Accounting for Irish growth: a balance-of-payments-constraint approach
AbstractLess than 20 years ago, the Irish economy was tired and sluggish, suffering from double-digit unemployment and stagnating incomes. Today, Ireland's "Celtic tiger" economy is one of the fastest growing in the world, exceeding average EUper capita income levels and boasting a thriving technology industry and productivity levels that are among the highest in Europe. In this study, we present a continuous-time disequilibrium model to explain economic growth in Ireland. In particular, we try to identify the key factors explaining the "Irish miracle" by developing a demand-oriented growth accounting methodology based on the balance-of-payments-constraint theory.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.
Volume (Year): 30 (2008)
Issue (Month): 3 (April)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348
external constraint; foreign direct investment; growth accounting; Irish economy; tax policy;
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- Anthony P. Thirlwall, 2011.
"Balance of payments constrained growth models: history and overview,"
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Economia civile, vol. 64(259), pages 307-351.
- A. P. Thirlwall, 2011. "Balance of Payments Constrained Growth Models: History and Overview," Studies in Economics 1111, Department of Economics, University of Kent.
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