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Fri 07 Jul 2010Time for Ireland to set up new generation of checks and balances
Even before the crisis, our volatility was more in the range of emerging economies, writes ASHOKA MODY
IRELAND IS a rich country and despite the recent setback, the economy will continue to provide a high standard of living to the vast majority of Irish citizens. But unlike other countries that have reached this high level of income, the Irish economy is subject to a high degree of volatility. Even before the Great Recession exposed serious cracks in the economic structure and led to a precipitous fall in output, Ireland’s GDP volatility was more in the range of emerging economies than of advanced nations.
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