Not a Poster Child, But a Beautiful Freak: Economic and Fiscal Policy in Ireland, 1996-2016
To appear in O’Connell and Roche, eds. Austerity’s Poster Child? Ireland’s Experience of the Great Recession and Recovery, Oxford University Press, 2016.
39 Pages Posted: 12 May 2016
Date Written: May 10, 2016
Ireland did not need to impose the level of fiscal austerity it did in order to recover after the global financial crisis. Ireland is not a poster child for austerity but rather a beautiful freak. Structurally, Ireland is not like the other peripheral economies that imposed austerity after 2008. After reviewing Ireland’s fiscal history, this paper argues the structural features of the economy, its remarkable openness, and a range of international factors, explain Ireland’s success.
Keywords: Ireland, Austerity, Financial Balances, Openness
JEL Classification: E62, H30, H50, H61
Suggested Citation: Suggested Citation