G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7811
DP7811 Whatever Happened to Ireland?
Morgan Kelly
发表日期2010-05-23
出版年2010
语种英语
摘要Abstract While Irish GNP quadrupled between 1990 and 2007, this Celtic Tiger growth came from two distinctive, sequential booms, with export driven growth during the 1990s being followed after 2000 by a credit fuelled construction boom. Bank lending rose from 60 per cent of GNP in 1997 to 200 per cent in 2008, causing a house price bubble and a building boom where 20 per cent of GNP came from construction. The collapse of the credit bubble leaves Ireland with high unemployment, uncompetitive wages, a large government deficit, and insolvent banks. Despite the Irish government's already having committed itself to spend the equivalent of half of GNP to cover bank losses on developer loans, substantial further spending will be necessary to cover losses on other loans.
主题International Macroeconomics
关键词Credit bubble Irish economy
URLhttps://cepr.org/publications/dp7811
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536648
推荐引用方式
GB/T 7714
Morgan Kelly. DP7811 Whatever Happened to Ireland?. 2010.
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