Bringing Domestic Institutions Back into Understanding Ireland’s Economic Crisis
The Irish economy has had one of the worst experiences of economic crisis within the EU since the onset of international financial crisis in 2007/8. That the crisis has an international dimension is beyond question. What needs to be explored further is the contribution of domestic political factors which weakened the capacity of the Irish political system to respond and which exposed Ireland to a worse crisis than might otherwise have occurred. Three institutional clusters are analysed: the political priorities and decision-making routines underlying the Irish growth model; the configuration of the public administration system; and the management of the domestic cost base. In all three, urgent priorities for reform are identified. The paper does not advocate reform of the electoral system, which tends to attract more media attention than is warranted. Rather, it argues that energy and intelligence needs to be devoted to reforming the quality of decision-making, limiting government’s fiscal discretion, and opening up transparency in the distribution of the costs of adjustment.
|Date of creation:||01 Oct 2010|
|Contact details of provider:|| Postal: Arts Annexe, Belfield, Dublin 4|
Phone: +353 1 7164615
Fax: +353 1 7161108
Web page: http://www.ucd.ie/geary/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Benetrix, Agustin & Lane, Philip R., 2009.
"The Impact of Fiscal Shocks on the Irish Economy,"
The Economic and Social Review,
Economic and Social Studies, vol. 40(4), pages 407-434.
- Agustín S. Bénétrix and Philip R. Lane, 2009. "The Impact of Fiscal Shocks on the Irish Economy," The Institute for International Integration Studies Discussion Paper Series iiisdp281, IIIS.
- James Crotty, 2008.
"Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’,"
UMASS Amherst Economics Working Papers
2008-14, University of Massachusetts Amherst, Department of Economics.
- James Crotty, 2009. "Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 563-580, July.
- James Crotty, 2008. "Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’," Working Papers wp180, Political Economy Research Institute, University of Massachusetts at Amherst.
- Honohan, Patrick & Donovan, Donal & Gorecki, Paul & Mottiar, Rafique, 2010. "The Irish Banking Crisis: Regulatory and Financial Stability Policy," MPRA Paper 24896, University Library of Munich, Germany.
- Gerard Caprio, Jr. and Patrick Honohan, 2008.
The Institute for International Integration Studies Discussion Paper Series
- John FitzGerald, 2000. "Ireland's Failure-And Belated Convergence," Papers WP133, Economic and Social Research Institute (ESRI).
- Niamh Hardiman & Muiris MacCarthaigh, 2010. "Organising for Growth: Irish State Administration 1958-2008," The Economic and Social Review, Economic and Social Studies, vol. 41(3), pages 367-393.
- Honohan, Patrick, 2006. "To What Extent has Finance been a Driver of Ireland's Economic Success?," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2006(4-Winter), pages 59-72.
When requesting a correction, please mention this item's handle: RePEc:ucd:wpaper:201042. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Geary Tech)
If references are entirely missing, you can add them using this form.