4. Real GDP Per Capita
30000
25000
20000
15000
10000
5000
Year
1960 1970 1980 1990 2000
Irish Real GDP per Capita, 1950-2005. Source: Penn World Tables v. 6.2, CSO.ie, and author's calculations. Penn Data available here, CSO
data available here.
5. Irish Real GDP Growth 1990-2005
http://www.esri.ie/irish_economy/
9. Ireland & EU Unemployment Rates, 1996-2003
% of labour force
14
12
10
8
6
4
2
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
EU 25 Ireland
10. General Government Debt, EU and Ireland
% of GDP
100
90
80
70
60
50
40
30
20
EU 25 Eurozone 12
10
Ireland (% of GDP) Ireland (% of GNI)
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
http://www.cso.ie/releasespublications/measuringirelandsprogress2005.htm
11. 1 Euro’s worth in bilateral exchange rates,
1999-2005
value of €1
1.60
1.40
1.20
1.00
0.80
0.60
0.40
US dollar Pound sterling 100 Japanese yen
0.20
0.00
1999 2000 2001 2002 2003 2004 2005
12. EU and Ireland Public Balance, 1996-2004
Eurozone 12 % of GDP
Ireland 6
3% of GDP deficit limit under EMU Stability and Growth Pact
4
2
0
-2
-4
-6
1996 1997 1998 1999 2000 2001 2002 2003 2004
13. Ireland: Central and Local Govt
Expenditure as a % of GDP
40.0
30.0
% GDP
20.0 % of GDP
10.0
0.0
95
96
97
98
99
00
01
02
03
5
04
19
19
19
19
19
20
20
20
20
20
Year
14. % GDP
Lu
xem
bo
20.0
40.0
60.0
80.0
0.0
100.0
120.0
140.0
Ir urg
el
Cz
Sl an
ec o d
h va
Re k
i
N
et pu a
he bl
rla ic
nd
Au s
st
Cy ria
D pr
en us
G ma
er rk
m
an
Po y
la
nd
It
al
Sp y
G ain
re
N ece
EU Exports of Goods and Services, 2003
or
w
Ic ay
el
an
d
16. Ireland: Science and technology graduates, per 1,000
population aged 20-29, 1995-2004
per 1,000 population
aged 20-29
Males Females
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
17. Ireland & EU spending on Social Protection, 1996-2003
%
30
25
20
15
10
EU 15 (% of GDP)
EU 25 (% of GDP)
5
Ireland (% of GDP)
Ireland (% of GNI)
0
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
18. Idea of Fiscal Policy
% change
GDP
Growth rate of potential GDP
Actual growth rate
Inflation gap
Unemployment gap
Time
25. Caution....
• SOE is extremely susceptible to external
‘shocks’
• FP tends to have more impact on the BoP then
on employment or prices
• Multiplier effect is very weak in a SOE because
of a high MPM
26. • Increase in taxation rather than reducing
current expenditure
• Loss of confidence in the economy which led to
a higher level of interest and a higher EBR and
national debt
• Global Economic downturn