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The Irish Tiger and the German Frog: A Tale of Size and Growth in the Euro Area

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  • Eloi Laurent

    (OFCE)

  • Jacques Le Cacheux

    (OFCE)

Abstract

In this paper, we try to relate country size to economic performance in the Euro area, focusing on the second smallest Euro area country, Ireland, and the region’s largest economy, Germany, from 1995 to 2005. In the institutional context of the EMU, we show that Ireland smallness was a major factor in its spectacular success, while the growth strategy of Germany was not in line with its size and thus produced poor overall results. We argue that while Ireland needs to rethink its growth strategy with the arrival of the Eastern small states in the EU and the Euro area, Germany’s economic extraversion – choosing external competitiveness over domestic expansion and resorting to social and tax competition – could be re-oriented towards intensive domestic growth with benefits, not only for the country, but also for the Euro area as a whole.

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File URL: http://spire.sciencespo.fr/hdl:/2441/2137/resources/wp2007-31.pdf
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Bibliographic Info

Paper provided by Sciences Po in its series Sciences Po publications with number 2007-31.

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Date of creation: Oct 2007
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Handle: RePEc:spo:wpmain:info:hdl:2441/2137

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  1. André Sapir, 2006. "Globalisation and the reform of European social models," ULB Institutional Repository 2013/8112, ULB -- Universite Libre de Bruxelles.
  2. Eloi Laurent & Jacques Le Cacheux, 2006. "Integrity and Efficiency in the EU: The Case against the European economic constitution," Sciences Po publications 130, Sciences Po.
  3. Aghion, Philippe & Marinescu, Ioana, 2007. "Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?," Scholarly Articles 3350066, Harvard University Department of Economics.
  4. Hamada, Koichi, 1976. "A Strategic Analysis of Monetary Interdependence," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 677-700, August.
  5. McCallum, John, 1995. "National Borders Matter: Canada-U.S. Regional Trade Patterns," American Economic Review, American Economic Association, vol. 85(3), pages 615-23, June.
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Cited by:
  1. Mauro Napoletano & Jean-Luc Gaffard, 2009. "Country Size, Appropriate Policy, and Economic Performance: Some Evidence from OECD Countries," Sciences Po publications 2009-08, Sciences Po.
  2. Luigi Bonatti & Andrea Fracasso, 2012. "A Germans’ dilemma: save the euro or preserve their socio-economic model," Department of Economics Working Papers 1207, Department of Economics, University of Trento, Italia.
  3. Eloi Laurent, 2008. "Economic consequences of the size of nations, 50 years on," Sciences Po publications 2008-26, Sciences Po.

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