Fiscal Adjustment and Disinflation in Ireland: Setting the Macro Basis of Economic Recovery and Expansion

Patrick Honohan

Chapter 4 in Understanding Ireland’s Economic Growth, 1999, pp 75-98 from Palgrave Macmillan

Abstract: Abstract In a few short years in the latter half of the 1980s Ireland moved from a position of near-bankruptcy in the fiscal accounts to near balance. The improvement was sustained: having jumped to over 120 per cent in 1987, a decade later the debt-to-GDP ratio had fallen by almost one-half, and promised to slip below the demanding Maastricht target of 60 per cent by the start of EMU in 1999.

Keywords: Interest Rate; Exchange Rate Regime; European Monetary System; Real Appreciation; Primary Deficit (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1057/9780333985052_5

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