The Irish Economy: Lessons for New Zealand?
This paper compares and contrasts the economies of Ireland and New Zealand. It attempts to identify important factors behind Ireland's recent strong growth, and seeks to derive 'lessons' for New Zealand. It is suggested that Ireland has benefited from its location, openness, macroeconomic stability, favourable demographics, educated population, wage moderation, foreign investment, European Union transfers, and luck! From a New Zealand viewpoint, the Irish experience reiterates the significance of quality investment, education and human capital, and macroeconomic stability and openness. But given the differences between the two countries, caution should be exercised in applying specific Irish policies in New Zealand.
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"Accounting for Differences in Economic Growth,"
115, Brookings Institution - Working Papers.
- Alberto Alesina & Roberto Perotti, 1997. "Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 210-248, June.
- Rudiger Dornbusch, 1988. "Credibility, Debt and Unemployment: Ireland's Failed Stabilization," NBER Working Papers 2785, National Bureau of Economic Research, Inc.
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