Working Paper: CEPR ID: DP975
Authors: Cormac O'Grada; Kevin O'Rourke
Abstract: The paper reviews the economic performance of the Republic of Ireland since 1945. Its focus is comparative: Ireland's record is assessed against the evidence in OECD and Penn Mark V datasets for a `convergence club' of European economies, and is found wanting. The comparison confirms that the 1950s were a particularly bleak decade for Ireland but, more surprisingly, Ireland also performed less well than predicted by convergence criteria in both 1960-73 and 1973-88. The paper then assesses a range of explanations for this poor performance.
Keywords: economic growth; convergence; Ireland
JEL Codes: N10; O40
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Protectionism (F52) | Poor Economic Outcomes (P46) |
| Large Agricultural Sector (Q19) | Economic Growth Impediments (O49) |
| Small Economic Size (R12) | Economic Growth Impediments (O49) |
| Lack of Liberalization (P19) | Slower Growth Rates (O49) |
| Reliance on Certain Data Measures (C80) | Altered Conclusions about Economic Health (P17) |