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FROM BUST TO BOTTLENECKS: LESSONS FROM THE IRISH EXPERIENCE OF PUBLIC INVESTMENT AND FISCAL POLICY

Abstract:: Using the Irish experience of public investment and fiscal policy management over the last 25 years, we identify five core lessons. These concern (1) the need for sustained investment effort even when facing tough choices regarding public expenditure, (2) the importance of assessing the adequacy of public capital, (3) counter-cyclicality as an important principle of public investment, (4) crowding-in private investment and (5) the challenge for public investment caused by longer-term challenges such as the necessary climate transition. We also propose two overarching design suggestions for fiscal policy and investment management frameworks.

Publication status:: Published

Peer review status:: Peer reviewed

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APA Style

Bergin, A., Casey, E., Conroy, N., & McMahon, M. (2025). FROM BUST TO BOTTLENECKS: LESSONS FROM THE IRISH EXPERIENCE OF PUBLIC INVESTMENT AND FISCAL POLICY. National Institute Economic Review, 1–16.

MLA Style

Bergin, A, et al. “FROM BUST TO BOTTLENECKS: LESSONS FROM THE IRISH EXPERIENCE OF PUBLIC INVESTMENT AND FISCAL POLICY.” National Institute Economic Review, 2025, pp. 1–16.

Chicago Style

Bergin, A, E Casey, N Conroy, and M McMahon. 2025. “FROM BUST TO BOTTLENECKS: LESSONS FROM THE IRISH EXPERIENCE OF PUBLIC INVESTMENT AND FISCAL POLICY.” National Institute Economic Review, 1–16.
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Files:: Bergin_et_al_2025_FROM_BUST_TO.pdf

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Publisher copy:: 10.1017/nie.2025.10079

Authors

+ Bergin, A More by this author

Role:: Author

+ Casey, E More by this author

Role:: Author

+ Conroy, N More by this author

Role:: Author

+ McMahon, M More by this author

Institution:: University of Oxford
Division:: SSD
Department:: Economics
Sub department:: Economics
Role:: Author

Publisher:: Cambridge University Press
Journal:: National Institute Economic Review More from this journal
Pages:: 1-16
Publication date:: 2025-12-26
DOI:: 10.1017/nie.2025.10079
EISSN:: 1741-3036
ISSN:: 0027-9501

Language:: English
Keywords:: E62

Fiscal policy

H6

demographics

public investment

economic growth

productivity

climate transition
Pubs id:: 2360269
UUID:: uuid_10796712-82af-4e5b-90b3-880ebb06153e
Local pid:: pubs:2360269
Source identifiers:: 3601758
Deposit date:: 2025-12-26
ARK identifier:: ark:/29072/ora_1079671282af4e5b90b3880ebb06153e

Terms of use

Copyright date:: 2025

Licence:: CC Attribution (CC BY)

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