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Center for Research in Finance and Management (CeReFiM)

The CeReFiM studies issues of finance and macroeconomics. In recent years, several research programs have been conducted on specific topics such as complex financial systems, sustainable finance and systemic risk in the mutual fund industry. In most cases, research questions are approached from an empirical perspective using modern econometric techniques. Currently, CeReFiM consists of a balanced group of senior and junior members who work in close collaboration with each other, as well as with academics and financial practitioners from numerous universities and financial institutions in Belgium and abroad.
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The theses

Theses in progress AGBA Komlan (CeReFiM) | Thesis title: Essays in international Finance (Supervisor: GNABO Jean-Yves; Co-supervisor: BENANNI Hamza) ALVAREZ Pablo (CRED) | Thesis title: Essays on development economics with a focus on gender inequality (Supervisor: GUIRKINGER Catherine) ALVAREZ Pablo (CRED) | Thesis title: Essays on development economics with a focus on gender inequality (Supervisor: GUIRKINGER Catherine) AYACHI Syrine (CeReFiM) | Thesis title: Essays on green bonds BARAKA KUSINZA Doux (CRED) | Thesis title: Essays in gender economics (Supervisor: GUIRKINGER Catherine)DEBROISE Auguste (CERPE) | Thesis title: Essays on behavioral political economicsERNAELSTEEN Christophe (CERPE) | Thesis title: Essays in public economics and regional competitiveness (Supervisor: DEJARDIN Marcus) FERRONI Giorgio (CERPE) | Thesis title: Essays on platforms and sharing economy (Supervisor: TOULEMONDE Éric)GUEBEN Marine (CRED) | Thesis title: To Be AnnouncedJOLIVET Anna (CRED) | Thesis title: Essays in development economics and household decision-making (Supervisor: GUIRKINGER Catherine)LÜLLE Angela (CRED) | Thesis title: Essays in Development EconomicsMOHAMED SULIMAN Ammar (CeReFiM) | Thesis title: To Be AnnouncedPEREZ RIAZA Baptiste (CeReFiM) | Thesis title: Essays on Crypto-assets and financial stability (Supervisor: GNABO Jean-Yves)RENK Andréa (CRED) | Thesis title: Essays on institutional change in India and Nepal (Supervisor: BALAND Jean-Marie)RICHARD Quentin (CRED) | Thesis title: Intergenerational transmission of life expectancy (Supervisor: GUIRKINGER Catherine ; Co-supervisor: BALAND Jean-Marie)SCHRAVERUS Louise (CeReFiM) | Thesis title: Three essays on Sovereign Wealth Funds SOUDANT Joey (CeReFiM) | Thesis title: Applications of complex systems in macro-finance topicsTCHINDA Charlie (CERPE) | Thesis title: Essays in the economics of self-employment (Supervisor: DEJARDIN Marcus) Past theses All theses completed in the last five academic years.2022-2023BAILY Camille: Climate Change: Impact and Challenges for the Financial SystemBHARTI Nitin: Essays on Socio-Economic Inequality and Development in India and China: A Historical & Institutional PerspectiveFARÈ Luca: Entrepreneurship, Small Businesses' Innovation and ContextsLEDRU François-Xavier: On the financial attributes of impact investments and the behavior of socially minded agentsMANUEL Clarice: Essays on women empowerment and norms in developing countries: the case of Nepal and the PhilippinesWOITRIN François: Three Essays on Mechanism Design and Family Economics2021-2022BEQUET Ludovic: Essays on agricultural productivity and intrahousehold dynamics in the PhilippinesKITUMBA Guylord: Coping strategies by microentrepreneurs in Kinshasa2020-2021DAYE Modeste: Essays in Development Economics: On Agents' Prosocial and Financial Behaviors. Supervisors: Profs. Romain Houssa and Paul Reding.2019-2020MICHELS Anne: Migration and Bequest Decisions: Theory and Evidence from the Bolivian Altiplano. Supervisor: Prof. Jean-Philippe Platteau.VANHOMWEGEN Henri: Distinctives Strategies in the Equity Mutual Funds Industry. Supervisors: Profs. Jean-Yves Gnabo and Oscar Bernal.2018-2019MOHIMONT Jolan: Business Cycles and Monetary Policy in a Small Open Emerging Economy. Supervisor: Prof. Romain Houssa.LAURENT Hélène: Essays in Public and Entrepreneurship Economics: Taxation and Corruption. Supervisor: Prof. Marcus Dejardin.HUBERT Olivier: Heterogeneous Effects of Fiscal Policy on Sovereign Yields. Supervisor: Prof. Romain Houssa.GROSS Jérémie: Individual and Family Behavior in Poor Households: Evidence from Semi-Arid Burkina Faso. Supervisors: Profs. Catherine Guirginger and Jean-Philippe Platteau.DELMEZ Françoise: Jobless Recoveries: No Jobs for the Unemployed, Longer Hours for Workers? Supervisor: Prof. Alain de Crombrugghe.2017-2018DAHLQVIST Carl-Henrik: Essays in Econophysics and Applied Econometrics: Modeling Complexity in Finance. Supervisors: Profs. Jean-Yves Gnabo and Sophie Béreau.SCHOLTES Nicolas: Interbank Networks and Financial Stability. Supervisors: Profs. Jean-Yves Gnabo and Sophie Béreau.2016-2017GONNE Nicolas: Consequences of Firm-Level Heterogeneity for Corporate Financial and Tax Policy. Supervisor: Prof. Eric Toulemonde.SIMILON Astrid: Essays on the Economics of Nonprofits and Philanthropy. Supervisor: Prof. Gani Aldashev.MERGESA Kelbesa: Government Finances and Financial Shocks in Developing Economies. Supervisor: Prof. Romain Houssa.GERACI Marco: Essays on Complexity in the Financial System. Supervisors: Profs. Jean-Yves Gnabo and Davy Paindaveine.
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Working documents

Following are links to working papers from the DeFiPP Research Institute. This series of working papers was launched in September 2021.
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Contact

Below is a list of contacts according to your request.
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Article

Is watching gaming gaming? Twitch and the video game revolution

A lifelong video game enthusiast, Fanny Barnabé, a researcher at the CRIDS research center (Namur Digital Institute) and lecturer at the University of Namur, explores behind the scenes of a major cultural phenomenon: video game streaming on Twitch. Between humor, irony and toxic discourse, she deciphers the issues at stake in a digital space in the throes of change.
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The Master's degree specializing in sustainable development management and economics: a program rooted in contemporary issues

For more than 30 years, the Department of Flexible Scheduling at the Faculty of Economics, Management, Communication, and Political Science (EMCP) at the University of Namur has been helping adults returning to school to acquire new skills. In 2023, the Department launched a brand-new program: a Master's degree specializing in sustainable development management and economics. This one-year program addresses environmental and societal challenges by training professionals to support the ecological and economic transition. 
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Economy: Why Are More African Women Converting to New Christian Churches?

New Christian churches are experiencing spectacular growth, particularly in Africa. While they are attracting a growing number of followers, it is notable that women are joining them far more often than men. Catherine Guirkinger, a professor and researcher in development economics, examines this gendered phenomenon of religious conversion and the economic mechanisms underlying it. This original research has just received prestigious WelCHANGE funding through the 2025 call for proposals from the F.R.S-FNRS. 
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EMCP Faculty: three researchers receive awards - #1 Floriane Goosse receives double award for her research with societal impact

The NaDI-CeRCLe research center has distinguished itself brilliantly on the international scene in recent weeks. Three young researchers from the EMCP Faculty have received prestigious recognition at leading international events for their research in service management: they are Floriane Goosse, Victor Sluÿters and Florence Nizette. This summer, let's discover the work of these PhD students and their significant contributions to the advancement of knowledge and practice in this field.
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Event

Study Day - Tourism in the face of climate change: between risks and opportunities

The morning will be devoted to presenting the detailed results of the study and putting them into perspective in the broader context of current economic, social, and environmental issues.The afternoon will give the floor to stakeholders in the field through testimonials and round tables, illustrating how the tourism sector is adapting to the challenges posed by climate change. Registration and detailed program here: Walloon tourism in the face of climate change: between risks and opportunities (January 26, 2026): Home · UNamur Event (Indico) 
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A prestigious FNRS prize in the social sciences for Professor Jean-Marie Baland

The FNRS has awarded the five-year Ernest-John Solvay Prize in the Social Sciences to Jean-Marie Baland, Professor in the Department of Economics at UNamur's EMCP Faculty and co-founder of the DeFiPP Institute's Centre de Recherche en Economie du Développement (CRED). A major accolade for a career devoted to the study of poverty, informal institutions and sustainable development..
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UNamur joins ERCIS, Europe's leading information systems network

The University of Namur takes another step forward in its commitment to supporting digital transformation. It is joining the prestigious European Research Center for Information Systems (ERCIS) network as a Partner Institution, via the MINDIT research center (Management de l'Information et Transformation Numérique).
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Event

REHNam Conference | "Truth" in the digital age: between combating information manipulation and protecting quality information?

In recent years, public debate has been regularly disrupted by various attempts to distort "information." While this phenomenon is as old as information itself, digital technology, the powerful interactivity offered by online platforms, and recent developments in generative artificial intelligence have given it a whole new dimension. Manipulated online information spreads virally, reaching internet users around the world in a matter of minutes. It poses serious risks to society and threatens democracy and the rule of law. To see this, one need only recall events such as the US and French presidential elections, the Covid-19 pandemic, the war in Ukraine, the terrorist attack at the Nova festival in 2023, and the war in Gaza.  Faced with this phenomenon, actors from all sectors have been mobilizing for several years. This conference offers a legal perspective on the manipulation of online information in relation to freedom of expression and the right to information from the point of view of European law. It focuses, on the one hand, on the response of the European Union legislator to combat online disinformation and, on the other hand, on mechanisms for protecting "quality" information.Free admission.
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