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Fiscal Policy in Ireland 1970s-1980s
This essay reviews the structure and recent developments of the Irish economy with particular reference to the period 1970s-1980s. ... During the 1960s and 1970s Ireland witnessed an average annual volume growth of 3. ...
Having experiencd the highest GDP growth rate in volume terms in the EU during the latter half of the 1970s, Ireland suffered a reversal in ranking during the five years to 1986. ... The underlying reasons for the poor performance of the Irish economy during the 1980s can be traced to some of the factors which helped fuel the economic growth of the previous decade :
*Changes in fiscal policy and a slowdown in foreign investment. ...
Profit repatriation by multinationals which set up in Ireland in the 1960s and 1970s and the servicing of the foreiegn component of the national debt resulted in net factor outflows in the 1980s. ... The share of the other expenditure components of GDP all declined between 1982 and 1987 with the most significant being the decrease in gross fixed investment, a fall in the gross fiscal capital formation in the construction sector, the lack of direct foreign investment and the spin-off lack of growth and investment in the industrial sectors. ... the rate of natural increase, the rate of declining fertility and the movement toward smaller family size in Ireland. ... The general expectation was that when Ireland joined the EMS, the inflation rate would quickly converge towards the relatively low rates prevailing in West Germany. ... This can be primarily attributed to the massive injection of confidence that the economy received from fiscal responsibility.
Approximate Word count = 1328
Approximate Pages = 5.3
(250 words per page double spaced)
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