The Sources of Irish Growth
AbstractThis paper explores the sources of Ireland’s relative growth performance. Using panel data for a sample of OECD countries, we estimate a convergence equation and use it to conduct a growth accounting exercise which provides quantitative estimates of the immediate sources of Ireland’s growth differential vis-à-vis the OECD average and the other ‘cohesion’ countries of the EU. While we find that fiscal consolidation has contributed significantly to Ireland’s improved performance, we are not able to fully account for the ‘Irish miracle’ in terms of the standard growth theory variables. This finding supports the extended view that some peculiar features of the Irish economy (such as its success in attracting high-quality foreign direct investment) have played a crucial role in recent years. We conclude with some reflections on the need for structural reforms as a way to ensure the sustainability of Ireland’s rapid growth.
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 InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1756.
Date of creation: Dec 1997
Date of revision:
Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
Find related papers by JEL classification:
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
- L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Barry, Frank, 2004. "Export-platform foreign direct investment: the Irish experience," EIB Papers 6/2004, European Investment Bank, Economics Department.
- Séan Ó Riain, 2004. "State, Competition and Industrial Change in Ireland 1991-1999," The Economic and Social Review, Economic and Social Studies, vol. 35(1), pages 27-53.
- Jesus Crespo-Cuaresma & Neil Foster-McGregor & Robert Stehrer, 2009. "The Determinants of Regional Economic Growth by Quantile," wiiw Working Papers 54, The Vienna Institute for International Economic Studies, wiiw.
- Hauptmeier, Sebastian & Heipertz, Martin & Schuknecht, Ludger, 2006.
"Expenditure reform in industrialised countries: a case study approach,"
Working Paper Series
0634, European Central Bank.
- Sebastian Hauptmeier & Martin Heipertz & Ludger Schuknecht, 2007. "Expenditure Reform in Industrialised Countries: A Case-Study Approach," Fiscal Studies, Institute for Fiscal Studies, vol. 28(3), pages 293-342, 09.
- Hauptmeier, Sebastian & Heipertz, Martin & Schuknecht, Ludger, 2006. "Expenditure reform in industralised countries: a case study approach," ZEW Discussion Papers 06-50, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Jan Schnellenbach & Thushyanthan Baskaran & Lars P. Feld, 2009.
"Creative Destruction and Fiscal Institutions: A Long-Run Case Study of Three Regions,"
Papers on Economics and Evolution
2009-08, Max Planck Institute of Economics, Evolutionary Economics Group.
- Lars Feld & Jan Schnellenbach & Thushyanthan Baskaran, 2012. "Creative destruction and fiscal institutions: a long-run case study of three regions," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 563-583, July.
- Sequeira, Tiago Neves, 2002.
"The "Iberian Tigers" versus The "Celtic Tiger": Economic Growth Paths in an Economic History perspective,"
FEUNL Working Paper Series
wp416, Universidade Nova de Lisboa, Faculdade de Economia.
- Tiago Neves Sequeira, 2003. "The Iberian Tigers versus The Celtic Tiger: Economic Growth Paths in an Economic History Perspective," Economic History 0309002, EconWPA.
- Barry, Frank, 2003. "Tax Policy, FDI and the Irish Economic Boom of the 1990s," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 33(2), pages 221-236, September.
- David E. Bloom & David Canning, 2003. "Contraception and the Celtic Tiger," The Economic and Social Review, Economic and Social Studies, vol. 34(3), pages 229â247.
- Ivan Angelov, 2004. "Accelerated Economic Development – Theory and Practice," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-33.
- Frank Barry & Michael B. Devereux, 2006. "A Theoretical Growth Model for Ireland," The Economic and Social Review, Economic and Social Studies, vol. 37(2), pages 245-262.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.