A political timebomb at the heart of Ireland’s FDI growth
This imbalance of FDI investment could stoke a future Brexit-style backlash
Recent Irish growth is not entirely a case of “leprechaun economics”; there is a real recovery under way. But it is a recovery that is led by the FDI sectors and heavily focused on a handful of industries, regions and types of worker. This is creating clear winners and losers, and if the recovery is not spread more broadly, the Irish growth model risks becoming a victim of its own success. The winners may not be able to form a successful electoral coalition to counter those who have not felt the recovery. Post-Brexit, this poses a serious dilemma for policymakers.
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