Agri-environment schemes (AES) have been an important policy tool within the EU for over 15 years and are viewed as a central element of the Rural Development Regulation (RDR) in seeking to secure certain environmental public goods. Currently, AES tend to be action-based rather than...

An importexceeds a "normal" level. This paper identifies various internal and external factors that can contribute to the emergence of agricultural import surges in developing countries and discusses their relevance. External factors play a rather minor role. Internal policies, whether carried...

Since the late 1980s slogans like ‘use it or lose it’ or ‘conservation through sustainable use’ emphasized the economic use of wildlife for conservation and rural development. In addition, a stronger involvement of local communities instead of displacement and curtailing of their access...

Die internationale Gemeinschaft unternimmt seit Jahren erhebliche Anstrengungen, umEntwicklungs- und Schwellenländer auf einen stabilen Wachstumspfad zu führen. Dabei istman zunehmend zu der Erkenntnis gelangt, dass ein wesentlicher Schwerpunkt der Entwicklungszusammenarbeitauf die...

Der Cost Average-Effekt gehört gewissermaßen zum Investment-Basiswissen ...

Betrachtet man das Anlageverhalten deutscher Kapitalanleger, so kanndieses durch eine ausgeprägte Risikoscheu bzw. den Wunsch nach Sicherheitcharakterisiert werden. Ausdruck findet das Sicherheitsstrebendarin, daß nur 20% des Gesamtvermögens der privaten deutschen Haushaltein Wertpapieren...

This paper examines problems in the CRSP Survivor Bias Free U.S. Mutual Fund Database (CRSP, 1998) and compares returns contained in it to those in Morningstar. The CRSP database has an omission bias that has the same effects as survivorship bias. Although all mutual funds are listed in CRSP,...

This paper offers a comprehensive study of survivorship issues, in the context of mutual fund research, using the mutual fund data set of Carhart (1997). We find that funds in our sample disappear primarily because of multi-year poor performance.(...)

This paper demonstrates that an an institutional feature inherent in a multitude of mutual funds managing billions in assets generates fund NAVs that reflect stale prices. Since, in many cases, investors can trade at these NAVs with little or no transactions costs, there is an obvious trading...