing the amount applied by the few producers who now have access to it would not be.) Policies to foster accumulation of the assets needed for agricultural production (including draft animals and implements) and to provide complementary public goods (education, credit, and good agricultural extension services) could greatly help reduce poverty and improve productivity. This paper - a product of Rural Development, Development Research Group - is part of a larger effort in the group to analyze determinants of rural growth and market participation. The authors may be contacted at kdeininger@worldbank.org or polinto@worldbank.org.

Cred Demand --- Economic Theory and Research --- Exports --- Finance and Financial Sector Development --- Financial Literacy --- Fiscal Policies --- GDP --- Goods --- Inputs --- Labor Policies --- Macro-Economic Policies --- Macroeconomics and Economic Growth --- Markets --- Markets and Market Access --- Overvalued Exchange Rates --- Ownership --- Prices --- Production --- Production Function --- Productive Assets --- Productivity --- Risk Aversion --- Social Protections and Labor --- Subsidies --- Total Factor Productivity --- Welfare

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Jim Yong Kim, President of the World Bank Group, discusses the two goals that shape the mission of the World Bank Group: ending extreme poverty by 2030 and boosting shared prosperity. He speaks the need to accelerate a kind of economic growth that's more inclusive, socially sustainable, and protects the environment. He talks about climate change. The frequency, intensity, and duration of extreme climatic events will increase. Droughts, earthquakes, and typhoons will only become worse in the future. He appreciates Japan's focus on doing things before a disaster strikes, as it saves lives and money. He talks about working to refocus developing countries on prevention and preparedness when it comes to disaster risk management. He commends Japan that has been supportive of the World Bank Group's efforts to make innovative financing mechanisms available to governments of developing countries. He appreciates Japan's contribution towards Ebola crisis. He concludes by saying that the Japan's accumulated wisdom has shown the world that taking the proper precautions can save thousands of lives as well as billions of dollars in lost economic growth.

Catastrophe Insurance --- Climate --- Climate Change --- Climate Change Economics --- Conflict and Development --- Disaster Management --- Disasters --- Droughts --- Early Warning Systems --- Earthquakes --- Environment --- Finance --- Financial Institutions --- Hazard Risk Management --- Health --- Hurricanes --- Insurance --- Insurance Industry --- Knowledge --- Macroeconomics and Economic Growth --- Natural Disasters --- Pandemics --- Poverty Reduction --- Prevention --- Public Health --- Risk Aversion --- Risk Management --- Urban Development --- Workers --- World Health Organization