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Ireland’s Medium-Term Growth Prospects: a Phoenix Rising?

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  • Nicholas Crafts

    (University of Warwick)

Abstract

This paper considers Ireland’s growth prospects through 2030. Real GDP growth averaging 3 per cent per year is possible but will require a stronger labour productivity growth performance than is currently projected by OECD. Success depends on a favourable external environment and would be jeopardised by a return to the pre-crisis “bubble economy” but can be underpinned by exploiting the remaining scope for catch-up growth. “Appropriate growth theory” provides a useful lens through which to review Ireland’s growth policy and performance as a “close-to-frontier” economy and this underlines the importance of further strengthening and rationalising innovation policies.

Suggested Citation

  • Nicholas Crafts, 2014. "Ireland’s Medium-Term Growth Prospects: a Phoenix Rising?," The Economic and Social Review, Economic and Social Studies, vol. 45(1), pages 87-112.
  • Handle: RePEc:eso:journl:v:45:y:2014:i:1:p:87-112
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    Cited by:

    1. Duffy, David & Dwyer, Hannah, 2015. "FDI and the Availability of Dublin Office Space," Research Notes RN2015/3/2, Economic and Social Research Institute (ESRI).

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    Keywords

    economic growth; economic forecasting; Ireland;

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