Not a Poster Child, But a Beautiful Freak: Economic and Fiscal Policy in Ireland, 1996-2016

Kinsella, Stephen

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

See all articles by Stephen Kinsella

Stephen Kinsella

University of Limerick

Date Written: May 10, 2016

Abstract

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

Kinsella, Stephen, Not a Poster Child, But a Beautiful Freak: Economic and Fiscal Policy in Ireland, 1996-2016 (May 10, 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., Available at SSRN: https://ssrn.com/abstract=2778005