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Financial and Regulatory Failure: The Case of Ireland

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  • Kenneth Patrick Vincent O'Sullivan

    (University of Limerick)

  • Stephen Kinsella

    (Department of Economics, College of Business, University of Limerick)

Abstract

The paper chronicles the evolution of financial regulation in Ireland, with particular attention given to the roles, responsibilities and actions of those authorities responsible for maintaining financial stability. It examines the role of financial regulation during the property bubble, in particular, the huge increase in propertybacked lending which fuelled its growth during the mid-2000s. We examine the impact of ongoing government support to the banking system and the damage which has been done to public finances since the banking crisis.

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File URL: http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201136.pdf
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Bibliographic Info

Paper provided by Geary Institute, University College Dublin in its series Working Papers with number 201136.

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Length: 25 pages
Date of creation: 22 Dec 2011
Date of revision:
Handle: RePEc:ucd:wpaper:201136

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Keywords: 2008 banking crisis; regulatory failure; Ireland; principles based regulation; public debt;

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References

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  18. Friedman, Benjamin M & Kuttner, Kenneth N, 1992. "Money, Income, Prices, and Interest Rates," American Economic Review, American Economic Association, vol. 82(3), pages 472-92, June.
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  22. Peter Temin, 1991. "Inside the Business Enterprise: Historical Perspectives on the Use of Information," NBER Books, National Bureau of Economic Research, Inc, number temi91-1, July.
  23. FitzGerald, John, 2009. "Fiscal Policy for Recovery," Papers WP326, Economic and Social Research Institute (ESRI).
  24. K.P.V. O’Sullivan & Tom Kennedy, 2008. "Supervision of the Irish Banking System: A Critical Perspective," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 6(3), pages 20-26, October.
  25. Reinhart, Carmen M. & Rogoff, Kenneth S., 2009. "The Aftermath of Financial Crises," Scholarly Articles 11129155, Harvard University Department of Economics.
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