dc.contributor.author | Smyth, Diarmuid | |
dc.date.accessioned | 2018-01-12T15:44:18Z | |
dc.date.available | 2018-01-12T15:44:18Z | |
dc.date.issued | 2017 | |
dc.identifier.citation | Smyth, Diarmuid. 'The Recovery in the Public Finances in Ireland following the Financial Crisis'. - Dublin: SSISI, Vol. XLVI, 2016-17, pp132-148 | en |
dc.identifier.issn | 00814776 | |
dc.identifier.other | JEL H12 | |
dc.identifier.other | JEL H60 | |
dc.identifier.other | JEL H63 | |
dc.description | read before the Society, 25 May 2017 | en |
dc.description.abstract | The turnaround in the fiscal position in Ireland over the past 6-7 years has been dramatic. From double-digit deficits, a rapidly rising debt ratio and entry into an EU/IMF support programme, by end 2015, the General Government deficit and debt ratios were down to 1.9 and 78.6 per cent of GDP, respectively – the latter falling by 40 percentage points in 3 years. This culminated in a successful exit from both the programme and the Excessive Deficit Procedure (EDP). Much of this progress reflects the hard choices made (beginning in 2008) to correct the public finances through a series of consolidation measures totalling €30 billion. The key role played by interest costs in facilitating this turnaround is however often overlooked as are a number of other well timed factors including data revisions and stronger than expected revenues. This paper takes a comprehensive look back at these factors and their roles in facilitating the exit from the EDP while also enabling higher levels of spending. | en |
dc.language.iso | en | en |
dc.publisher | SSISI | en |
dc.relation.ispartofseries | Journal of the Dublin Statistical Society; | |
dc.relation.ispartofseries | Vol. [No.], [Year]; | |
dc.subject | crisis management | en |
dc.subject | debt | en |
dc.subject | Ireland | en |
dc.subject.ddc | 314.15 | |
dc.title | The Recovery in the Public Finances in Ireland following the Financial Crisis | en |
dc.type | Journal Article | en |
dc.status.refereed | Yes | |
dc.rights.ecaccessrights | openAccess | |
dc.identifier.rssuri | http://www.ssisi.ie | |
dc.identifier.uri | http://hdl.handle.net/2262/82175 | |