Steven Bond-Smith

Steven Bond-Smith
University of Hawaiʻi at Mānoa | UH Manoa · Economic Research Organization (UHERO)

About

33
Publications
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77
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Introduction
Steven’s main research focus is the implications of distance and scale for productivity and growth, especially in small and isolated economies. He is involved in both academic and applied research projects. Steven's work supports the development of effective place-based policy approaches, informed by theory and data, to promote economic growth for more people in more places. Steven is also a Co-Editor for Spatial Economic Analysis.

Publications

Publications (33)
Preprint
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In this paper we set out the relationships between the behavioural, technological and spatial changes in systems that allow for heterogeneous responses to working-from-home by different types of actors, and also identifies the channels via which such changes take place. Unlike all other papers on the subject, the analytical framework we propose cen...
Preprint
Full-text available
Specialization in tourism exposes the economy of Hawai'i to external shocks that trigger collapses in tourist numbers. Furthermore, Hawai'i's economic growth has diminished for decades as the dominance of tourism has not generated productivity growth. In response, policy-makers in Hawai'i increasingly emphasize diversification. This article examine...
Preprint
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The economy of Hawaii was extremely vulnerable to the COVID-19 pandemic due to its heavy reliance on tourism. This article is a thorough survey of issues affecting a tourism-dependent open economy during the COVID-19 pandemic. We provide a comprehensive analysis of the pandemic's economic impact in Hawaii by comparing the actual outcomes during the...
Article
Full-text available
This editorial summarizes the papers published in issue 17(3) (2022). The first paper analyses the impact of knowledge spillovers on patent applications using a Tobit model. The second paper sets out an economic-theoretical model of industrial specialization patterns across cities and their impact on the spatial agglomeration of skilled workers and...
Article
Full-text available
This editorial summarizes the papers published in issue 17(2) (2022). The first paper evaluates logistic regression and machine-learning methods for predicting firm bankruptcy. The second paper demonstrates that machine learning outperforms existing tools to improve the estimation of regional input–output tables. The third paper investigates whethe...
Article
Full-text available
This editorial summarizes the papers published in issue 17(1) (2022). This issue begins with a second editorial calling on researchers to publish replication results from previous studies. The first paper applies a spatiotemporal Bayesian hierarchical model for understanding the dynamics of second home ownership in Corsica. The second paper determi...
Article
I consider the impact of market contestability on innovation and growth. To examine this I use discrete entry (i.e. an integer number of firms) as a tool to vary contestability in each sector of a disaggregated multi‐sector endogenous growth model. Contestability affects entry, extending results beyond competition. As a result, sectors with lower c...
Article
Increasing returns to scale is the basis for many powerful results in economics and economic geography. But the limitations of assumptions about returns to scale in economic growth theories are often ignored when applied to geography. This leads to an unintentional bias favoring scale and mistaken conclusions about geography, scale, and growth. Alt...
Preprint
Full-text available
I consider the impact of market contestability on innovation and growth. To examine this I use discrete entry (i.e. an integer number of firms) as a tool to vary contestability in each sector of a disaggregated multi-sector endogenous growth model. Contestability affects entry, extending results beyond competition. As a result, sectors with lower c...
Article
Full-text available
This report considers evidence about the existence and scale of agglomeration economies, including in Australian cities. It examines whether city size affects productivity, and whether economic productivity, city size and rising housing costs are interdependent.
Technical Report
Full-text available
Hawai‘i’s vulnerability to economic shocks has become a paramount concern during the pandemic. Extreme specialization in the visitor industry exposes Hawaiʻi to risk and volatility when events such as a pandemic, recession or terrorist attack trigger collapses in visitor numbers. In response, policy-makers in Hawaiʻi are placing an increasing empha...
Preprint
Full-text available
Increasing returns to scale is the basis for many powerful results in economics and economic geography.But the limitations of assumptions about returns to scale in economic growth theories are often ignored when applied to geography. This leads to an unintentional bias favoring scale and mistaken conclusions. about geography, scale and growth. Alte...
Article
This article builds an understanding of regional innovation specialisation by developing a multi-sector model with endogenous growth through quality improving innovations and spillovers from related technologies. The model provides an approach to incorporate the relatedness literature within the mainstream theoretical frameworks of endogenous growt...
Preprint
Full-text available
This article builds an understanding of regional innovation specialization by developing a multi-sector model with endogenous growth through quality improving innovations and spillovers from related technologies. The model provides an approach to incorporate the relatedness literature within the mainstream theoretical frameworks of endogenous growt...
Book
Full-text available
Future-Proofing the WA Economy is the fourth report in the Bankwest Curtin Economics Centre’s Focus on Industry report series. The report recommends the implementation of a ‘smart specialisation’ approach to regional diversification, to ensure that new development opportunities build on existing regional capabilities and capitalise on local conditi...
Article
The so‐called “new growth theory” is characterized by the now Nobel Prize winning insight that ideas are a nonrival input to and output from endogenous investment in innovation. Nonrivalry implies increasing returns to scale, but this also unintentionally creates an empirically disputed scale effect that a growing population implies an ever‐increas...
Preprint
Full-text available
The so-called 'new growth theory' is characterized by the now Nobel Prize winning insight that ideas are a non-rival input to and output from endogenous investment in innovation. Non-rivalry implies increasing returns to scale, but this also unintentionally creates an empirically-disputed scale effect that a growing population implies an ever-incre...
Preprint
Full-text available
This article analyses the relationship between compatibility and innovation in markets with network effects using a model of competition with endogenous R&D, commercialization and compatibility. Compatibility is a mutual decision between firms and demand is partially dependent on overall consumption across compatible networks. Incumbent acquisition...
Article
This article analyses the relationship between compatibility and innovation in markets with network effects using a model of competition with endogenous R&D, commercialization and compatibility. Compatibility is a mutual decision between firms and demand is partially dependent on overall consumption across compatible networks. Incumbent acquisition...
Book
Full-text available
We often hear that an ageing Western Australian population will have a profound impact on our labour market and economy. However, it is the pressure that this changing demographic is placing on our health system that may cause the largest social impact of all. This third BCEC Focus on Industry report provides an in-depth investigation of the healt...
Book
Full-text available
New data technologies, big data analytics and intelligent software systems are transforming the way we produce, consume or distribute commodities, and increasingly, the way we access services. They are also changing the way in which we engage with our personal, social and business networks and communities. This BCEC Focus on WA report shows there...
Article
In this paper we model growth using a scale-neutral approach to innovation allowing differences between regions to emerge due to regional mechanisms. In this model, agglomeration is growth enhancing as the scale effect for innovation arises from greater access to knowledge rather than any assumed scale effects in growth-modelling techniques. Furthe...
Book
Full-text available
The 2015 Federal Budget referred to small businesses as the ‘engine room’ of the economy. Australia’s changing economic landscape means that governments are placing greater emphasis on the important role of small businesses for growth and employment. This is not unique to Australia, with small firms seen as the driving force of growth across many o...
Book
Full-text available
There has been a collective nervousness following the decline in the resources sector in Western Australia and its associated grim headlines. Agriculture has historically been an important industry for the state. With an expanding middle class in China and a rising population in South-East Asia, agribusiness has now emerged to be a much touted cand...
Book
Full-text available
Positioned for an Ideas Boom is the fourth report in the Bankwest Curtin Economics Centre Focus on the States series. The report examines an issue of central importance to maintaining economic growth, improving competitiveness and creating jobs – productivity and innovation. The much anticipated National Innovation and Science Agenda launched by P...
Chapter
We describe how endogenous growth theory has now incorporated spatial factors. We also derive some of the policy implications of this new theory for growth and economic integration. We start by reviewing the product variety model of endogenous growth and discuss similarities with modeling techniques in the new economic geography. Both use Dixit-Sti...
Technical Report
Full-text available
We examined whether the charges for waste disposal in New Zealand reflect the full social, environmental and economic costs. Landfills are operated in New Zealand on a fully commercial basis, by local authorities, or under a private/public partnership. Generally charges are used to recover costs, but some landfills operated by councils include rate...
Preprint
Full-text available
We examine endogenous growth through vertical innovations in a two region model with partial regional and varietal knowledge spillovers. This paper extends the growth literature by adding a regional endogenous growth model with improvements in product quality, instead of a product variety engine for growth, where we account for partial knowledge sp...
Technical Report
Full-text available
This report has a narrow scope for analysis; it examines the impacts on the industry supplying insulation and clean heating. It assesses:  the producer surplus associated with production and installation of insulation and clean heating;  additional employment in production and installation; and the  wider effects on employment elsewhere in the e...
Technical Report
Full-text available
This report examined appropriate discount rates for biodiversity offsets. Due to what is being replaced by the offset, the report recommends very low discount rates be applied for time discounting.
Technical Report
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Bespoke pricing signals are one of the options identified within the Transmission pricing review (TPR). Covec has been asked by the Electricity Commission to explore this option and report on 1. Its background and rationale; 2. The nature and potential scale of benefits; 3. Implementation options; 4. The likely costs and benefits of these options r...
Technical Report
Full-text available
The purpose of this report is to provide the Parliamentary Commissioner for the Environment (PCE) with a set of “best guess” estimates for the carbon price in 2020 and 2030 for three climate policy scenarios that reflect a range of anticipated levels of global ambition in reducing emissions. The report is based on a review of projected prices in ex...
Technical Report
Full-text available
This report examines the current and expected future prices of coal in New Zealand for domestic and export markets. It is produced to provide data as input to forecasting and other modelling work by MED and other government agencies. The work has been based on industry interviews and analysis of published price data. Interviews have been held with...

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Project
Co-editor, editorials of the Journal.