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"Pacific Area Forecasting."
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Regional Economic Outlook, October 2011
In line with the weaker global outlook, growth in Asia is expected to be slightly lower in 2011-12 than forecast in April 2011, mainly as a result of weakening external demand, but the expansion should remain healthy, supported by domestic demand, which has been generally resilient. Overheating pressures remain elevated in a number of economies, with credit growth still robust and inflation momentum generally high, though inflation is expected to recede modestly after peaking in 2011. The sell-off in Asian financial markets in August and September 2011 underscores that an escalation of euro area financial turbulence and a renewed slowdown in the United States could have severe macroeconomic and financial spillovers to Asia. Against this backdrop, Asian low-income and Pacific Island economies face particular challenges in the near and medium term. In low-income countries, the fight against inflation is complicated by strong second-round effects, the need to phase out subsidies, and less well-anchored inflation expectations. Pacific Island economies need to undertake further structural reforms to lift potential growth. The downside risks to growth amid persistent overheating pressures present Asian policymakers with a delicate balancing act, as they need to guard against risks to growth but also limit the adverse impact of prolonged easy financial conditions on inflation and balance sheet vulnerabilities. At the same time, the weakness in global demand only confirms that Asia would greatly benefit from further progress in rebalancing growth by developing domestic sources of demand. In addition to structural reforms, this would require a reprioritization of fiscal spending, in order to create fiscal space for critical infrastructure investment and social priority expenditure.
eBook
Bridging science and policy implication for managing climate extremes
\"Since 1980, the number of climate-related disasters has been greatly increased glocally. Scientific consensus based on the IPCC fifth report suggested that global warming would bring more intense and frequent extreme climate events. These climate-related disasters hinder the achievement of sustainable economic growth and prosperity by disrupting supply chains, impeding production, destroying infrastructure, and necessitating high-cost rebuilding and recovery. To mitigate the climate extreme risks and possible losses, it is essential to maximize the utilization of scientific outputs and to share best practices in disaster risk management. Aligned with such purposes, Asia-Pacific Economic Cooperation (APEC) Climate Center (APCC) hosts the APEC Climate Symposium (APCS) every year. APCS focused on drought predction and management in 2013, climate extremes and hydrological disaster in 2014, and efficient use of climate information for disaster risk management in 2015. This book aims to compile some of the important results from the latest research in climate extreme prediction and services and its application studies with a focus on climate extremes such as typhoons, droughts, and floods based on the APCS presentations during 2013-2015\"-- Page 4 of cover.
Book
Regional economic outlook, April 2012
Barring the realization of downside risks to the global economy, growth in the Asia and the Pacific region is expected to gain momentum over the course of 2012, according to this report, and now projected at 6 percent in 2012, rising to about 6½ percent in 2013. Stronger economic and policy fundamentals have helped buffer the region's economies against the global financial crisis, by limiting adverse financial market spillovers and ameliorating the impact of deleveraging by European banks, but a sharp fall in exports to advanced economies and a reversal of foreign capital flows would have a severe impact on the region. The region's policymakers now face the difficult task of calibrating the amount of insurance needed to support stable, noninflationary growth. Some Asian and Pacific economies can afford to lengthen the pause in the normalization of their macroeconomic policies that was initiated when the global recovery stalled late in 2011; others may need a faster return to more neutral policy stances. Similarly, the pace of fiscal consolidation should be calibrated to country-specific circumstances. Additional chapters in the report discuss whether China is rebalancing and the particular challenges facing Asian low-income and small island economies.
eBook
Regional economic outlook, April 2011
The April 2011 issue of the Regional Economic Outlook: Asia and Pacific focuses on the policy challenges of managing the next phase of growth after Asia's recovery from the global crisis. The analytical chapters discuss how capital flows to the region may affect the monetary policy transmission mechanism and the role of macroprudential measures in this context, the implications of the Asian supply chain for rebalancing growth across the region, and the policy challenges for Asian low-income and Pacific Island countries. Economic recovery in Asia as a whole has been rapid (8.3 percent in 2010) and fueled by both exports and domestic demand. Looking ahead, growth is expected to continue at a more moderate but also more sustainable pace in 2011 and 2012, led by China and India. Meanwhile, new risks to the outlook have emerged. The full human cost and impact on infrastructure of the mid-March earthquake and tsunami in Japan remain to be determined. The steady response of the Japanese government and people has helped to contain the effects of the disaster on production, but a risk remains of prolonged disruptions in production that could spill over to other Asian economies in the regional supply chain. Moreover, tensions in the Middle East and North Africa and related risk of further oil price spikes could disrupt global growth and affect Asian exports. Finally, pockets of overheating have emerged in Asia, as core inflation and credit growth have accelerated in several Asian economies. The need to tighten macroeconomic policy stances has become more pressing than it was six months ago.
eBook
Cascadia's fault : the deadly earthquake that will devastate North America
Explains that a major earthquake and resulting tsunamis are likely to occur off the Pacific Northwest coast any time within the next two hundred years, arguing that the effects of the disaster will be far worse than the damage from the 2004 Sumatran quake and tsunamis.
Book
Regional economic outlook : Asia and Pacific
2008 is shaping up as a challenging year for Asia. Activity in most economies remains fairly buoyant, but growth in the United States and, to a lesser extent, Europe is slowing sharply. Given its extensive trade and financial linkages with the rest of the world, Asia is unlikely to delink. At the same time, inflation pressures are picking up across much of the region. Moreover, the still-unfolding global financial crisis adds a dimension of uncertainty to the picture, and the balance of risks remains on the downside. However, most countries in the region are well-placed to undertake counter-cyclical policies should these prove necessary.
eBook
Unravelling the spatial diversity of Indian precipitation teleconnections via a non-linear multi-scale approach
A better understanding of precipitation dynamics in the Indian subcontinent is required since India's society depends heavily on reliable monsoon forecasts. We introduce a non-linear, multiscale approach, based on wavelets and event synchronization, for unravelling teleconnection influences on precipitation. We consider those climate patterns with the highest relevance for Indian precipitation. Our results suggest significant influences which are not well captured by only the wavelet coherence analysis, the state-of-the-art method in understanding linkages at multiple timescales. We find substantial variation across India and across timescales. In particular, El Niño–Southern Oscillation (ENSO) and the Indian Ocean Dipole (IOD) mainly influence precipitation in the south-east at interannual and decadal scales, respectively, whereas the North Atlantic Oscillation (NAO) has a strong connection to precipitation, particularly in the northern regions. The effect of the Pacific Decadal Oscillation (PDO) stretches across the whole country, whereas the Atlantic Multidecadal Oscillation (AMO) influences precipitation particularly in the central arid and semi-arid regions. The proposed method provides a powerful approach for capturing the dynamics of precipitation and, hence, helps improve precipitation forecasting.
Journal Article
Historical and future drought impacts in the Pacific islands and atolls
Drought is known as a “creeping disaster” because drought impacts are usually noticed months or years after a drought begins. In the Pacific Island Countries and Territories (PICTs), there is almost no ability to tell when a drought will begin or end, especially for droughts other than meteorological droughts. Monitoring, forecasting and managing drought in the PICTs is complex due to the variety of different ways droughts occur, and the diverse direct and indirect causes and consequences of drought, across the PICT region. For example, the impacts of drought across the PICTs vary significantly depending on (i) the type of drought (e.g. meteorological drought or agricultural drought); (ii) the location (e.g. high islands versus atolls); (iii) socioeconomic conditions in the location affected by drought; and (iv) cultural attitudes towards the causes of drought (e.g. a punishment from God versus a natural process that is potentially predictable and something that can be managed). This paper summarises what is known and unknown about drought impacts in the PICTs and provides recommendations to guide future research and investment towards minimising the negative impacts of droughts when they inevitably occur in the PICTs.
Journal Article