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The Celtic Tiger In Historical And International Perspective

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  • Crafts, Nicholas

    (Department of Economics, University of Warwick)

Abstract

When Economic Development was published in 1958, Ireland was a growth failure but thirty years later it became the Celtic Tiger. This paper places this remarkable development in the context of long-run economic growth in Western Europe and establishes the distinctive features of Irish experience and policy. This enables an assessment of the diagnosis and policy proposals that Whitaker provided fifty years ago. The central roles in the Celtic Tiger of foreign direct investment, ICT production, and an elastic labour supply are highlighted while the importance of globalization and the abandonment of misguided autarchic policies is made clear.

Suggested Citation

  • Crafts, Nicholas, 2008. "The Celtic Tiger In Historical And International Perspective," The Warwick Economics Research Paper Series (TWERPS) 867, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:867
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    File URL: https://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp_867.pdf
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    References listed on IDEAS

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    1. Harald Badinger, 2005. "Growth Effects of Economic Integration: Evidence from the EU Member States," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 141(1), pages 50-78, April.
    2. Peter J. Buckley & Frances Ruane, 2006. "Foreign Direct Investment in Ireland: Policy Implications for Emerging Economies," The World Economy, Wiley Blackwell, vol. 29(11), pages 1611-1628, November.
    3. Howitt, Peter & Aghion, Philippe, 2006. "Appropriate Growth Policy: A Unifying Framework," Scholarly Articles 4554121, Harvard University Department of Economics.
    4. Reint Gropp & Kristina Kostial, 2000. "The Disappearing Tax Base; Is Foreign Direct Investment (FDI) Eroding Corporate Income Taxes?," IMF Working Papers 00/173, International Monetary Fund.
    5. Frank Barry, 1996. "Peripherality in Economic Geography and Modern Growth Theory: Evidence from Ireland's Adjustment to Free Trade," The World Economy, Wiley Blackwell, vol. 19(3), pages 345-365, May.
    6. Adele Bergin & Ide Kearney, 2004. "Human Capital, The Labour Market and Productivity Growth in Ireland," Papers WP158, Economic and Social Research Institute (ESRI).
    7. Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
    8. Jerzmanowski, Michal, 2007. "Total factor productivity differences: Appropriate technology vs. efficiency," European Economic Review, Elsevier, vol. 51(8), pages 2080-2110, November.
    9. Marcel P. Timmer & Bart van Ark, 2005. "Does information and communication technology drive EU-US productivity growth differentials?," Oxford Economic Papers, Oxford University Press, vol. 57(4), pages 693-716, October.
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