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Financial and Regulatory Failure: The Case of Ireland

  • Kenneth Patrick Vincent O'Sullivan

    (University of Limerick)

  • Stephen Kinsella

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

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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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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  8. FitzGerald, John, 2009. "Fiscal Policy for Recovery," Papers WP326, Economic and Social Research Institute (ESRI).
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  10. 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, August.
  11. Reinhart, Carmen M. & Rogoff, Kenneth, 2009. "The Aftermath of Financial Crises," CEPR Discussion Papers 7209, C.E.P.R. Discussion Papers.
  12. Kevin Keasey & Gianluca Veronesi, 2008. "Lessons from the Northern Rock affair," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 16(1), pages 8-18, February.
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  14. Joe Peek & Eric S. Rosengren & Geoffrey M. B. Tootell, 2001. "Synergies between Bank Supervision and Monetary Policy: Implications for the Design of Bank Regulatory Structure," NBER Chapters, in: Prudential Supervision: What Works and What Doesn't, pages 273-300 National Bureau of Economic Research, Inc.
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  17. Kashyap, Anil K & Stein, Jeremy C & Wilcox, David W, 1993. "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance," American Economic Review, American Economic Association, vol. 83(1), pages 78-98, March.
  18. Peter Temin, 1991. "Introduction to "Inside the Business Enterprise: Historical Perspectives on the Use of Information"," NBER Chapters, in: Inside the Business Enterprise: Historical Perspectives on the Use of Information, pages 1-6 National Bureau of Economic Research, Inc.
  19. 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.
  20. Goodhart, Charles & Schoenmaker, Dirk, 1995. "Should the Functions of Monetary Policy and Banking Supervision Be Separated?," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 539-60, October.
  21. Constantin Gurdgiev & Brian M. Lucey & Ciarán Mac an Bhaird & Lorcan Roche-Kelly, 2011. "The Irish Economy: Three Strikes and You’re Out?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 19-41, March.
  22. K.P.V. O'Sullivan & Tom Kennedy, 2010. "What caused the Irish banking crisis?," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 18(3), pages 224-242, July.
  23. Dowd, Kevin, 1996. "The Case for Financial Laissez-Faire," Economic Journal, Royal Economic Society, vol. 106(436), pages 679-87, May.
  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.
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