Governing the Irish economy: a triple crisis

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Title: Governing the Irish economy: a triple crisis
Authors: Dellepiane, Sebastian
Hardiman, Niamh
Permanent link: http://hdl.handle.net/10197/4931
Date: 21-Feb-2011
Abstract: The international economic crisis hit Ireland hard from 2007 on. Ireland’s membership of the Euro had a significant effect on the policy configuration in the run-up to the crisis, as this had shaped credit availability, bank incentives, fiscal priorities, and wage bargaining practices in a variety of ways. But domestic political choices shaped the terms on which Ireland experienced the crisis. The prior configuration of domestic policy choices, the structure of decision-making, and the influence of organized interests over government, all play a vital role in explaining the scale and severity of crisis. Indeed, this paper argues that Ireland has had to manage not one economic crisis but three – financial, fiscal, and competitiveness. Initial recourse to the orthodox strategies of spending cuts and cost containment did not contain the spread of the crisis, and in November 2010 Ireland entered an EU-IMF loan agreement. This paper outlines the pathways to this outcome
Type of material: Working Paper
Publisher: University College Dublin. Geary Institute
Series/Report no.: UCD Geary Institute Discussion Paper Series; WP2011/03
Keywords: Property bubblePolicyTaxationEconomic governance
Other versions: http://www.ucd.ie/geary/static/publications/workingpapers/gearywp201103.pdf
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers
Politics and International Relations Research Collection

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