Celtic Tiger 2001 , the second phase was observed in 2003 , the third peak - in 2008 . From 1996 to 2007, Ireland's gross domestic product increased by an average of 7.1% per year, which exceeded not only global indicators (3.2%), but also the indicators of fast-growing Asian countries (4.3%). Faster than Ireland, indicators grew only in certain Asian states (for example, China) [1] .
Most existing theories of economic growth do not explain such a powerful growth of the Irish economy [2] . Among the factors that ensured the “Celtic economic miracle” are such as: accession to the European Union and the euro zone [1] , investment in information technology , telecommunications , healthcare and pharmaceuticals , international and financial services, software products, e-commerce [ 3] ; investments in education [3] [4] , labor market reform [1] [4] and the tax system (by 2002, the tax rate for all companies reached 12.5%, which meant a radical decrease for local companies) [2] [ 3] , investments from the USA (including from Americans of Irish descent) [1] , low entry barriers, including language [5] .
In many ways, the economic recovery is considered a personal merit of the Prime Minister of Ireland, Bertie Ahern , whose early departure is associated with expectations of a recession [1] .
The term Celtic Tiger was used by dancer Michael Flatley when staging the eponymous Irish dance show .
Recession 2008-2009 and the Consequences of the Economic Boom
At the beginning of 2008, it was widely believed that a “soft landing” is possible after a sharp increase, but now in 2009 GDP is expected to decrease by 4% or more, possibly a budget deficit of one billion euros [6] .
Notes
- ↑ 1 2 3 4 5 Alexander Koksharov, correspondent for Expert magazine in London. "Celtic Tiger" at the crossing . Date of treatment January 8, 2009. Archived March 23, 2012.
- ↑ 1 2 Professor of Economics at the University of San Jose (California) and Research Fellow at the Mercatus Center at George Mason University Powell Benjamin. Economic freedom and growth: the history of the “Celtic tiger” . Date of treatment January 8, 2009. Archived February 18, 2011.
- ↑ 1 2 3 Alan Hobbs , vice president of the Industrial Development Agency of Ireland. Ireland - Celtic tiger . Date of treatment January 8, 2009. Archived March 23, 2012.
- ↑ 1 2 Alexander Boreyko. "Celtic Tiger" hunts for Russians . Date of treatment January 8, 2009. Archived February 18, 2011.
- ↑ Andrey Podvitsky. Celtic Tiger Leap . Date of treatment January 8, 2009. Archived February 18, 2011.
- ↑ Igor Ponomarev. Did the "Celtic Tiger" bust? . Date of treatment January 8, 2009. Archived February 18, 2011.
Literature
- The Celtic Tiger: Ireland's Continuing Economic Miracle by Paul Sweeney ISBN 1-86076-148-8
- After the Celtic Tiger: Challenges Ahead by Peter Clinch, Frank Convery and Brendan Walsh ISBN 0-86278-767-X
- The Celtic Tiger? : The Myth of Social Partnership by Kieran Allen ISBN 0-7190-5848-1
- The Making of the Celtic Tiger: The Inside Story of Ireland's Boom Economy by Ray Mac Sharry, Joseph O'Malley and Kieran Kennedy ISBN 1-85635-336-2
- The End of Irish History? : Critical Approaches to the Celtic Tiger by Colin Coulter, Steve Coleman ISBN 0-7190-6231-4
- The Celtic Tiger In Distress: Growth with Inequality in Ireland by Peadar Kirby, Peadar Kir ISBN 0-333-96435-7
- Can the Celtic Tiger Cross the Irish Border? (Cross Currents) by John Bradley, Esmond Birnie ISBN 1-85918-312-3
- Inside the Celtic Tiger: The Irish Economy and the Asian Model (Contemporary Irish Studies) by Denis O'Hearn ISBN 0-7453-1283-7
- OECD, (2002). OECD Information Technology Outlook. OECD, Paris.
- OECD (2004). OECD Information Technology Outlook. OECD, Paris.