Before the Boom: The Historical Background

Eoin O’Malley ()

Chapter Chapter 2 in Ireland's Long Economic Boom, 2024, pp 17-47 from Palgrave Macmillan

Abstract: Abstract The Celtic tiger boom was a major departure from previous experience since the Irish economy had a long previous history of relative weakness compared to many other European countries. The Irish economy had a chronic problem with insufficient generation of employment, resulting in high rates of emigration, as well as relatively low incomes. Previous attempts to promote industrial development included a period of protection and a focus on indigenous industry, followed by a more externally oriented free trade approach with a welcome for foreign investment after the late 1950s. By the mid-1980s, just before the boom, the economy was facing very serious problems, with record unemployment, a high rate of emigration and a major government financial crisis, as well as an industrial sector that was in crisis and an industrial policy that appeared to be failing.

Keywords: Industrialisation; Emigration; Protection; Foreign direct investment (FDI); Irish indigenous companies; Ireland; Industrial policy; Industrial Development Authority (IDA) (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-3-031-53070-8_2

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DOI: 10.1007/978-3-031-53070-8_2

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