The "Celtic Tiger": Ireland's Journey to Economic Modernity: Difference between revisions
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<center>''"The name 'Celtic Tiger' emerged because Ireland's rates of growth in recent years have been sustained at levels close to those of the four Asian Tigers-South Korea, Taiwan, Hong Kong, and Singapore."'' | <center>''"The name 'Celtic Tiger' emerged because Ireland's rates of growth in recent years have been sustained at levels close to those of the four Asian Tigers-South Korea, Taiwan, Hong Kong, and Singapore."'' | ||
- Paul Sweeny[[1]]</center> | - Paul Sweeny[[1| Sources Page]]</center> | ||
Revision as of 00:16, 27 April 2006
Overview
The Irish economy has undergone an extensive transformation in the past several decades. At an all-time low in the mid 1980’s, Ireland’s unemployment rate reached 17 percent, job growth averaged -1.3 percent, and net emigration soared, peaking at forty-four thousand in 1989. Even until the early 1980’s Ireland remained a traditional, agricultural economy that seemed almost resistant to the industrialization process that was sweeping its neighboring countries. This state of economic depression is now contrasted to Ireland’s uninterrupted span of economic success that ignited in the early 1990’s. How was Ireland able to double its per capita income in just 11 years? And how did it come to have one of the lowest unemployment rates in the European Union? With such an impressive performance, this is truly the work of a “Celtic Tiger”.
