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The purpose of this paper is to explain the effects of innovation, specialisation, qualifications and sectoral structure on the resilience of German regions (municipal level) facing the Great Recession in 2008/2009.

To calculate the effects of various variables on the resilience of German regions against the Great Recession, the authors use quantile regressions. To measure resilience, the authors create a number of indexes representing different parts of the economy: resistance performance index, recovery performance index, shift-share resistance index, shift-share recovery index, manufacturing resistance index, manufacturing recovery index, service resistance index and service recovery index.

The results of this study confirm that locations with employment growth before the crisis and with a good industry structure show better employment dynamics during and after the crisis. The authors find evidence for positive relationship between innovativeness, qualification, the share of the service sector, specialisation and resistance. The authors obtain positive results for related variety and both resistance and recovery. The share of the manufacturing sector only shows a positive relationship with recovery.

The authors expand the existing literature in three aspects: First, instead of using regions as observation units, the authors conduct the analyses on the basis of municipalities and their surroundings. By doing so, the authors reduce the modifiable area unit problem because the authors do not rely on regions defined for administrative reasons. Second, the authors apply quantile regressions to detect nonlinear effects. Third, in addition to the resilience of the whole economy, the authors also study the resilience of the manufacturing and service sectors separately and examine the resilience of the local shift effect.

Coronavirus Disease 2019 (COVID-19) is a pandemic with unique regional logistics management (RLM) challenges to respond to the chaos created by the crisis and to restore normality for operations and supply chains in home nations. The purpose of this article is to explore RLM in times of crisis from the perspective of public authorities responsible for combating the COVID-19 pandemic. The article also discusses the significance of crisis-driven RLM for humanitarian logistics and supply chain (HLSC) management.

Grounded on an inductive case study logic and guided by a constructivist perspective, this research involves semi-structured interviews with 15 managers and strategists responsible for the RLM of COVID-19 to capture lessons learnt so far from mitigating the transmission and spread of COVID-19. Underpinning the research is a conceptual RLM model premised on coordination, communication, and containment mechanisms (the 3Cs of crisis-driven logistics), as crisis response.

The study finds that the triggering of regional logistics in times of crisis for the COVID-19 case involves taskforce teams with centralisation for crisis readiness, information infrastructure with digitalisation for crisis protocols, and capacity calculations with orchestration for crisis scenarios. The study also finds that navigating the challenges for the 3Cs of crisis-driven logistics entails forward-thinking leadership for culture-based commitments, first-hand clarity for compliance-based campaigns, and far-reaching solidarity for compassion-based contributions.

This article addresses the gap in knowledge on RLM and potential priorities that underpin crisis-driven RLM strategies for HLSCs. The research is original in its argument for regional perspectives on logistics strategies that contribute to the “viability” and “integrity” of HLSCs. The research also uniquely focuses on RLM in times of crisis and proposes a conceptual RLM model of strategies for enhancing HLSCs.

This chapter examines how foreign banks respond to domestic monetary policy in host countries during crisis periods, in particular, the response shown toward the Asian financial crisis of 1997–1999 and the global financial crisis of 2008–2009. By observing 283 domestic and foreign banks in seven emerging Asian economies, we find that foreign banks are slower than domestic banks in adjusting the growth of their loans to changes in host monetary policy. This inertia by foreign banks is found to be more pronounced in the recent 2008–2009 global crisis than in the 1997–1999 Asian regional crisis, suggesting that the buffering/hampering effects of foreign banks on the effectiveness of the domestic monetary policy transmission mechanism become stronger in a recent global crisis originating from outside Asia than a regional crisis imploded within Asia a decade earlier. We also find that foreign banks’ lower sensitivity than domestic banks to host monetary policy during the crisis periods is heterogeneous, depending on factors such as the extent of the adverse impact of crises on parent banks, the scope of business operation by parent banks, and foreign banks’ mode of entry into host banking markets.

The purpose of this paper is to examine the nexus between Asian and the US short-term financing rates and compare them between pre- and post-Asian financial crisis.

The short-term financing rate is used in the estimation by employing two-stage cointegration test.

The result of the empirical study shows several outcomes; the short-term financing rates among the selected Asian countries are not highly correlated during pre-crisis period, but the rates become strongly associated during the post-crisis period. The US financing rate has significant influence on the Asian rate during both periods. Asian financing rates are not integrated by the influence of the USA, rather regional cooperation and financial initiatives lead the regional financing rate to be integrated.

The empirical finding of the study offers significant policy implications for strengthening regional economic bonding and developing the financial systems.

The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis.

The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and internationally during the period January 1992 through December 2005.

The authors find that credit spreads are related to market liquidity, best represented by total proceeds, ratings and the interaction between maturity and rating. The authors control for various crisis periods, including regional financial crises and find that spreads generally increased in response to the Asian Crisis with the international markets exhibiting the larger increases. There is mixed evidence of asymmetric effects of shocks. In the US loan markets, the adjustment factor reduces forecast variance (Θ1<0). In contrast, the adjustment factor is not significant for US bonds, possibly indicating a more rapid adjustment and greater efficiency in this market. The opposite effect is seen in the international loan and bond markets with Θ1>0, indicating a persistent increase in spread volatility.

The paper extends our understanding of the components of primary credit spreads and the interactions between primary debt markets during crisis periods.

COVID-19, like many previous crises, proved once more that some hospitality and tourism organizations are more crises resilient than others. Despite increasing frequency and magnitude of crises, little is known about the features of crises resilient organizations and mitigation strategies they adopt. If the characteristics of such resiliency are identified, those strengths might be targeted. Hence, the purpose of this study is to identify characteristics of crises resilient organizations by analyzing the interface between different organizational characteristics, recovery strategies they adopted and impacts of COVID-19 on individual hospitality and tourism organizations.

A global sample of 202 respondents from 20 countries and four continents, representing different sectors of the hospitality and tourism industry, participated in the survey. Descriptive analysis and cluster analysis were used to rank the items and group hospitality and tourism organizations based on their crises resiliency.

Service quality, loyal customers, branding, high paid in capital, domestic market base, hygiene and safety image, information and communication technology adoption, product and market diversification and restructuring debts emerged as major characteristics and strategies of crises resilient organizations. Using cluster analysis, four different groups of organizations were identified. Based on the impacts of COVID-19 on these organizations, Cluster-1 emerged as significantly more crises resilient, whereas Cluster-4 organizations were significantly more vulnerable to crises. Their characteristics and mitigation strategies they adopted were discussed.

The paper not only identified features of crises resilient organizations and successful mitigation strategies but also measured their impact on various performance indicators. Future studies might use characteristics, mitigation strategies and performance indicators identified in this study.

Based on the findings, tourism organizations would focus on strengthening characteristics and implementing strategies that make crises resilient organizations. Public bodies and destination management would also set their decision criteria based on these findings to create a more resilient tourism industry.

This research not only identifies how hospitality and tourism organizations are affected by COVID-19 but also how these impacts change based on different organizational characteristics and strategies. Understanding which organizational characteristics affect the crises vulnerability of hospitality and tourism organizations might inform risk and crises management literature and structural design elements in tourism businesses, hence offer both theoretical and practical implications.

This chapter analyzes the dynamics of crises. A crisis typically begins with the emergence of a critical situation, followed by poor leadership and mismanagement that precipitates the crisis itself. The causes of crises may be classified as natural, political, economic, financial, industry-specific and firm-specific. This chapter examines the causes and consequences of poor leadership and management in crises of different kinds. Firm-specific crisis is a surprisingly neglected topic. The failure of a firm may reflect external factors, for example, the decline of an industry, or internal factors, for example, management failures, or a combination of the two. The chapter explains firm-specific crisis in terms of firm-specific disadvantages, which are the opposite of the firm-specific advantages identified in internalization theory.

This paper aims to present a brief discussion on the geopolitical aspects of diplomatic divergences between India and Bangladesh regarding the Rohingya issue. Presently, more than a million people are living in 30 refugee camps in Bangladesh. In August 2017, the plight of Rohingya refugees broke all the previous record and had largely affected the Cox's Bazar region of Bangladesh when Bangladesh decided to provide shelter to the Rohingyas, identifying them as “Forcibly Displaced Myanmar Nationals (FDMN). Due to geographical closeness and historical linkage with both Myanmar and Bangladesh, India, despite taking strict measures to avoid any cross-border opportunities for Rohingyas, could not escape the consequences. Myanmar, due to its strategic position and natural resources, has always been the epicentre of attention and investment of foreign powers. The crisis has all the elements in it to create political turbulence in South Asia and South East Asia. A peaceful environment based on mutual trust and cooperation is required for the continuing economic growth of the region. Considering the importance of in-depth research in this arena, the study pursued the qualitative method.