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The Pacific islands face the highest disaster risk globally in per capita terms. Countries in the region have been affected by several recent catastrophic events, as well as by frequent natural hazards of smaller magnitude. The purpose of this paper is to quantify total disaster risk faced by Pacific island countries (PICs).

The paper evaluates the three main sources of data for quantifying risk in the region—the International Emergency Database (EMDAT), DesInventar and the Pacific Catastrophe Risk Assessment and Financing Initiative, evaluating the information available on indirect disaster impacts and their likely impacts on poverty and well-being.

The analysis suggests that the three available data sets contain inconsistencies and underestimate disaster risk, especially for atoll nations. It also identifies four trends with respect to changes in natural hazards that result from climate change and are likely to have the greatest long-term impact on Pacific islands. Focusing on Tuvalu, the paper also quantifies the likely consequence of some of the possible interventions that aim to reduce those impacts.

The paper’s main conclusion is that improving the systematic collection of quantitative data on disaster events should be a basic first step in improving future policy decisions concerning resource allocation and efforts to insure losses from future disasters and climate change.

While a lot of research explored disaster risk in PICs, comparative analysis of quantitative information on disasters across the diverse countries of the region is limited.

Recognising that different property sectors have distinct risk-return characteristics, this paper assesses whether changes in the level and volatility of short- and long-term interest rates differentially affected excess returns of sector-specific Real Estate Investment Trusts (REITs) in the Pacific Rim region between July 2006 and December 2018. The strategic property risk management implications for sector-specific REITs are also identified.

Daily excess returns between July 2006 and December 2018 are used to analyse the sensitivity in the level and volatility of interest rates for REITs among office, retail, industrial, residential and specialty REITs across the USA, Japan, Australia and Singapore. The generalised autoregressive conditionally heteroskedastic in the mean (GARCH-M) methodology is employed to assess the linkage between interest rates and excess returns of sector-specific REITs.

Compared with diversified REITs, sector-specific REITs were less sensitive to short- and long-term interest rate changes across the USA, Japan, Australia and Singapore between July 2006 and December 2018. Of sector-specific REITs, retail and residential REITs were susceptible to interest rate movements over the full study period. On the other hand, office and specialty REITs were generally less sensitive to changes in the level and volatility of short- and long-term interest rate series across all markets in the Pacific Rim region. However, the interest rate sensitivity of industrial REITs was somewhat mixed. This sector was sensitive to interest rate movements, but no comparable evidence was found since the onset of GFC.

The insignificant exposure to interest rate risk of sector-specific REITs may imply that they have a stronger interest rate risk aversion and greater hedging benefits than their diversified counterparts, particularly for office and specialty REITs. The results support the existence of REIT specialisation value in the Pacific Rim region from the interest rate risk management perspective. This is particularly valuable to international property investors constructing and managing portfolios with REITs in the region. Property investors are advised to be aware of the disparities in the magnitude and direction of sensitivity to the interest rate level and volatility of REITs across different property sectors and various markets in the Pacific Rim region. This study is expected to enhance property investors' understanding of interest rate risk management for different property types of REITs in local, regional and international investment portfolios.

The study is the first to assess the interest rate sensitivity of REITs across different property sectors and various markets in the Pacific Rim region. More importantly, this is the first paper to offer empirical evidence on the existence of specialisation value in the Pacific Rim REIT markets from the aspect of interest rate sensitivity. This research may enhance property investors' understanding of the varying interest rate sensitivity of different property types of REITs across the USA, Japan, Australia and Singapore.

The purpose of the paper is to advance understanding for the nature and essence of Asia Pacific multinational enterprises' (MNEs) knowledge‐related competitiveness in the Balkans.

A questionnaire‐based survey was carried out in 56 Asia Pacific MNEs located in the Balkans. By using descriptive statistics the extent of technology centralization is identified, the sources of technology MNEs use in their operations and the essence and roles of decentralized research and development (R&D) departments are evaluated.

Technological demand‐side influences and the traditional centripetal forces in Asia Pacific MNEs are still quite strong. Among all countries under investigation, only in Greece and Slovenia are signs found of some original product development work and creative activities.

In order to have a better understanding for knowledge‐related competitiveness of Asia Pacific MNEs in the Balkans regional economic and labor conditions, more sophisticated industry characteristics and the strategic orientation of MNEs towards the region should also be considered.

A useful source of information for academics, business people and local governments that seek to promote value added investments in their countries.

This paper fulfils an identified gap in the literature by investigating MNEs' technology strategies in an EU peripheral region. To the extent of one's knowledge there are no relevant studies that survey the extent of technology (de)centralization of Asia Pacific MNEs in the Balkan countries from the perspective of empirical reality.

During the last few decades, rising intra-regional volumes of trade as well as air passenger traffic have been key characteristics of Asia-Pacific’s economic development. Although conceptual and empirical linkages between rising levels of trade and air passenger flows are often assumed, relatively little is known about the potential causality in these parallels. In this chapter, we seek to empirically uncover this causality through the application of heterogeneous Time Series Cross Section Granger causality analysis for the period 1980–2010. Four scenarios are found amongst the different country-pairs: (1) there is no co-evolution, implying that both patterns develop independently (e.g. Japan–Australia); (2) there is ‘real’ co-evolution in that both patterns influence each other through feedback loops (e.g. South Korea–Philippines); (3) air passenger traffic is facilitated by trade (e.g., South Korea–Philippines); or (4) trade is facilitated by air passenger traffic (e.g. Australia–Malaysia). Some possible interpretations of this heterogeneity are discussed.

By the year 2000, it is estimated that Asian economies will control over 40 per cent of the world′s trade. In this context, the trading developments and relationships in the Asia‐Pacific region are examined and forecast growth patterns are discussed.

This paper investigates the extent to which U.S. trade policies during 1922–1962 impacted the Pacific Rim economies differently from the rest of the world. Empirical analysis demonstrates that U.S. trade with the Pacific Rim had consistently higher tariff barriers than U.S. trade with the rest of the world among import-competitive manufactures. This paper then analyzes the reasons behind this phenomenon from both a political economy and a historical perspective. On both fronts, the Pacific Rim was at a disadvantage, and its higher barrier to trade with the United States was by no means historically accidental.

Management development programmes (MDPs) are crucial to developing Pacific island countries. Programme designers must understand the region which comprises thousands of islands spread many miles apart. These countries are influenced by their history of colonial occupation and protection by the British, Germans and Americans. Fiji is unique, being an independent republic and the largest, wealthiest and most influential South Pacific country. Native languages are many, but English is commonly used throughout for government and business – except in French Polynesia. The native population is mainly Polynesian and Melanesian, with a significant minority being Micronesian. Each society has distinct customs, languages and behaviours modified by its national affiliation and geographical location. Early MDPs were modelled on western practices. In the 1990s, MDPs conform to the objectives of aid‐granting agencies, their content is oriented towards practical application of management skills, and instruction is conducted observing cultural behaviours and norms

Many countries in both the LAC region and Asia Pacific have large and growing foreign debts. Country risk ratios and the profile of foreign debts for the majority of these countries are near or exceed widely regarded warning thresholds. Chronic budget and funding problems regionwide, including massive infrastructure investment needs and rising social spending pressures, will lead to greater reliance on foreign borrowing. That will contribute to debt accumulation and rising debt‐servicing burdens. Economic slowdown, massive banking and financial sector restructuring, erosion of export competitiveness and declining foreign exchange reserves will increase the likelihood that these countries will be unable to fully meet their foreign debt‐servicing obligations. The risk of debt default will be greatly increased over the next decade. Mounting public criticism will make it tougher to arrange future international financial rescue packages, such as those extended to Mexico and Thailand, for cash‐strapped sovereigns. As Canada’s economic profile rises in emerging markets, greater monitoring of country risks is warranted.

Suggests that, with sound economic growth, a rising population and changing lifestyles, the Asia Pacific Rim offers an attractive trading environment for retailers and manufacturers. Reports that the trading environment in the region is somewhat diverse, so businesses wishing to take advantage of the opportunities on offer must have a flexible marketing approach which allows them to adapt to local needs. Considers a range of wider marketing environment factors which are shaping the trading conditions in the region. Provides case studies of retailer Yaohan, Hongkong Bank, manufacturer and retailer Giordano and food manufacturer Ajinomoto (which distributes its products from a wide range of outlets). Uses these to illustrate the impact of economic, political, cultural and demographic trends and to show how companies in the region are responding to these factors.

This paper explores the effect of tourism (national and international) indicators on income inequality in a sample of 21 Asia Pacific economies.

This study uses panel data set from 1995 to 2020 and employs panel autoregressive distributed lag (ARDL) method for the empirical investigation.

The empirical findings from the panel ARDL models suggest that all of the considered tourism indicators have significant negative impacts on income inequalities. The results remain consistent with alternative indicators and methods.

The findings of this study will be critical for the policymakers to take effective measures to reduce the income inequality. Such measures could include promoting tourism in general, focusing on attracting international tourists or domestic tourists, and putting more weight on developing leisure or business tourism, which will boost the overall economic performance and alleviates inequalities in the society.

This is the first study to consider various forms of tourism indicators to see their impact on income inequality in the Asia–Pacific region, and offers important implications for the policy actions.