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The Irish Economic Boom: What Can We Learn?

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  • Pierre Fortin

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    Abstract

    The economic success story of the 1990s has been Ireland, with GDP per capita nearly doubling over the decade. In this article Pierre Fortin from the Université du Québec à Montréal and the Canadian Institute for Advanced Research provides a detailed examination of the factors behind the Irish renaissance and discusses the lessons of this experience for other countries. He finds that Ireland has experienced a long-term productivity boom over the last 25 years and that the recent acceleration in per capita GDP reflects an acceleration in employment rate growth, not in productivity growth. The main policy lessons that Fortin draws from the Irish economic miracle are: support free trade and investment; develop business-friendly industrial and tax policies; stick to free or low-cost secondary and post-secondary education; and ensure aggregate supply can accommodate non-inflationary aggregate demand expansion.

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    File URL: http://www.csls.ca/ipm/3/fortin-e.pdf
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    File URL: http://www.csls.ca/ipm/3/fortin-f.pdf
    File Function: version en francais, pp:19-32
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    Bibliographic Info

    Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

    Volume (Year): 3 (2001)
    Issue (Month): (Fall)
    Pages: 19-31

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    Handle: RePEc:sls:ipmsls:v:3:y:2001:2

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    Related research

    Keywords: Ireland; Productivity; Irish; Productivity Boom; Acceleration; Employment; Irish Miracle; Free Trade; Trade; Investment; Policy; Tax Policy; Post-Secondary Education; Education; Aggregate Supply; Inflation; Demand; GDP; Living Standards; Trend; Growth; Income Growth; Investment; Competitiveness; Capital; Canada;

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    References

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    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.:
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    1. Daron Acemoglu & Joshua Angrist, 1999. "How Large are the Social Returns to Education? Evidence from Compulsory Schooling Laws," NBER Working Papers 7444, National Bureau of Economic Research, Inc.
    2. Elhanan Helpman & David T. Coe, 1993. "International R&D Spillovers," IMF Working Papers 93/84, International Monetary Fund.
    3. George A. Akerlof & William T. Dickens & George L. Perry, 2000. "Near-Rational Wage and Price Setting and the Long-Run Phillips Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 1-60.
    4. Kevin M. Murphy & W. Craig Riddell & Paul M. Romer, 1998. "Wages, Skills, and Technology in the United States and Canada," NBER Working Papers 6638, National Bureau of Economic Research, Inc.
    5. Willem H. Buiter, 1999. "The EMU and the NAMU: What is the Case for North American Monetary Union?," Canadian Public Policy, University of Toronto Press, vol. 25(3), pages 285-305, September.
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    Cited by:
    1. Centre for the Study of Living Standards, 2002. "Raising Canadian Living Standards: A Framework for Discussion," CSLS Research Reports 02td, Centre for the Study of Living Standards.
    2. David E. Bloom & David Canning, 2003. "Contraception and the Celtic Tiger," The Economic and Social Review, Economic and Social Studies, vol. 34(3), pages 229–247.
    3. Andrew Sharpe, 2006. "Lessons for Canada from International Productivity Experience," CSLS Research Reports 2006-02, Centre for the Study of Living Standards.
    4. Andrew Sharpe, 2002. "Raising Canadian Living Standards: A Framework for Analysis," International Productivity Monitor, Centre for the Study of Living Standards, vol. 5, pages 23-40, Fall.

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