Economic Policy, Income Convergence and Structural Change in the EU Periphery

Frank Barry

Chapter 9 in Europe and Globalization, 2002, pp 185-206 from Palgrave Macmillan

Abstract: Abstract Ireland’s remarkable economic performance over the course of the 1990s, which saw GNP per head rise from below 70 per cent to rough parity with the EU average, is frequently ascribed to its willing embrace of globalization. It is one of the most open economies in the world, not just in terms of the product market but of the labour market as well, and has by far the highest EU proportion of the manufacturing workforce employed in foreign-owned firms. Yet these have been features of the Irish economy ever since the 1970s, if not earlier, and Irish performance over most of the 1960s, 1970s and 1980s exemplified failure rather than success. There was no convergence over this period, with GNP per head remaining at around 65 per cent of the UK and EU levels. In fact the other EU periphery countries — Greece, Spain and Portugal — though less globalized, performed better in convergence terms during the 1960s.

Keywords: Income Convergence; Irish Case; Social Research Institute; Periphery Country; Foreign Industry (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3767-4_10

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DOI: 10.1057/9781403937674_10

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