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Ireland: A New Economic History 1780–1939$
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Cormac Gráda Ó

Print publication date: 1995

Print ISBN-13: 9780198205982

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198205982.001.0001

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The Economic Performance of the Two Irelands, 1921–1939: Macroeconomic Policy and Living Standards

The Economic Performance of the Two Irelands, 1921–1939: Macroeconomic Policy and Living Standards

Chapter:
(p.420) 17 The Economic Performance of the Two Irelands, 1921–1939: Macroeconomic Policy and Living Standards
Source:
Ireland: A New Economic History 1780–1939
Author(s):

Cormac Ó Gráda

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198205982.003.0017

This chapter compares the economic performance of Northern Ireland and Southern Ireland from 1921 to 1939, with emphasis on macroeconomic policy and living standards. The statistical record hardly suggests that the Fianna Fáil government's fiscal policy in the 1930s was reckless. True, under Cumann na nGaedheal both taxes and public spending fell in nominal terms until 1929–30, while they rose slightly under Fianna Fáil. The most important boosts to Fianna Fáil spending included unemployment insurance and assistance (up from 0.2 million pounds in 1933–1934 to 0.9 million pounds in 1934–5), public works (from 0.6 million pounds in 1931–2 to 0.9 million pounds in 1938–9), and old-age pensions (from 2.7 million pounds in 1931–2 to 3.5 million pounds in 1938–9). An appendix comparing bond prices in Ireland and Britain in 1930–2 is included.

Keywords:   Northern Ireland, Southern Ireland, economic performance, macroeconomic policy, living standards, unemployment, fiscal policy, public spending, bond prices, Britain

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