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Industrial Policy in a Small Open Economy: The Case of Ireland

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Economic Planning and Industrial Policy in the Globalizing Economy

Part of the book series: Public Administration, Governance and Globalization ((PAGG,volume 13))

Abstract

In this chapter, I examine the origins of Ireland’s export-oriented industrial policy and review the success of this policy over the past 50 years. This is placed within the context of a remarkable history of both overall economic successes and failures of the small open Irish economy. The experience of Ireland also shows that industrial policy does not operate in a vacuum and failures in macro-economic, fiscal and banking policies can undermine the success of even the best designed industrial policies.

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Notes

  1. 1.

    See Walsh and Whelan 2010, pp. 283–299. (Walsh and Whelan also refer to the role played by Professor Louden Ryan of Trinity College, University of Dublin in the adoption of these views).

  2. 2.

    Sachs 1997.

  3. 3.

    Krugman 1997, p. 43.

  4. 4.

    Haughton 2008, p. 169.

  5. 5.

    This analysis is based on a separate study by Gray et al. 2009.

  6. 6.

    Krugman 1997, p. 47.

  7. 7.

    McAleese 2008, p. 52.

  8. 8.

    Tobin and Walsh 2013, pp. 401–424.

  9. 9.

    Gray 1997a, p. xx.

  10. 10.

    McAleese 1997, p. 14.

  11. 11.

    Krugman 1992, p. 35.

  12. 12.

    Arrow 1997, p. 7.

  13. 13.

    ForfĂ¡s Annual Employment Survey 2012.

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  1. Indecon Economic Consultants, Dublin, Ireland

    Alan W. Gray

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  1. Alan W. Gray
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Correspondence to Alan W. Gray .

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  1. Department of Economics, Istanbul Ticaret University, Istanbul, Istanbul, Turkey

    Murat YĂ¼lek

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Gray, A. (2015). Industrial Policy in a Small Open Economy: The Case of Ireland. In: YĂ¼lek, M. (eds) Economic Planning and Industrial Policy in the Globalizing Economy. Public Administration, Governance and Globalization, vol 13. Springer, Cham. https://doi.org/10.1007/978-3-319-06474-1_11

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