OECD economic surveys : Ireland 1999 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Ireland

Language:

English

Subjects (All):

Fiscal policy--Ireland.

Fiscal policy.

Economic development--Ireland.

Economic development.

Ireland--Economic conditions.

Ireland.

Physical Description:

1 online resource (165 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1999]

Language Note:

English

Summary:

Assessment and recommendations I. The origins of the recent economic boom -Setting the scene: accounting for growth performance -Looking beneath the surface at the causes of Ireland's success -Summing up II. Prospects for sustained high growth and the role of policies -Recent economic trends -The setting of macroeconomic policies -Fiscal and incomes policies -Short-term outlook and risks -The sustainability of the boom -What policy can do to prolong the high-growth era III. Other structural policy reforms -Environment: preserving natural advantages -Agriculture: struggling with lower product prices -Competition: only a few mostly semi-state markets with monopoly rents -Public sector efficiency issues: partnership and privatisation -Financial sector developments: reacting to rising supervisory concerns -Copyright law reform: complying with international standards -Pensions: reform now before ageing gets underway -Health care: adjusting a system that works well -Human capital development: continuing to upgrade -Labour market policies: steps forward and backward -Income distribution: falling absolute poverty but possibly increasing dispersion Bibliography Annexes -I. Supplementary tables -II. Chronology of main economic events and policy measures.

Contents:

Intro

Table of contents

Assessment and recommendations

I. The origins of the recent economic boom

Setting the scene: accounting for growth performance

Table 1. Historical performance measures

Figure 1. Steadily improving cost competitiveness and market-share gains

Figure 2. Direct investment income

Table 2. Convergence of real GDP per capita, 1985-96

Figure 3. Private consumption levels in EU countries

Table 3. Supply-side factors in output growth

Figure 4. Different estimates of business capital and TFP growth

Looking beneath the surface at the causes of Ireland's success

Increased labour supply

Unusually favourable demographics

Table 4. Dependency ratios for OECD countries, 1985-2005

A tradition of emigration

Table 5. Migration by destination/origin and age group, 1992-98

Rising but still-low participation

Figure 5. Female participation rates in OECD countries

Figure 6. The generosity of social welfare benefits, 1977-98

Freed-up labour from shrinking agriculture

Improved education and skills

Table 6. Educational attainment and incentives to invest in human capital

EU structural funds

Increased openness and EU market integration

Figure 7. The change in trade in relation to GDP in the 1990's

Table 7. The total effect of the Single European Market programme on Ireland

The domestic policy environment

The part played by fiscal policy

A change in attitudes and institutions: the role of incomes policy

The important effect of industrial policy

Figure 8. The declining frequency and severity of industrial work stoppages

Figure 9. Ireland's corporate tax position

Table 8. State aid to the private sector, 1994-96

Successful attraction of foreign investors

Table 9. Ireland's receipt of OECD direct investment flows.

Table 10. Manufacturing plants: characteristics by ownership, 1996

Table 11. Recent trends in US foreign direct investement stocks and rates of return

Table 12. Irish economy expenditures of manufacturing firms

Favourable linkages and spin-offs

Figure 10. Rapid increases in Ireland's research and development outlays

Possible costs of the strategy

Figure 11. The share of services in output, 1986 and 1996

Summing up

II. Prospects for sustained high growth and the role of policies

Recent economic trends

Continuing strong growth in a virtuous circle

Figure 12. Outstanding Irish growth performance

Box 1. A small open economy as a production base

Table 13. Demand and output

Table 14. External trade

Table 15. The current account of the balance of payments

Tightened labour market

Table 16. Labour market

Figure 13. Employment and unemployment

Table 17. Prices, wages and profits

Figure 14. Consumer price inflation

Shortage of houses

Figure 15. House prices

Fast growth of money and credit

Table 18. Money supply and its counterparts

Table 19. Domestic credit to private sector by industry

Figure 16. Financial market developments

The setting of macroeconomic policies

Monetary policy

Exchange-rate convergence: limited appreciation

Figure 17. Exchange rate developments

Table 20. Capital account of the balance of payments

Interest rate convergence: the later, the better

Fiscal and incomes policies

Favourable out-turns of the 1997 and 1998 budgets

Table 21. Budgetary developments

Table 22. Central government accounts

Table 23. Indicators of fiscal stance

The 1999 budget

Table 24. Outline of income and corporate tax changes in 1998 and 1999

Figure 18. Gains from tax changes by income class.

Box 2. The effect of the introduction of tax credits and the hybrid nature of the tax system

Partnership 2000: a mid-term evaluation

Table 25. Main features of Partnership 2000

Effectiveness of policy mix of fiscal and incomes policies

Box 3. The Stability and Growth Pact

Short-term outlook and risks

Table 26. Recent economic indicators

Table 27. Short-term projections

The sustainability of the boom

Labour supply factors

Still strong demographic effects

Table 28. Sustainability as viewed from the supply side

Favourable participation effects as well

But drawing upon the stock of unemployed is almost exhausted

What to expect from productivity growth

What policy can do to prolong the high-growth era

Alleviating the housing constraint

Table 29. Summary of policy actions taken to stabilise house prices

Table 30. Housing tenure in OECD countries

Filling the infrastructure gap

Shifting the focus of industrial policy

Dealing with the EU: smoothing the phase&amp

hyphen

out of transfers

III. Other structural policy reforms

Environment: preserving natural advantages

Table 31. Waste water treatment

Table 32. Disposal methods for municipal solid waste in OECD countries

Agriculture: struggling with lower product prices

Competition: only a few mostly semi&amp

state markets with monopoly rents

Public sector efficiency issues: partnership and privatisation

Financial sector developments: reacting to rising supervisory concerns

Copyright law reform: complying with international standards

Pensions: reform now before ageing gets underway

Health care: adjusting a system that works well

Human capital development: continuing to upgrade

Labour market policies: steps forward and backward.

Table 33. Implementing the OECD Jobs Study _ an overview of progress

Table 34. Replacement ratios, 1995-99

Table 35. Expenditure on active labour market programmes

Table 36. The probable incidence of the proposed national minimum wage

Figure 19. Minimum wage ratios, 1997

Income distribution: falling absolute poverty but possibly increasing dispersion

Notes

Bibliography

Annex 1. Supplementary tables

Table A1. Medium-term growth outcomes - actual versus forecast

Table A2. The labour market costs of low educational attainment, 1997

Annex 2. Chronology of main economic events and policy measures

Boxes

Box 2. The effect of the introduction of tax credits and the hybrid nature of the tax system

Tables

Table 9. Ireland's receipt of OECD direct investment flows

Table 10. Manufacturing plants: characteristics by ownership, 1996

Table 18. Money supply and its counterparts.

Table 19. Domestic credit to private sector by industry

Table 33. Implementing the OECD Jobs Study - an overview of progress

Figures

Figure 12. Outstanding Irish growth performance.

Figure 13. Employment and unemployment.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-16732-3

OCLC:

1132391784