Economy
Resource management for Sustainable Development of Island Economies
What is the role of resource management in sustaining competitiveness for island economies such as the Republic of the Philippines and Hawaii? We review the history of thought on sustainable resource management and sustainable development and then turn to the threats to sustainability from the resource curse and the parallel curse of paradise. We show how the resource curse […]
Read MoreHawai’i Quarterly Forecast Update: A Hard Fall for Hawai’i Tourism
The U.S. downturn and record-high oil prices have taken a big bite out of the Hawai’i tourism industry. Visitor arrivals will tumble 9% this year, the biggest annual decline since 2001. Because of deteriorating conditions for the U.S., Japanese and global economies, we now believe that a visitor industry recovery will not begin until 2010. […]
Read MoreQuarterly Hawai’i Forecast Update: Oil Surge Fuels Inflation, Threatens Deeper Downturn
Prospects for the Hawai’i economy have worsened significantly since our March Annual Hawai’i Forecast. The failures of ATA and Aloha airlines, the loss of a second NCL cruise ship, and the dramatic surge in oil prices will damage a local economy that was already feeling the effects of the national downturn.
Read MoreCounty Economic Forecast: Zero Growth Expected Statewide
To varying degrees, each of the four counties has shared in the state’s broad pattern of slowing over the past several years, a process that became more pronounced in 2007. This synchronized slowing is no mistake, reflecting broad statewide—and even global—slowing trends in construction, visitor spending and overall economic activity. There are similarly common adverse […]
Read MoreFinancial Integration in the Pacific Basin Region: RIP by PANIC Attack?
We exploit advances in panel data econometrics to test whether real interest parity holds in the Pacific Basin region. We test for a unit root in the difference between either the US, Japanese or Euro area real interest rate and the real interest rates from a panel of eleven Pacific Basin economies. Unlike extant studies […]
Read MoreUHERO Sponsors Hawai’i Economic Conference: “Housing, Development and Hawaii’s Economic Outlook”
UHERO is partnering with the Bank of Hawaii, the State Department of Business, Economic Development, and Tourism, and the Hawai’i Economic Association to present an exciting conference on April 25, 2008. Conference topics include a lunch time keynote by the Honorable Linda Lingle, Governor of the State of Hawaii, and sessions on Alternative visions for […]
Read MoreAnnual Hawai’i Forecast: Economy Grinds to a Halt
The Hawai’i economy that powered its way through much of this decade slowed to a standstill in 2007. The drag from a weakening visitor industry and an unwinding construction cycle spread to the broader economy. A U.S. recession is now underway. The mainland slump, national credit market problems, and soft local fundamentals mean there will […]
Read MoreHawai’i Construction Forecast Update: Slow Decline But No Contracting Crunch
While the external environment has become decidedly more risky since last fall, this forecast makes only a small downward revision to the forecast path. Construction employment and income will slow to very small positive gains this year, before turning negative in 2009. Some downward drift in home prices will occur, but Hawai’i will avoid the […]
Read MoreRiding the Wave: Transformations and Cycles in the Hawaii Economy
Dr. Bonham, UHERO’s executive director will give the Plenary Address at the Western Regional Science Association’s 47th Annual Meeting in Kona on Sunday February 17th. The meetings are being held at the Hilton Waikoloa Village Resort February 17th through the 20th, and will include presentations by UHERO research associates Dr. Denise Konan on the effects […]
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