Template-Type: ReDIF-Article 1.0

Author-Name: Bence Horak
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: horakb@mnb.hu
Author-Person:  

Title: Using Stones to Build Stairs - The Story of the Irish Economic Miracle

Abstract: This paper sets out to demonstrate how the poor, famine-stricken Irish economy
evolved into a global model economy. The reasons behind that dynamic development
and growth are still the subject of professional debate. It stands to reason that
the opening of the market with solid foundations, an intense inflow of foreign
working capital due to exceptional tax breaks, an English-speaking population, the
efficient use of additional resources offered by EU accession, the country's unique
geographical location, a highly educated workforce and the solidary inclination of
the Irish people have all had a beneficial effect. As a result, what once used to be
one of Europe's poorest countries in the 19th century has become one of the world's
most productive economies since the turn of the millennium.

Classification-JEL:
Keywords:
Pages: 167-181
Volume: 23
Issue: 1
Year: 2024
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-23-1-fa2-horak.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:23:y:2024:i:1:p:167-181