Economic Development in Ireland

Vértesy, László (2018) Economic Development in Ireland. Economic working papers . Institute of Economic Analysis, Budapest.

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Abstract

The process of the development of the Irish economic miracle is actually the history of the Irish economy starting in the 1950s, when the protectionist, import substitution economic policy that had characterized the country until then was changed. Today's Ireland is often referred to as the "Celtic Tiger", referring to the similarity with the performance of countries in South-East Asia, known as the "Little Tiger", which have achieved economic success and are admired worldwide. In the 1990s, Ireland produced spectacular economic growth, which, in addition to the substantial rise in the standard of living, the improvement of indicators relating to the state of health and other areas of well-being, the increase in the population's education, professional qualifications and the general level of culture, also enables the country to be included in the European We call it the "economic champion" of the Union. The Irish model shows that it is possible to break out of poverty by using favourable conditions and taking advantage of the opportunities that arise.

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