Celtiv Tiger

Abstract

The Celtic Tiger is a much researched and discussed pheromone. The boom which officially began in the 1990’s has transformed Ireland in a decade to one of the leading countries in the European Union. As the old saying goes success has many fathers but failure is always an orphan, two is the cause of the Celtic Tiger. There is a general consensus on the factors contributing to the success of the nation however strong arguments are still in play as to how important these factors actually were. This paper reviews 5 factors which are believed to have played a major role in the formation of the booming economy: Foreign Direct Investment, taxes, education, social partnership and membership to the European Union. Fiscal policies are also reviewed within the paper.

Table of Contents

Page

1. Abstract…………………………………………….. 1

2. Table of contents…………………………………… 2

3. Introduction………………………………………… 3

4. Brief History………………………………………... 4

4.1 1920-1950………………………………….. 4

4.2 1950’s……………………………………….. 4

4.3 1960’s……………………………………….. 5

4.4 1970’s………………………………………. 6

4.5 1980’s………………………………………. 6

4.6 1990 – Present………………………………. . 8

5 Causes………………………………………………….. 10

5.1 Foreign Direct Investment………………… 10

5.2 Taxes……………………………………….. 11

5.3 Education…………………………………… 13

5.4 Social Partnership…………………………. 14

5.5 EU membership……………………………. 17

6 Conclusion…………………………………………….. 19

7 Appendix………………………………………………. 20

8 References……………………………………………. 22

Introduction

In the last 20 years Ireland has evolved from being one of the most peripheral and poorest countries of Western Europe to one of the its most prosperous and successful nations. Ireland became the world’s uncontested economic star in the space of a decade, earning itself the name �the Celtic tiger’ (an analogue to the East Asian tigers). Today Ireland boasts the second highest GDP per capita in the