Christopher Edmonds

The Impact of 9/11 and Other Terrible Global Events on Tourism in the United States and Hawaii

This article reviews recent trends in travel and tourism in the United States and Hawaii to ascertain how the terrorist attacks of 9/11 and subsequent terrible global events affected tourism flows. United States tourism has not recovered fully from 9/11 and other international shocks; indeed, recovery may be a long way off. By contrast, Hawaii tourism is enjoying robust growth in the aftermath of 9/11 as growth in tourist arrivals from the mainland has offset declines in international visitors. We suggest that Hawaii’s current tourism boom is explained in part by the diversion of United States travel from foreign travel. The article demonstrates the usefulness of vector error correction models to generate dynamic visitor forecasts, which we use to determine whether tourism in Hawaii has recovered fully from 9/11 and other terrible international events. The article considers policy options for facilitating the recovery of international tourism to the United States.

Asian regionalism and its effects on trade in the 1980s and 1990s

Abstract This paper begins by outlining the major preferential trade agreements (PTAs) in Asia and other regions and reviewing trends in trade flows. The paper uses a gravity model augmented with several sets of dummy variables to estimate the effect of various PTAs on trade flows within and across membership groupings as well as the effect of PTAs on members’ trade with Asian countries. On the basis of these estimates, we are able to categorize 11 major PTAs into those that increase intrabloc trade at the expense of their respective imports from the rest of the world; those that expand their respective trade among their members without reducing their trade with nonmembers; and those that reduce trade with nonmembers without significant changes in intrabloc trade. The authors also show that PTAs have augmented trade in Asia.

Impact of Approved Destination Status on Chinese travel abroad: an econometric analysis

Since the early 1990s, Chinas government has negotiated Approved Destination Status (ADS) with 120 countries. The agreements allow government-approved travel agencies to market group tours and obtain visas in bulk to ADS destinations. The authors apply a fixed-effects estimation model to analyse how ADS has affected outbound tourist travel from China, using visitor arrivals data from 61 foreign destinations from 1995 to 2005. Various model specifications indicate that ADS has resulted in significant increases in arrivals from China, averaging 52% over three years. The authors also find evidence of travel diversion as more countries have received ADS.

A Cost Analysis of EPA and DHA in Fish, Supplements, and Foods

Long-chain omega-3 polyunsaturated fatty acids (n-3 LC-PUFAs) are important components in healthy diets. Adequate intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) maintains proper neurodevelopment and reduces the risk of heart disease. Long-chain omega-3 polyunsaturated fatty acids are found primarily in fish, seafood, eggs, supplements, and fortified foods. The cost of food is a major influence on food choices. This study sought to determine the cost of 500 mg of EPA + DHA (the recommended intake) in seafood, food and supplements in order to identify the most economical sources. Stores from five retail grocery chains in Honolulu, Hawaii were visited in June and July 2010 to collect data on the price of foods and supplements containing significant amounts of EPA or DHA. The analysis used information from a nutrient database comprising of fourteen food composition databases detailing the omega-3 content of a wide variety of fish and seafood products. While fish oil supplements provided 500 mg of EPA + DHA at the lowest cost, relatively low-cost sources of EPA and DHA were available in fish with a variety of consumption characteristics, such as salmon and pelagic marine fishes. The most expensive sources of 500 mg of EPA +DHA were demersal marine fishes, milk and soy milk, and seaweeds. Strategies to increase intake of EPA and DHA include educating consumers on health benefits and sources, encouraging the consumption of seafood, improving the fatty acid profile of farmed seafood, and increasing the number of foods with EPA and DHA fortification.

Road Infrastructure and Regional Economic Integration: Evidence from the Mekong

Analysis of infrastructure’s role in facilitating international trade and consequently regional economic integration is still rudimentary. This original book fills that knowledge gap by exploring relevant concepts, measurement issues, aspects of the implementation of trade-related infrastructure facilities and their impacts on poverty, trade, investment and macroeconomic balances.

How inefficient are small-scale rice farmers in Eastern India really? : examining the effects of microtopography on technical efficiency estimates

We focus on the impact of failing to control for differences in land types defined along toposequence on estimates of farm technical efficiency for small-scale rice farms in eastern India. In contrast with the existing literature, we find that those farms may be considerably more technically efficient than they appear from more aggregated analysis without such control. Farms planted with modern rice varieties are technically efficient. Furthermore, farms planted with traditional rice varieties operate close to the production frontier on less productive lands (upland and mid-upland), but significant technical inefficiency exists on more productive lands (medium land and lowland).

Absorptive Capacity and the Impact of Commodity Terms of Trade Shocks in Resource Export-Dependent Economies

This paper investigates the role of “absorptive capacity” to manage unexpected shocks to their real economy, with a focus on small, open, natural resource-dependent economies. A quarterly panel data series for 45 countries is constructed, including 23 developing Asian countries for empirical investigation. For the entire sample, the analysis finds that absorptive capacity, choice of exchange rate regime, presence of wealth funds, level of foreign reserves, or degree of resource dependency alone, does not matter when real shocks are introduced to output. However, levels of absorptive capacity or ability to use resource windfalls effectively, and foreign reserves begin to matter when the sample is restricted to resource-dependent countries. Case studies from Papua New Guinea and Timor-Leste support this claim highlighting the challenges they face with a sudden influx of natural resource revenues when capacity to effectively use fiscal revenues is limited.

China's Bilateral Trade Intensity

In this paper, we use an intensity approach incorporated with gravity model to measure and compare China’s bilateral trade with the world average level. Our gravity model adjusted trade intensity index indicates that: 1. The trade between China and South-East countries are not more intensively than the world average when the effects of economic size and distance (both geographical and cultural) have been considered. 2. China has increasing interests in Africa Market during the period of 1985 and 2005. 3. China has intensively imported from Middle East oil suppliers. But the intensity of Japan’s import from this region is much higher than that of China’s.