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Governing the Irish economy: a triple crisis
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File | Description | Size | Format | |
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Dellepiane_and_Hardiman,_Governing_the_Irish_Economy_-_A_Triple_Crisis.pdf | 795.56 KB |
Author(s)
Date Issued
21 February 2011
Date Available
15T17:11:58Z November 2013
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
UCD Geary Institute Discussion Paper Series
WP2011/03
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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