The Rise and Fall of Ireland's Celtic Tiger

The Rise and Fall of Ireland's Celtic Tiger PDF Author: Seán Ó Riain
Publisher: Cambridge University Press
ISBN: 1107009820
Category : Business & Economics
Languages : en
Pages : 312

Book Description
A new explanation of the Irish economic crisis, tracing its roots in Ireland's earlier record of growth and development.

The Celtic Tiger

The Celtic Tiger PDF Author: Paul Sweeney
Publisher: Oak Tree Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 263

Book Description
Paul Sweeney surveys the processes and economic circumstances that have worked to produce the modern Irish economic miracle. He also casts a critical eye on the conditions that create a have and have not society in modern Ireland.

The Fall of the Celtic Tiger

The Fall of the Celtic Tiger PDF Author: Donal Donovan
Publisher: OUP Oxford
ISBN: 0191016047
Category : Business & Economics
Languages : en
Pages : 352

Book Description
By 2000, Ireland had achieved a remarkable macroeconomic performance: 10% economic growth annually, a budget surplus, and a very low debt to GDP ratio. Emigration had disappeared and there was significant immigration from Eastern Europe. Yet, by November 2010, output had collapsed to an extent unprecedented among post war industrial countries, the budget deficit was out of control, and the debt to GDP ratio had soared to around 100%. In an unprecedented development, Ireland was forced to apply for an emergency bail-out package from the Troika (European Commission, European Central Bank, and the International Monetary Fund). This book examines how the Celtic Tiger, a high growth performing economy, fell into a macroeconomic abyss. It is a story that shows how the Irish economy moved from a property market crisis to a banking crisis and fiscal crisis, and how these three crises led to a fourth crisis, the massive financial crisis of 2010. Against the backdrop of the newly created Eurozone, the book demonstrates how a housing boom was transformed into a property market bubble through excessive credit creation. Accompanying the market bubble, buoyant property related taxes enabled a profligate government to over spend and under tax. Few, either in Ireland or Europe, recognised the danger signals because the prevailing economic ideology suggested that financial markets could self-regulate. The book analyses the roles of banks, builders, developers, regulators (the EU, the ECB, the Central Bank of Ireland, and the Irish Financial Regulator), politicians, economists, the media, and a property driven populace during the various stages of the downfall of the Celtic Tiger. It pays particular attention to the decisions to provide a highly controversial comprehensive guarantee for the covered Irish banks in 2008, and the subsequent events that left the government with no alternative but to request the 2010 bail out. Throughout the book, attention is devoted to the allocation of responsibilities for the unfolding crises. First, who or what was responsible for what happened and in what sense? Second, could specific actions have been taken at various stages to prevent the final recourse to the bail out? Finally, the book addresses the future of the Celtic Tiger. It discusses the impact of measures to help resolve the current Euro debt crisis as well as the underlying lessons to be learned from this traumatic period in Ireland's economic and financial history.

Celtic Revival?

Celtic Revival? PDF Author: Sean Kay
Publisher: Rowman & Littlefield Publishers
ISBN: 1442211113
Category : Political Science
Languages : en
Pages : 264

Book Description
Celtic Revival? explores what happens when a society loses its wealth, its faith in government, and its trust in its Church. Sean Kay draws on a rich blend of research, interviews with a broad spectrum of Irish society, and his own decades of personal experience to tell the story of Ireland today—from the rise of the Celtic Tiger to the dramatic crash that shook the world. He guides the reader through the country's daunting economic challenges, political transformation, social change, the crisis in the Irish Catholic Church, and the rise of gay rights and multiculturalism. He takes us through the streets of Derry and Belfast to understand the Northern Ireland peace process and the arduous task of peace building that has only just begun. Finally, we see how Irish foreign policy has long been a model for balancing competing interests and values. Kay concludes by highlighting Ireland's lessons for the world and mapping a vital path for twenty-first-century challenges and opportunities for the coming generations in Ireland and beyond.

Irish Economic Development

Irish Economic Development PDF Author: Eoin O'Leary
Publisher: Routledge
ISBN: 1136156909
Category : Business & Economics
Languages : en
Pages : 210

Book Description
This book offers a discerning narrative on the spectacular rise and fall of the so-called Celtic Tiger economy. It depicts Ireland as a micro-state with a unique reliance on foreign-assisted businesses, driven in part by a favourable taxation regime. It shows that rent-seeking by trades unions and property developers contributed to the fall since 2002. Although the country’s highly centralized government’s pre-disposition to lobbying has yielded international successes, it has also resulted in recurring self-inflicted crises since 1970. This volume shows how Ireland’s export-led growth is associated more with the attraction of foreign-assisted businesses than with the development of critical masses of internationally competitive indigenous businesses. Although the success of foreign-assisted businesses in the pharmaceutical, ICT and finance sectors has been influenced by tax advantages, many of these businesses have been involved in highly productive activity in Ireland over a number of decades. The problem of rent-seeking is shown to have undermined Irish competitiveness in the internationally traded and sheltered sectors. The Irish policy mind-set is shown to lean towards distribution rather than growth. While this has been advantageous for how ‘Ireland Inc.’ interacts with other governments and international businesses, it has also resulted in a failure to resist the destructive effects of capture by lobbies. In conclusion, this book considers future opportunities offered by the EU’s smart-specialization policy and future threats from increased international tax competition. It argues that unless Irish citizens and policymakers change deep-seated attitudes and mind-sets towards business development, the country’s performance for the next number of decades will more likely resemble serial under-achievement than that of a high-performing EU state.

From Prosperity to Austerity

From Prosperity to Austerity PDF Author: Eamon Maher
Publisher:
ISBN: 9781781707197
Category : POLITICAL SCIENCE
Languages : en
Pages : 240

Book Description
This text examines the phenomenon of the rise and fall of the Irish Celtic Tiger from a cultural perspective. It looks at Ireland's regression from prosperity to austerity in terms of a society as opposed to just an economy. Using literary and cultural theory, it looks at how this period was influenced by, and in its turn influenced, areas such as religion, popular culture, politics, literature, photography, gastronomy, music, theatre, poetry and film. It seeks to provide some answers as to what exactly happened to Irish society in the past few decades of boom and bust.

The Course of Irish History

The Course of Irish History PDF Author: Theodore William Moody
Publisher:
ISBN: 9781856357555
Category : Ireland
Languages : en
Pages : 542

Book Description
The classic general history of Ireland covering the economic, social and political development of Ireland from the prehistoric times to the present. This new updated edition brings us up to 2011.

Ship of Fools

Ship of Fools PDF Author: Fintan O'Toole
Publisher: PublicAffairs
ISBN: 1586488813
Category : Business & Economics
Languages : en
Pages : 230

Book Description
Examines the rise and fall of Ireland's economy due to the global financial crisis of 2008, incompetence, and political corruption.

The Fall of the Celtic Tiger

The Fall of the Celtic Tiger PDF Author: Donal Donovan
Publisher: Oxford University Press
ISBN: 0199663955
Category : Business & Economics
Languages : en
Pages : 318

Book Description
Examines how the Celtic Tiger, an economy that was hailed as one of the most successful in history, fell into a macroeconomic abyss necessitating an unheard of bail-out. It covers property market bubbles, regulatory incompetency, and disastrous economic policies. A highly readable account of the unprecedented near collapse of the Irish economy.

The Impossible Dream

The Impossible Dream PDF Author: Barry J Whyte
Publisher: Gill & Macmillan Ltd
ISBN: 0717188051
Category : Biography & Autobiography
Languages : en
Pages : 272

Book Description
In 2006, a previously unknown Irish technology company by the name of Steorn created headlines globally when it took out a full-page ad in The Economist, in which it claimed to have made the scientific breakthrough of this – or any other – century: perpetual motion, nothing less than a complete and immediate solution to the global energy crisis. The investment money poured in, with some of Ireland’s most respected entrepreneurs and institutions getting on board, but the demonstration of their perpetual-motion machine was a spectacular failure. So how did so many well-meaning and otherwise sensible people get things so desperately, absurdly wrong? The story begins with a malfunctioning CCTV system and ends with an exploding battery, and it drives home Ireland’s frenzied state of mind during the Celtic Tiger years.