The Dynamics of Ireland?s Net External Position
AbstractIreland's net external liability position expanded in dramatic fashion during 2008-2010, despite relatively small net financial flows during this period. Understanding the the source and persistence of this negative shock is critically important in assessing the future path for the Irish economy. However, data analysis is made difficult by the confounding impact of Ireland's major role as an international financial centre, such that the "core" international balance sheet remains obscure. However, there is considerable indirect evidence to believe that a substantial component of this decline is genuine and relates to the internationally-leveraged structure of the financial portfolios of domestic Irish residents.
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Bibliographic InfoPaper provided by IIIS in its series The Institute for International Integration Studies Discussion Paper Series with number iiisdp388.
Length: 24 pages
Date of creation: Dec 2011
Date of revision:
net external position; Ireland; valuation;
Find related papers by JEL classification:
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-05-15 (All new papers)
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