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The Contribution of Human Capital Formation to Post-War Economic Growth in Ireland

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  • Walsh, Brendan

Abstract

Following an account of the perceptions among Irish policy-makers since the second world war of the contribution of education to economic development, this paper examines the performance of the Irish economy in the framework of a model of exogenous growth incorporating human capital formation. It is shown that when account is taken of the low level of income at the start of the period and the relatively high rate of human and physical capital accumulation, the Irish growth rate has been relatively low. Possible explanations for this poor performance are explored. Neither the structure of education nor low rates of return to additional years of schooling appear to explain it, but there is evidence that the quality of physical investment has been poor. In addition, high and selective emigration in certain periods may have deprived the country of some of the returns to the increased investment in education undertaken in recent decades.

Suggested Citation

  • Walsh, Brendan, 1993. "The Contribution of Human Capital Formation to Post-War Economic Growth in Ireland," CEPR Discussion Papers 819, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:819
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    Citations

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    Cited by:

    1. Tiago Neves Sequeira, 2002. "The "Iberian Tigers" versus The "Celtic Tiger": Economic Growth Paths in an Economic History perspective," Nova SBE Working Paper Series wp416, Universidade Nova de Lisboa, Nova School of Business and Economics.
    2. O'Connell, Philip J. & Lyons, Maureen, 1995. "Enterprise-Related Training and State Policy in Ireland: The Training Support Scheme," Research Series, Economic and Social Research Institute (ESRI), number PRS25, June.
    3. FitzGerald, John & Kearney, Ide & Morgenroth, Edgar & Smyth, Diarmaid, 1999. "National Investment Priorities For The Period 2000-2006," Research Series, Economic and Social Research Institute (ESRI), number PRS33, June.
    4. Ide Kearney, 1997. "Shifts in the Demand for Skilled Labour in the Irish Manufacturing Sector: 1979-1990," Papers WP083, Economic and Social Research Institute (ESRI).
    5. Frank Barry, 1996. "Peripherality in Economic Geography and Modern Growth Theory: Evidence from Ireland's Adjustment to Free Trade," The World Economy, Wiley Blackwell, vol. 19(3), pages 345-365, May.

    More about this item

    Keywords

    Economic Growth; Education; Ireland;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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