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Crisis in the Irish Banking System

Author

Listed:
  • Blánaid Clarke

    (School of Law, University College Dublin)

  • Niamh Hardiman

    (School of Politics and International Relations, University College Dublin)

Abstract

Ireland has had one of the most catastrophic experiences of financial crisis in the developed world, in the wake of the global financial crisis of 2008. Unlike the US or Britain though, Ireland’s enormous banking exposure was almost entirely related to property speculation and to the unchecked domestic housing bubble of the preceding ten years. This paper analyses the conditions that led to the crisis, taking account of patterns of corporate governance, regulatory institutions and practices, and the linkages between the banking sector and the political system.

Suggested Citation

  • Blánaid Clarke & Niamh Hardiman, 2012. "Crisis in the Irish Banking System," Working Papers 201203, Geary Institute, University College Dublin.
    • Handle: RePEc:ucd:wpaper:201203
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    File URL: http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201203.pdf
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    References listed on IDEAS

    as
    1. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73(2), pages 110-110.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    3. Weidenmier, Marc, 2010. "This Time is Different: Eight Centuries of Financial Folly. By Carmen Reinhart and Kenneth Rogoff. Princeton, NJ: Princeton University Press, 2009. $35.00," The Journal of Economic History, Cambridge University Press, vol. 70(3), pages 766-768, September.
    4. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73(4), pages 351-351.
    5. Niamh Hardiman, 2010. "Bringing Domestic Institutions Back into Understanding Ireland’s Economic Crisis," Working Papers 201042, Geary Institute, University College Dublin.
    6. Black, Julia, 2008. "Forms and paradoxes of principles-based regulation," LSE Research Online Documents on Economics 23103, London School of Economics and Political Science, LSE Library.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Niamh Hardiman, 2013. "Rethinking the political economy of fiscal consolidation in two recessions in Ireland," Working Papers 201316, Geary Institute, University College Dublin.
    2. repec:hal:spmain:info:hdl:2441/5adcidkke9omt0s9p8s03ic8p is not listed on IDEAS
    3. Hee Soo Lee & Tae Yoon Kim, 2022. "A new analytical approach for identifying market contagion," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-35, December.
    4. Sebastian Dellepiane & Niamh Hardiman & Jon Las Heras, 2013. "Building on easy money:The political economy of housing bubbles in Ireland and Spain," Working Papers 201318, Geary Institute, University College Dublin.
    5. Fernández, Xosé Luís & Paz-Saavedra, David & Coto-Millán, Pablo, 2020. "The impact of Brexit on bank efficiency: Evidence from UK and Ireland," Finance Research Letters, Elsevier, vol. 36(C).
    6. Emiliano Grossman & Cornelia Woll, 2014. "Saving the Banks: The Political Economy of Bailouts," Post-Print hal-02186491, HAL.
    7. Sebastian Dellepiane & Niamh Hardiman, 2013. "The politics of fiscal effort in Spain and Ireland: Market credibility versus political legitimacy," Working Papers 201321, Geary Institute, University College Dublin.
    8. Yu Hsing, 2016. "Is Real Depreciation Expansionary? The Case of Ireland," Bulletin of Applied Economics, Risk Market Journals, vol. 3(1), pages 1-9.
    9. Emiliano Grossman & Cornelia Woll, 2014. "Saving the Banks: The Political Economy of Bailouts," SciencePo Working papers Main hal-02186491, HAL.

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    Keywords

    financial crisis; banking; corporate governance; regulatory institution; regulatory practices;
    All these keywords.

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