Causes Historian R. F. Foster argues the cause was a combination of a new sense of initiative and the entry of American corporations such as Intel. He concludes the chief factors were low taxation, pro-business regulatory policies, and a young, tech-savvy workforce. For many multinationals, the decision to do business in Ireland was made easier still by generous incentives from the Industrial Development Authority. In addition European Union membership was helpful, giving the country lucrative access to markets that it had previously reached only through the United Kingdom, and pumping huge subsidies and investment capital into the Irish economy.R. F. Foster, Luck and the Irish: A Brief History of Change 1970-2000 (2007), pp 7-36. Frederic Mishkin has also suggested that the economic boom partly resulted from the austerity plan of Charles Haughey (Taoiseach from 1987 to 1992). People and businesses expected a stable economy, boosting their confidence to spend and invest due to anticipated stability in output.
Causes Historian R F. Foster argues the cause was a combination of a new sense of initiative and the entry of American corporations such as Intel. He concludes the chief factors were low taxation, pro-business regulatory policies, and a young, tech-savvy workforce. For many multinationals, the decision to do business in Ireland was made easier still by generous incentives from the Industrial Development Authority. In addition European Union membership was helpful, giving the country lucrative access to markets that it had previously reached only through the United Kingdom, and pumping huge subsidies and investment capital into the Irish economy.R F. Foster, Luck and the Irish A Brief History of Change 1970-2000 (2007), pp 7-36. Frederic Mishkin has also suggested that the economic boom partly resulted from the austerity plan of Charles Haughey (Taoiseach from 1987 to 1992). People and businesses expected a stable economy, boosting their confidence to spend and invest due to anticipated stability in output.