Governing the Irish Economy: a Triple Crisis

Research output: Chapter in Book/Report/Conference proceedingChapter

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.
LanguageEnglish
Title of host publicationIrish Governance in Crisis
EditorsNiamh Hardiman
Place of PublicationManchester
PublisherManchester University Press
Chapter5
ISBN (Print)978-0-7190-8223-8
Publication statusPublished - 31 Dec 2011

Fingerprint

Ireland
Economic crisis
Loans
Competitiveness
Severity
Fiscal incentives
Pathway
Credit availability
Government
International economics
Policy choice
Decision making
Wage bargaining
Cost containment
Fiscal

Keywords

  • Irish economic development
  • Irish economy
  • fiscal priorities

Cite this

Dellepiane Avellaneda, S., & Hardiman, N. (2011). Governing the Irish Economy: a Triple Crisis. In N. Hardiman (Ed.), Irish Governance in Crisis Manchester: Manchester University Press.
Dellepiane Avellaneda, Sebastian ; Hardiman, Niamh. / Governing the Irish Economy : a Triple Crisis. Irish Governance in Crisis. editor / Niamh Hardiman. Manchester : Manchester University Press, 2011.
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Dellepiane Avellaneda, S & Hardiman, N 2011, Governing the Irish Economy: a Triple Crisis. in N Hardiman (ed.), Irish Governance in Crisis. Manchester University Press, Manchester.

Governing the Irish Economy : a Triple Crisis. / Dellepiane Avellaneda, Sebastian; Hardiman, Niamh.

Irish Governance in Crisis. ed. / Niamh Hardiman. Manchester : Manchester University Press, 2011.

Research output: Chapter in Book/Report/Conference proceedingChapter

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Dellepiane Avellaneda S, Hardiman N. Governing the Irish Economy: a Triple Crisis. In Hardiman N, editor, Irish Governance in Crisis. Manchester: Manchester University Press. 2011