Ireland has successfully overcome a large economic crisis. Getting the long-term unemployed back into work is the key to spreading the benefits of the recovery widely. Ireland can do more to facilitate skilled migration. Raising productivity requires boosting competition and innovation.
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This country note from Going for Growth 2015 for Ireland identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
Irish youth was hit hard by the crisis. New labour-market policy initiatives have been introduced recently, but more will be needed to limit scarring effects and keep youth connected so that they can get back to work as soon as the recovery strengthens.
With sound framework conditions, fine universities, good infrastructure and policies friendly towards foreign direct investment, Ireland scores high in international innovation scoreboards. Overall, policies to boost innovation and entrepreneurship are on the right track, but investment in knowledge-based capital could be made a more dynamic source of growth and jobs.
Ireland’s economy is now showing encouraging signs of recovery from the financial crisis, but more must be done to reinvigorate growth and create the jobs that will get the country back to full health, according to the OECD.
Young people have been hit hard by unemployment during the Irish recession. While much research has been undertaken to study the effects of the recession on overall labour market dynamics, little is known about the specific effects on youth unemployment and the associated challenges.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
After a recession of historic proportions, an export-led recovery is gaining traction in Ireland. The pace of recovery, however, varies sharply across sectors.
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances.
Ireland is recovering from an extremely large banking crisis born of over-exuberant property lending. The government has taken a wide range of measures to tackle the crisis over the past 3 years.