Social Policy and Macroeconomics : The Irish Experience

McCarthy, F. Desmond

World Bank, Washington, DC

关键词: SOCIAL POLICY;    MACROECONOMICS;    ECONOMIC ANALYSIS;    FOREIGN DIRECT INVESTMENTS;    TRADE LIBERALIZATION;   

DOI  :  10.1596/1813-9450-2736
RP-ID  :  WPS2736

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The remarkable performance of the Irisheconomy in recent years has attracted much attention. Withina 10-year period the economy went from an 18 percentunemployment rate to nearly full employment, while the ratioof debt to GDP fell from 120 percent to less than 50percent. Inevitably, this success was also accompanied byproblems, as infrastructure came under increasing stress,environmental difficulties became more evident, and achanging social structure resulted in some groups becomingincreasingly marginalized. What worked and what did not? Inparticular, are there lessons that may be relevant for othercountries facing similar difficulties, especially in Asiaand Latin America? McCarthy focuses on three features ofIreland's economic achievements. Two of these featuresare external: the opening to Europe and the role of foreigndirect investment. The third and perhaps most"exportable" feature is domestic: the role of asocial pact. This pact was initially between employers,trade unions, and the government. Subsequent pacts wereextended to include a variety of other groups. McCarthydiscusses the far-reaching impact of this series of pacts onhealth, poverty, employment, education, and social welfare.Ireland now faces a number of challenges, including theslowdown in the global economy, a fall in resource transfersfrom the European Union, and the potential effects of theentry into the EU of Hungary and Poland.