Catching Up with the Leaders: The Irish Hare
AbstractFor many decades Ireland's output per capita ranked about twenty-fourth among the world's industrial nations. Suddenly, in the mid-1990's Ireland started to move up, from twenty-second in 1993 to eighteenth in 1997 and an amazing ninth in 1999. The many facets of Irish success over these years, from a disproportionate representation in popular music to the largest current account surplus in the industrial world, caught the public imagination at home and abroad. This article examines the startling turnaround in Irish economic performance that began in the mid 1980's. Ireland is not alone in having experienced severe macroeconomic imbalances in the past quarter century, but their amplitude has been greater than in almost any other OECD country. The early 1980's saw the worst extremes. In 1981 inflation was 21 percent, the current account deficit was about 15 percent of GNP. and public sector borrowing was running at an even higher rate. The attempt to rein in the twin deficits caused taxation to jump by 10 percentage points of GNP in seven years, while overt unemployment soared to 16 percent of the labor force in 1986 and net emigration approached 1 percent of the population.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Economic Studies Program, The Brookings Institution in its journal Brookings Papers on Economic Activity.
Volume (Year): 33 (2002)
Issue (Month): 1 ()
Contact details of provider:
Postal: 1775 Massachusetts Ave NW, Washington DC 20036
Phone: (202) 797-6000
Fax: (202) 797-6004
Web page: http://www.brookings.edu/economics.aspx
More information through EDIRC
macroeconomics; leaders; international; Ireland;
Other versions of this item:
- Honohan, Patrick & Walsh, Brendan M., 2002. "Catching up with the leaders : the Irish hare," Open Access publications from University College Dublin urn:hdl:10197/1596, University College Dublin.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barrett, Alan & Bergin, Adele & Coleman, Kieran & McHale, John & Morgenroth, Edgar & Walsh, John R., 2005. "Budget Perspectives 2006," Research Series, Economic and Social Research Institute (ESRI), number BMI181 edited by Callan, Tim & Doris, Aedin.
- Denny, Kevin & Harmon, Colm, 1999. "Wages and human capital," Open Access publications from University College Dublin urn:hdl:10197/145, University College Dublin.
- Francesco Giavazzi & Marco Pagano, 1990.
"Can Severe Fiscal Contractions be Expansionary? Tales of Two Small European Countries,"
NBER Working Papers
3372, National Bureau of Economic Research, Inc.
- Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries," NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 75-122 National Bureau of Economic Research, Inc.
- Giavazzi, Francesco & Pagano, Marco, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries," CEPR Discussion Papers 417, C.E.P.R. Discussion Papers.
- Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of two Small Euopean Countries," Working Papers 89, Dipartimento Scienze Economiche, Universita' di Bologna.
- John A. Curtis & John FitzGerald, 1994. "Convergence in an Open Labour Market," Papers WP045, Economic and Social Research Institute (ESRI).
- FitzGerald, John & Quinn, T. P. & Whelan, Brendan J. & Williams, J. A., 1988. "An Analysis of Cross-Border Shopping," Research Series, Economic and Social Research Institute (ESRI), number GRS137.
- Alan Barrett & Philip J. O'Connell, 2000.
"Is there a Wage Premium for Returning Irish Migrants?,"
WP125, Economic and Social Research Institute (ESRI).
- Alan Barrett & Philip J. O’Connell, 2001. "Is There a Wage Premium for Returning Irish Migrants?," The Economic and Social Review, Economic and Social Studies, vol. 32(1), pages 1-21.
- Barrett, Alan & O'Connell, Philip, 2000. "Is There A Wage Premium for Returning Irish Migrants?," CEPR Discussion Papers 2408, C.E.P.R. Discussion Papers.
- Barrett, Alan & O'Connell, Philip J., 2000. "Is There a Wage Premium for Returning Irish Migrants?," IZA Discussion Papers 135, Institute for the Study of Labor (IZA).
- Richard Layte & Tim Callan, 2001. "Unemployment, Welfare Benefits and the Financial Incentive to Work," The Economic and Social Review, Economic and Social Studies, vol. 32(2), pages 103-129.
- repec:ner:sciepo:info:hdl:2441/5571 is not listed on IDEAS
- Olivier Jean Blanchard & Lawrence F. Katz, 1992. "Regional Evolutions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(1), pages 1-76.
- David Jestaz & Edmund S Phelps & Gylfi Zoega & Jean-Paul Fitoussi, 2000.
"Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?,"
Sciences Po publications
info:hdl:2441/5571, Sciences Po.
- Jean-Paul Fitoussi & David Jestaz & Edmund S. Phelps & Gylfi Zoega, 2000. "Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 237-311.
- Fitoussi, J-P & Jestaz, D. & Phelps, E.S. & Zoega, G., 2000. "Roots of the Recent Recoveries : Labor Reforms or Private-Sector Forces ?," Documents de Travail de l'OFCE 2000-04, Observatoire Francais des Conjonctures Economiques (OFCE).
- Callan, Tim ed. & Barrett, Alan & Goggin, Jean & Gorecki, Paul K. & Keane, Claire & Kearney, Ide & Matthews, Alan & Walsh, John R., 2009. "Budget Perspectives 2010," Research Series, Economic and Social Research Institute (ESRI), number RS12.
- Ventura, Jaume, 1997. "Growth and Interdependence," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 57-84, February.
- John P Martin, 1998.
"What Works Among Active Labour Market Policies: Evidence from OECD Countries' Experiences,"
RBA Annual Conference Volume,
in: Guy Debelle & Jeff Borland (ed.), Unemployment and the Australian Labour Market
Reserve Bank of Australia.
- John P. Martin, 1998. "What Works Among Active Labour Market Policies: Evidence From OECD Countries' Experiences," OECD Labour Market and Social Policy Occasional Papers 35, OECD Publishing.
- John FitzGerald, 1998. "Wage Formation and the Labour Market," Papers WP095, Economic and Social Research Institute (ESRI).
- John Romalis, 2004. "Factor Proportions and the Structure of Commodity Trade," American Economic Review, American Economic Association, vol. 94(1), pages 67-97, March.
- Duffy, David & FitzGerald, John & Kearney, Ide & Shortall, Fergal, 1997. "Medium-Term Review 1997-2003, No. 6," Forecasting Report, Economic and Social Research Institute (ESRI), number MTR06, March.
- Olivier Jean Blanchard, 1990. "Suggestions for a New Set of Fiscal Indicators," OECD Economics Department Working Papers 79, OECD Publishing.
- Frank Barry & John Bradley & Aoife Hannan, 2001. "The Single Market, the Structural Funds and Ireland's Recent Economic Growth," Journal of Common Market Studies, Wiley Blackwell, vol. 39(3), pages 537-552, 09.
- Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650592, June.
- Durkan, Joe, 1992. "Social consensus and incomes policy," Open Access publications from University College Dublin urn:hdl:10197/1066, University College Dublin.
- Walsh, Brendan, 1993. "Credibility, Interest Rates and the ERM: The Irish Experience," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 55(4), pages 439-52, November.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Eric Encarnacion).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.