The document discusses state-business cooperation in Ireland and Latvia from 1912 to 2012. It describes how:
1. Both Ireland and Latvia experienced population losses in the early 20th century but have since recovered through cooperation between government and business.
2. Ireland attracted foreign direct investment through agencies like the Industrial Development Authority and Enterprise Ireland that offered tax incentives, infrastructure support, and a streamlined regulatory process.
3. Government can influence policies that support business through specialist media to initiate ideas, popular media to disseminate them, and networks and events to socialize the ideas with stakeholders.
The document discusses recent economic trends and anxieties in Japan from the perspective of a Japanese government official. It describes Prime Minister Koizumi's economic reforms in the early 2000s that aimed to reduce government spending and promote structural reform. However, these reforms failed to cure Japan's persistent deflation and economic stagnation. Younger generations in Japan feel anxious about their future financial security due to factors like declining wages, cuts to pensions, and concerns over supporting the aging population. Under these conditions of anxiety and uncertainty, Japanese consumers and businesses have become increasingly conservative with spending and hiring.
The document summarizes the major events of the 2007-2010 global financial crisis. It begins by describing how the crisis originated from the subprime mortgage crisis in the US housing market in 2007. It then discusses how the crisis spread globally and the actions taken by central banks to inject liquidity. Key events that unfolded over the next years included bank failures, government bailouts, and the official declaration of a recession. The document also examines various causes of the crisis such as unethical behavior in the financial industry and risky lending practices. Finally, it discusses regulatory reforms proposed in response to the crisis.
1) The document discusses concerns around increasing public debt levels in advanced economies and how this may hamper future growth. It outlines the economic impacts of the 2008 financial crisis and rising debt levels globally.
2) It analyzes different policy options for addressing high debt such as debt restructuring, inflation, fiscal consolidation, and promoting economic growth. Each option is assessed in terms of strengths, weaknesses and feasibility.
3) The recommendation is that no single approach will work and a combination of transparency, accountability, fiscal repression, and selective fiscal consolidation can help curb debt growth while promoting economic recovery.
Following Presentation deals with brief outline over what is known as "Global Recession". It has novice friendly language and attention seeking approach.
The Peter G. Peterson's State of the Union's Finances: A Citizen's Guide provides a comprehensive look at America's finances. The guide is broken out in the three sections 1.) Executive Summary 2.) Our Growing Fiscal Challenge 3.) Solutions
The document discusses President Obama's $447 billion jobs plan called the "American Jobs Act" which aims to stimulate the economy and create jobs through tax breaks, infrastructure spending, and aid to state and local governments. It also discusses the debate around reducing the federal budget deficit and national debt. While the deficit and debt have increased, the unemployment rate remains high, representing a serious jobs crisis. Some argue the focus should be on stimulating the economy and reducing unemployment rather than deficit reduction in the short term.
Briefing Note: Can regular government publication of indicators play a role i...Antony Upward
A briefing note to the Premier of Ontario, reviewing the benefits of moving to publish an alternative to GDP on a regular basis - for example Genuine Progress Indicator (GPI) and Gross National Happiness (GNH).
For my York University / Schulich School of Business Graduate Degree in Environmental Studies / Graduate Diploma in Business and the Environment.
The document discusses recent economic trends and anxieties in Japan from the perspective of a Japanese government official. It describes Prime Minister Koizumi's economic reforms in the early 2000s that aimed to reduce government spending and promote structural reform. However, these reforms failed to cure Japan's persistent deflation and economic stagnation. Younger generations in Japan feel anxious about their future financial security due to factors like declining wages, cuts to pensions, and concerns over supporting the aging population. Under these conditions of anxiety and uncertainty, Japanese consumers and businesses have become increasingly conservative with spending and hiring.
The document summarizes the major events of the 2007-2010 global financial crisis. It begins by describing how the crisis originated from the subprime mortgage crisis in the US housing market in 2007. It then discusses how the crisis spread globally and the actions taken by central banks to inject liquidity. Key events that unfolded over the next years included bank failures, government bailouts, and the official declaration of a recession. The document also examines various causes of the crisis such as unethical behavior in the financial industry and risky lending practices. Finally, it discusses regulatory reforms proposed in response to the crisis.
1) The document discusses concerns around increasing public debt levels in advanced economies and how this may hamper future growth. It outlines the economic impacts of the 2008 financial crisis and rising debt levels globally.
2) It analyzes different policy options for addressing high debt such as debt restructuring, inflation, fiscal consolidation, and promoting economic growth. Each option is assessed in terms of strengths, weaknesses and feasibility.
3) The recommendation is that no single approach will work and a combination of transparency, accountability, fiscal repression, and selective fiscal consolidation can help curb debt growth while promoting economic recovery.
Following Presentation deals with brief outline over what is known as "Global Recession". It has novice friendly language and attention seeking approach.
The Peter G. Peterson's State of the Union's Finances: A Citizen's Guide provides a comprehensive look at America's finances. The guide is broken out in the three sections 1.) Executive Summary 2.) Our Growing Fiscal Challenge 3.) Solutions
The document discusses President Obama's $447 billion jobs plan called the "American Jobs Act" which aims to stimulate the economy and create jobs through tax breaks, infrastructure spending, and aid to state and local governments. It also discusses the debate around reducing the federal budget deficit and national debt. While the deficit and debt have increased, the unemployment rate remains high, representing a serious jobs crisis. Some argue the focus should be on stimulating the economy and reducing unemployment rather than deficit reduction in the short term.
Briefing Note: Can regular government publication of indicators play a role i...Antony Upward
A briefing note to the Premier of Ontario, reviewing the benefits of moving to publish an alternative to GDP on a regular basis - for example Genuine Progress Indicator (GPI) and Gross National Happiness (GNH).
For my York University / Schulich School of Business Graduate Degree in Environmental Studies / Graduate Diploma in Business and the Environment.
1) The UK economic recovery stalled in 2011 and the Eurozone sovereign debt crisis continued to impact markets. Unemployment rose to its highest level since 1994 while youth unemployment reached a record high.
2) Forecasts for 2012 GDP growth remain low at around 0.7% and inflation is falling but remains above target. Exports are seen as important to the recovery but the trade deficit fell in late 2011.
3) Businesses are advised to remain flexible and regularly update plans as the economic situation remains uncertain and volatile. Support is available for exporting and taking advantage of any opportunities that may arise.
State of the Construction and Surety Industry Report (2010)Lisa Dehner
The document provides an overview of the state of the construction and surety industries in 2010. It summarizes that the recession officially ended in June 2009 according to the National Bureau of Economic Research, though the economic recovery has been slow. The construction industry continues to struggle with low growth across most sectors. Contractor failures are rising as fewer projects lead to increased competition. Surety industry losses grew nearly 50% from 2008 to 2009 and the fourth surety loss cycle is expected to result in increasing loss ratios through 2012.
Eco 203 entire course principles of macroeconomicsProfessorLance
This document outlines an entire economics course covering macroeconomic principles and policies. It includes multiple discussion prompts and assignments on topics like human capital, opportunity costs, market allocation of resources, inflation, fiscal and monetary policy, government budget deficits, foreign investment, and economic transitions. Students are asked to discuss these topics, respond to classmates, and write a final paper on expansionary fiscal and monetary policy. The final paper must be 5-6 pages and include at least 4 scholarly sources on how governments use fiscal and monetary tools to stimulate aggregate demand, GDP, and employment during an economic recession.
The document discusses the national debt of the United States, which currently stands at over $18 trillion. It explores the history of rising US debt levels and the economic effects of increasing versus consolidating the debt. Increasing debt leads to higher interest rates, less investment, and reduced GDP growth. Consolidating debt has short-term negative effects but long-term benefits like lower interest rates and more funding for programs. The document also examines threats of sovereign default and financial crises based on examples from other countries.
The document defines a recession as two consecutive quarters of declining GDP according to the National Bureau of Economic Research. It then summarizes several historical US recessions from the 1930s to the Great Recession of 2007-2009, including their duration, GDP decline, unemployment rates, and primary causes such as financial crises, wars, and changes in government policy. Common effects of recessions are listed as bankruptcies, unemployment, and deflation. While India was less impacted than other countries, its growth declined and key sectors like IT, banking, and automobiles were affected.
State of the Construction and Surety Industry Report (2009)Lisa Dehner
This document provides an overview of the state of the U.S. economy, construction industry, and surety industry. It finds that the current recession began in December 2007 and is the longest since the Great Depression. Both the construction industry and stock market typically follow trends in GDP. While the private construction sector has declined, public construction is forecast to grow due to a $131 billion stimulus package. Contractor profits are decreasing and surety losses are expected to rise in the coming years as economic conditions remain challenging.
The document provides an overview of public debt including its definition, history, types and trends in developing countries. It discusses how the role of governments has increased over time leading to rising public debt levels. Developing countries in particular have experienced growing debt burdens due to factors like budget deficits, economic crises, and infrastructure development needs. Prudent management of public debt is important to control costs and risks. The objectives of debt management include meeting government borrowing needs at minimum cost while developing domestic capital markets.
The global financial crisis of 2007-2009 and subsequent Great Recession constituted the worst shocks to the United States economy in generations. Books have been and will be written about the housing bubble and bust, the financial panic that followed, the economic devastation that resulted, and the steps that various arms of the U.S. and foreign governments took to prevent the Great Depression 2.0. But the story can also be told graphically, as these charts aim to do.
What comes quickly into focus is that as the crisis intensified, so did the government’s response. Although the seeds of the harrowing events of 2007-2009 were sown over decades, and the U.S. government was initially slow to act, the combined efforts of the Federal Reserve, Treasury Department, and other agencies were ultimately forceful, flexible, and effective. Federal regulators greatly expanded their crisis management toolkit as the damage unfolded, moving from traditional and domestic measures to actions that were innovative and sometimes even international in reach. As panic spread, so too did their efforts broaden to quell it. In the end, the government was able to stabilize the system, re-start key financial markets, and limit the extent of the harm to the economy.
No collection of charts, even as extensive as this, can convey all the complexities and details of the crisis and the government’s interventions. But these figures capture the essential features of one of the worst episodes in American economic history and the ultimately successful, even if politically unpopular, government response.
Charting the Financial Crisis: A Narrative eBookShavondaBrandon
The global financial crisis of 2007-2009 and subsequent Great Recession constituted the worst shocks to the United States economy in generations. Books have been and will be written about the housing bubble and bust, the financial panic that followed, the economic devastation that resulted, and the steps that various arms of the U.S. and foreign governments took to prevent the Great Depression 2.0. But the story can also be told graphically, as these charts aim to do.
What comes quickly into focus is that as the crisis intensified, so did the government’s response. Although the seeds of the harrowing events of 2007-2009 were sown over decades, and the U.S. government was initially slow to act, the combined efforts of the Federal Reserve, Treasury Department, and other agencies were ultimately forceful, flexible, and effective. Federal regulators greatly expanded their crisis management toolkit as the damage unfolded, moving from traditional and domestic measures to actions that were innovative and sometimes even international in reach. As panic spread, so too did their efforts broaden to quell it. In the end, the government was able to stabilize the system, re-start key financial markets, and limit the extent of the harm to the economy.
No collection of charts, even as extensive as this, can convey all the complexities and details of the crisis and the government’s interventions. But these figures capture the essential features of one of the worst episodes in American economic history and the ultimately successful, even if politically unpopular, government response.
Who Profits from Peace? Belfast Trades Council Mayday Lecture 2013Conor McCabe
This document summarizes key points from a lecture on financialization in Ireland and the UK. It discusses how monetary policy shifted in the 1970s-2000s to increasingly favor financial markets and asset prices over wages and employment. This contributed to the growth of sectors like finance, insurance, and real estate (FIRE) at the expense of production. Policies of privatization, spending cuts, and austerity have furthered this shift. The document also examines the European debt crisis and ECB responses like long-term refinancing operations that bailed out banks but did little for economic growth or employment. Overall, it analyzes how financialization has restructured economies to privilege rentiers and asset speculation over workers.
The document discusses the causes and effects of the global financial crisis that began in 2007. It describes how the crisis originated from risky subprime mortgages in the US that were packaged into securities and spread throughout the global financial system. When housing prices declined and borrowers defaulted, it triggered a financial crisis that caused stock market declines, limited investment banking, and severe recessions around the world. Governments responded with stimulus packages, interest rate cuts, and bank bailouts to stabilize markets and economies. Reforms are still needed to prevent future crises through improved financial regulations and oversight.
The document discusses the growing fiscal challenges facing the United States, including rising budget deficits and national debt levels. It notes that while near-term deficits are largely due to temporary factors like the recession and stimulus measures, long-term structural deficits pose a serious threat if left unaddressed. In particular, rising healthcare costs and spending on entitlement programs like Medicare and Medicaid are projected to account for an unsustainable portion of the federal budget going forward. Urgent action is needed to put the country's fiscal policies on a more sustainable path.
This document contains answers to questions for an Economics 203 Week 1 Quiz. It discusses topics like how income and demand relate, different types of investment, factors that can shift demand curves, production decisions regarding labor and technology, how price and quantity relate, the role of government in redistributing income and allocating resources, and more. It provides context and questions for online discussions on topics such as human capital, the roles of government and private sectors, impacts of changes in aggregate demand, how inflation affects different groups, fiscal policy approaches like stimulus packages, national debt and budget deficits, and efforts to reduce deficits.
Why we will not experience a DepressionGaetan Lion
- The document discusses how government interventions on an unprecedented scale, including fiscal stimulus packages, monetary policy actions, and financial industry bailouts, will help prevent another Great Depression.
- During the Great Depression, bad government policies exacerbated the situation, but current interventions aim to stimulate the economy and stabilize financial markets.
- Corporations, small businesses, and households have strong financial positions and ability to finance themselves, giving government policies time to take effect before a depression could occur.
The file highlights the importance of the macro-economics related to a country's budget. Lot of guidance has been taken from www.mrunal.org where the concepts have been very lucidly explained.
The stagnant u.s. economy and the imbalances of savings and incomesFederico Dominguez
This document provides an analysis of the 2008 financial crisis. It discusses how financial deregulation in the late 1990s/early 2000s allowed large financial institutions to combine commercial and investment banking, which increased risk. Easy monetary policy and high commodity prices fueled a housing bubble from 2001-2005. Complex financial instruments like securitization and credit default swaps spread risk throughout the system but also enabled speculation. The crisis erupted in 2008 when the housing bubble burst, exposing overleveraged financial institutions and precipitating a broader economic crisis.
The document discusses disruption in the financial services industry due to technological and societal changes. It notes that exponential changes in computing, communication, storage and networking have reset the business environment. Traditional competitive advantages and business models are challenged. Innovation will be key to success as fuzzy sector borders emerge and customer expectations change. Culture and the ability to attract the right professionals will determine competitive advantage more than financial metrics.
This document analyzes the implications of Brexit for the voluntary sector in the UK. It finds that in the short term, Brexit will lead to uncertainty as the government delays major decisions until negotiations are further along. This may cause funding and policy paralysis. In the long term, Brexit could reduce EU funding and public spending on services. It may also exacerbate social tensions and divisions in communities. The voluntary sector has an important role to play in bringing people together and ensuring vulnerable voices are heard during the Brexit process.
Who Benefits From Austerity? Mechanics Institute Limerick, May 2013Conor McCabe
This document discusses how austerity benefits financial interests over workers and how monetary policy has increasingly focused on supporting asset prices rather than full employment. It argues that neoliberalism privileges financial speculation and has weakened the post-war compromise between labor and capital. Central banks now prioritize financial asset appreciation over wage growth. Austerity has also closed or reduced funding for many equality organizations in Ireland that advocate for women, minorities, people with disabilities, etc.
Stian Westlake: the quiet rebirth of industrial policyNesta
Through a glass, darkly discusses industrial policy and innovation in the UK. It notes that productivity growth has lagged after recessions. It explores how to talk about industrial policy without "picking winners", and how innovation has contributed significantly to economic growth. The document outlines challenges with the current technocratic approach to innovation policy and proposes nine ways to open policy debates, including increasing funding, rebalancing research and development spending, learning from other countries' models, supporting clusters, and addressing short-termism in business.
The Economic Crisis of 2008 (US Housing Bubble) - Inside Job Movievalliappan1991
This document clearly narrates the events that led to the economic crisis of 2008 resulting in a global recession. In 2008, many global banks collapsed and had to be bailed out by the US government.
1) The UK economic recovery stalled in 2011 and the Eurozone sovereign debt crisis continued to impact markets. Unemployment rose to its highest level since 1994 while youth unemployment reached a record high.
2) Forecasts for 2012 GDP growth remain low at around 0.7% and inflation is falling but remains above target. Exports are seen as important to the recovery but the trade deficit fell in late 2011.
3) Businesses are advised to remain flexible and regularly update plans as the economic situation remains uncertain and volatile. Support is available for exporting and taking advantage of any opportunities that may arise.
State of the Construction and Surety Industry Report (2010)Lisa Dehner
The document provides an overview of the state of the construction and surety industries in 2010. It summarizes that the recession officially ended in June 2009 according to the National Bureau of Economic Research, though the economic recovery has been slow. The construction industry continues to struggle with low growth across most sectors. Contractor failures are rising as fewer projects lead to increased competition. Surety industry losses grew nearly 50% from 2008 to 2009 and the fourth surety loss cycle is expected to result in increasing loss ratios through 2012.
Eco 203 entire course principles of macroeconomicsProfessorLance
This document outlines an entire economics course covering macroeconomic principles and policies. It includes multiple discussion prompts and assignments on topics like human capital, opportunity costs, market allocation of resources, inflation, fiscal and monetary policy, government budget deficits, foreign investment, and economic transitions. Students are asked to discuss these topics, respond to classmates, and write a final paper on expansionary fiscal and monetary policy. The final paper must be 5-6 pages and include at least 4 scholarly sources on how governments use fiscal and monetary tools to stimulate aggregate demand, GDP, and employment during an economic recession.
The document discusses the national debt of the United States, which currently stands at over $18 trillion. It explores the history of rising US debt levels and the economic effects of increasing versus consolidating the debt. Increasing debt leads to higher interest rates, less investment, and reduced GDP growth. Consolidating debt has short-term negative effects but long-term benefits like lower interest rates and more funding for programs. The document also examines threats of sovereign default and financial crises based on examples from other countries.
The document defines a recession as two consecutive quarters of declining GDP according to the National Bureau of Economic Research. It then summarizes several historical US recessions from the 1930s to the Great Recession of 2007-2009, including their duration, GDP decline, unemployment rates, and primary causes such as financial crises, wars, and changes in government policy. Common effects of recessions are listed as bankruptcies, unemployment, and deflation. While India was less impacted than other countries, its growth declined and key sectors like IT, banking, and automobiles were affected.
State of the Construction and Surety Industry Report (2009)Lisa Dehner
This document provides an overview of the state of the U.S. economy, construction industry, and surety industry. It finds that the current recession began in December 2007 and is the longest since the Great Depression. Both the construction industry and stock market typically follow trends in GDP. While the private construction sector has declined, public construction is forecast to grow due to a $131 billion stimulus package. Contractor profits are decreasing and surety losses are expected to rise in the coming years as economic conditions remain challenging.
The document provides an overview of public debt including its definition, history, types and trends in developing countries. It discusses how the role of governments has increased over time leading to rising public debt levels. Developing countries in particular have experienced growing debt burdens due to factors like budget deficits, economic crises, and infrastructure development needs. Prudent management of public debt is important to control costs and risks. The objectives of debt management include meeting government borrowing needs at minimum cost while developing domestic capital markets.
The global financial crisis of 2007-2009 and subsequent Great Recession constituted the worst shocks to the United States economy in generations. Books have been and will be written about the housing bubble and bust, the financial panic that followed, the economic devastation that resulted, and the steps that various arms of the U.S. and foreign governments took to prevent the Great Depression 2.0. But the story can also be told graphically, as these charts aim to do.
What comes quickly into focus is that as the crisis intensified, so did the government’s response. Although the seeds of the harrowing events of 2007-2009 were sown over decades, and the U.S. government was initially slow to act, the combined efforts of the Federal Reserve, Treasury Department, and other agencies were ultimately forceful, flexible, and effective. Federal regulators greatly expanded their crisis management toolkit as the damage unfolded, moving from traditional and domestic measures to actions that were innovative and sometimes even international in reach. As panic spread, so too did their efforts broaden to quell it. In the end, the government was able to stabilize the system, re-start key financial markets, and limit the extent of the harm to the economy.
No collection of charts, even as extensive as this, can convey all the complexities and details of the crisis and the government’s interventions. But these figures capture the essential features of one of the worst episodes in American economic history and the ultimately successful, even if politically unpopular, government response.
Charting the Financial Crisis: A Narrative eBookShavondaBrandon
The global financial crisis of 2007-2009 and subsequent Great Recession constituted the worst shocks to the United States economy in generations. Books have been and will be written about the housing bubble and bust, the financial panic that followed, the economic devastation that resulted, and the steps that various arms of the U.S. and foreign governments took to prevent the Great Depression 2.0. But the story can also be told graphically, as these charts aim to do.
What comes quickly into focus is that as the crisis intensified, so did the government’s response. Although the seeds of the harrowing events of 2007-2009 were sown over decades, and the U.S. government was initially slow to act, the combined efforts of the Federal Reserve, Treasury Department, and other agencies were ultimately forceful, flexible, and effective. Federal regulators greatly expanded their crisis management toolkit as the damage unfolded, moving from traditional and domestic measures to actions that were innovative and sometimes even international in reach. As panic spread, so too did their efforts broaden to quell it. In the end, the government was able to stabilize the system, re-start key financial markets, and limit the extent of the harm to the economy.
No collection of charts, even as extensive as this, can convey all the complexities and details of the crisis and the government’s interventions. But these figures capture the essential features of one of the worst episodes in American economic history and the ultimately successful, even if politically unpopular, government response.
Who Profits from Peace? Belfast Trades Council Mayday Lecture 2013Conor McCabe
This document summarizes key points from a lecture on financialization in Ireland and the UK. It discusses how monetary policy shifted in the 1970s-2000s to increasingly favor financial markets and asset prices over wages and employment. This contributed to the growth of sectors like finance, insurance, and real estate (FIRE) at the expense of production. Policies of privatization, spending cuts, and austerity have furthered this shift. The document also examines the European debt crisis and ECB responses like long-term refinancing operations that bailed out banks but did little for economic growth or employment. Overall, it analyzes how financialization has restructured economies to privilege rentiers and asset speculation over workers.
The document discusses the causes and effects of the global financial crisis that began in 2007. It describes how the crisis originated from risky subprime mortgages in the US that were packaged into securities and spread throughout the global financial system. When housing prices declined and borrowers defaulted, it triggered a financial crisis that caused stock market declines, limited investment banking, and severe recessions around the world. Governments responded with stimulus packages, interest rate cuts, and bank bailouts to stabilize markets and economies. Reforms are still needed to prevent future crises through improved financial regulations and oversight.
The document discusses the growing fiscal challenges facing the United States, including rising budget deficits and national debt levels. It notes that while near-term deficits are largely due to temporary factors like the recession and stimulus measures, long-term structural deficits pose a serious threat if left unaddressed. In particular, rising healthcare costs and spending on entitlement programs like Medicare and Medicaid are projected to account for an unsustainable portion of the federal budget going forward. Urgent action is needed to put the country's fiscal policies on a more sustainable path.
This document contains answers to questions for an Economics 203 Week 1 Quiz. It discusses topics like how income and demand relate, different types of investment, factors that can shift demand curves, production decisions regarding labor and technology, how price and quantity relate, the role of government in redistributing income and allocating resources, and more. It provides context and questions for online discussions on topics such as human capital, the roles of government and private sectors, impacts of changes in aggregate demand, how inflation affects different groups, fiscal policy approaches like stimulus packages, national debt and budget deficits, and efforts to reduce deficits.
Why we will not experience a DepressionGaetan Lion
- The document discusses how government interventions on an unprecedented scale, including fiscal stimulus packages, monetary policy actions, and financial industry bailouts, will help prevent another Great Depression.
- During the Great Depression, bad government policies exacerbated the situation, but current interventions aim to stimulate the economy and stabilize financial markets.
- Corporations, small businesses, and households have strong financial positions and ability to finance themselves, giving government policies time to take effect before a depression could occur.
The file highlights the importance of the macro-economics related to a country's budget. Lot of guidance has been taken from www.mrunal.org where the concepts have been very lucidly explained.
The stagnant u.s. economy and the imbalances of savings and incomesFederico Dominguez
This document provides an analysis of the 2008 financial crisis. It discusses how financial deregulation in the late 1990s/early 2000s allowed large financial institutions to combine commercial and investment banking, which increased risk. Easy monetary policy and high commodity prices fueled a housing bubble from 2001-2005. Complex financial instruments like securitization and credit default swaps spread risk throughout the system but also enabled speculation. The crisis erupted in 2008 when the housing bubble burst, exposing overleveraged financial institutions and precipitating a broader economic crisis.
The document discusses disruption in the financial services industry due to technological and societal changes. It notes that exponential changes in computing, communication, storage and networking have reset the business environment. Traditional competitive advantages and business models are challenged. Innovation will be key to success as fuzzy sector borders emerge and customer expectations change. Culture and the ability to attract the right professionals will determine competitive advantage more than financial metrics.
This document analyzes the implications of Brexit for the voluntary sector in the UK. It finds that in the short term, Brexit will lead to uncertainty as the government delays major decisions until negotiations are further along. This may cause funding and policy paralysis. In the long term, Brexit could reduce EU funding and public spending on services. It may also exacerbate social tensions and divisions in communities. The voluntary sector has an important role to play in bringing people together and ensuring vulnerable voices are heard during the Brexit process.
Who Benefits From Austerity? Mechanics Institute Limerick, May 2013Conor McCabe
This document discusses how austerity benefits financial interests over workers and how monetary policy has increasingly focused on supporting asset prices rather than full employment. It argues that neoliberalism privileges financial speculation and has weakened the post-war compromise between labor and capital. Central banks now prioritize financial asset appreciation over wage growth. Austerity has also closed or reduced funding for many equality organizations in Ireland that advocate for women, minorities, people with disabilities, etc.
Stian Westlake: the quiet rebirth of industrial policyNesta
Through a glass, darkly discusses industrial policy and innovation in the UK. It notes that productivity growth has lagged after recessions. It explores how to talk about industrial policy without "picking winners", and how innovation has contributed significantly to economic growth. The document outlines challenges with the current technocratic approach to innovation policy and proposes nine ways to open policy debates, including increasing funding, rebalancing research and development spending, learning from other countries' models, supporting clusters, and addressing short-termism in business.
The Economic Crisis of 2008 (US Housing Bubble) - Inside Job Movievalliappan1991
This document clearly narrates the events that led to the economic crisis of 2008 resulting in a global recession. In 2008, many global banks collapsed and had to be bailed out by the US government.
The Great Recession of 2008 was the worst economic downturn since the Great Depression. It originated in the United States due to a housing bubble and lax lending practices that led to many subprime mortgages being issued. As the housing market declined, it caused a financial crisis that spread globally. Major financial institutions collapsed and unemployment rose sharply in the US and Europe. The recession had significant impacts including job losses, declines in GDP, real estate prices and stock markets falling worldwide.
This summary provides high-level information from a document about notes from the OECD 3rd Annual Conference on the Global Forum on Productivity.
The document discusses:
1) Key points from several speakers about the importance of government policy, including central banking, to a well-functioning economy.
2) The likelihood that disruptive technologies will impact productivity and growth, and that this is "more likely than not" based on several studies cited.
3) The importance of taking a common cause approach to understanding productivity growth trends across countries over time.
The document summarizes a lecture on the economic challenges facing Greece. It discusses Greece's current account and budget deficits, the impact of the global financial crisis on Greece's key industries of tourism and shipping, challenges in reforming government spending and pensions, and concerns about contagion effects in other Eurozone countries with high debt levels.
Presentation at the conference “Are We in this Together? Innovation Capture and the Role of Public-Private-Partnerships in Providing Health Care Services“
Helsinki, 8 April 2015
Trudeau failed to properly implement Keynesian economics in Canada. Keynesian economics advocates for increased government spending and lower taxes to stimulate demand during economic downturns. However, Trudeau introduced tax hikes, poor fiscal management, and regressive policies like carbon taxes that hurt the economy rather than stimulate it. Additionally, private investment and business expansion are key drivers of job growth, not just increased government spending. While Keynesian policies may work in theory, Trudeau failed to execute them effectively in practice.
The Financial Situation in the World by Wouter van der StokFelix Meißner
The Financial Situation in the World” by Wouter van der Stok
Mr. Van der Stok will present a brief history of the present global Economic/Financial Crisis, an analysis of future developments of this Crisis over the next 3 to10 years and how this will affect, without any exception, "me" as a person, family, business, city, nation and groups of nations
HERE YOU FIND THE RECORDING:
http://tinyurl.com/5vcl5hd
Long-Term Sustainability of a Monetary and Fiscal UnionADEMU_Project
This document provides an overview of Jesús Fernández-Villaverde's presentation on the long-term sustainability of monetary and fiscal unions like the Eurozone. Some of the key ideas discussed are that monetary unions induce changes to member countries' political economies, both reinforcing and undermining sustainability. Understanding these changes is important to building a successful union. Evidence shows the euro reduced reform incentives in harder-hit periphery nations and increased them in Germany. Booms can obscure governance quality and change incentives and selection of politicians. There were two types of problems among troubled Eurozone nations: public debt issues for Greece and Portugal, and large real estate bubbles for Ireland and Spain.
The document discusses recession, its causes and impacts. It defines recession as a period of reduced economic activity lasting more than a few months, as measured by declines in GDP, income, employment, production and sales. Common causes are listed as currency/energy crises, underconsumption, overproduction and fiscal policy issues. The Great Recession of 2007-2009 is summarized as the largest global economic decline since WWII, caused by issues like the housing market crisis and excessive private debt levels. Impacts included credit crunches, reduced savings, unemployment and falling sales/profits. Government responses to recession through fiscal and monetary policies aim to stimulate aggregate demand and recovery.
Marketing Strategy Of Sprint And T MobileGina Alfaro
Sprint and T-Mobile are both majority owned by large international telecommunications companies, with Sprint owned by SoftBank and T-Mobile owned by Deutsche Telekom. The decision for Masayoshi Son, CEO of SoftBank, to end merger talks between Sprint and T-Mobile was difficult as combining the two companies would increase his ability to compete with AT&T and Verizon Wireless in the US wireless market. As the third and fourth largest wireless carriers in the US, a merger of Sprint and T-Mobile would give the combined company additional scale to better compete against the top two carriers.
The document summarizes a lecture given by Professor Vivien A. Schmidt from Boston University titled "Can the EU survive the EUROzone Crisis?". The lecture discusses whether the crisis stems more from economic or political failures and analyzes different perspectives on the problems and solutions. It examines issues like private versus public debt, austerity policies, lack of investment, and political leadership. The lecture concludes that the crisis involves problems with EU structures, policies, institutions and politics and that the EU needs better leadership, new ideas, reforms, and more democracy to survive.
Financial standards and economic developmentREJAY89
The document discusses the relationship between fiscal standards and economic development. It covers two main topics:
1) Public finance and short-term economic growth. It argues that fiscal tightening does not necessarily lead to a fall in GDP growth in the short term, as "non-Keynesian effects" can occur. Empirical studies show these effects are more likely for large, lasting adjustments focused on expenditure cuts rather than tax increases.
2) Public finance and long-term economic growth. It asserts that the impact of fiscal policy on long-term growth may be underestimated and under-researched. High budget deficits and debt can hamper growth by crowding out investment. The level and structure of both taxes and
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Marc Coleman – Co-operation of State and Business: Ireland and Latvia
1.
2. CO-OPERATION OF
STATE AND BUSINESS:
IRELAND AND LATVIA
Marc Coleman
Leading Irish Economic Commentator
3. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Marc Coleman, BA M Econ Sci ASP MBA
Economist (formerly ECB)
Broadcaster (Newstalk 106fm),
Columnist (Sunday Independent)
Author of 2 bestselling books
Keeping the “ Growth Flame” alive
by state-business
cooperation
4. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
This Presentation:
1. Ireland & Latvia 1912-2012: (Non-identical) twins.
2. How to influence government policy
3. What Government can do for business, Part 1:
Foreign Direct Investment & Choosing winners.
4. What Government can do for business, Part 2:
Other policies
5. Conclusion
5. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Part 1, Ireland & Latvia: 1912-2012
(Non-identical) Twins
6. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
1912-1916 Country loses half of population 1845-1858. Loss of national language near complete. Country reconciled
to British Empire. But artistic & cultural national revival and WW1 leads to 1916 rebellion and independence
process
1918-1922 End of WW1, Decl. of Independence, Anglo Irish treaty & Civil war. De facto Independence for south
1939-1945 Neutrality during war understandable given legacy of British persecution but leads to misunderstanding &
economic isolation
1972 – 1987 Entry into EEC. Sense of new potential, new alliances and horizons
But disastrous economic failure, rising government spending, taxation and stagnation
1987-1992 Drastic fiscal consolidation & mix of relative internal + external devaluation.
1992 saw irrevocable commitment to EMU – this was key to beginning of our boom.
1992-2004: Genuine high productivity boom. Population rises by a quarter, living standards by one half
2004-2009: Disastrous regression – for political reasons - to policies of high spending, weak financial regulation and
socialisation of economy and bank debt
2009-2012: Government remains too large as a result of 2004-2009 spending growth and socialised bank debt still a
chronic problem. Internal devaluation more modest than Latvia due to rigidities in public sector & other
sheltered sectors of economy.
2012: Irish external economy is recovering and the fiscal correction has been hailed internationally for its courage
and ambition. But bank debt and failure to extend internal devaluation to sheltered economy remain
critical challenges. Unfortunately our national language has – 100 years later – still to recover from previous
century. Challenge of globalisation & dominance of English.
7. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Part2: Influencing Government policy
Specialist
media
(initiation)
Govt policy
Popular Networks
media & events
(popularise) (disseminate)
8. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Part2: Influencing Government policy
Specialist Media: Academic journals
Business magazines / sections of newspapers
Trade / professional journals
Creates acceptability for ideas amongst policy elites/intelligensia. A vital first step.
Events/meetings/conferences: Business / employer conferences and dinners
Professional org. / Trade Union congresses
Political party or special policy conferences
These events are crucial to identify key stakeholders in a policy decision
Popular media: Newspapers
Radio/ TV
Social media including twitter, facebook
If a policy idea faces resistence these are crucial to ensure politicians
9. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
1. Irish Times
Economics Editor
2. Academic papers
3. Presentations
4. Think tank
www.nationalforum.ie
1. Stamp duty (property
tax) cut from 7% to 1%
2. Social partnership
model reformed (less
power to public interests
now)
3. Emphasis of fiscal
1. Newstalk radio show correction more on 1. Business & employer
spending cuts events & dinners
2. Sunday Independent
column (1m readers) 2. Government
sponsored policy
3. 2 books events
4. TV appearances 3. Meetings with other
journalists & politicians
10. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Example 1: Failure!
Warnings
about economic 2004 Dublin Economic Workshop conf: “Why Stability Treaty gravely weakened
http://www.marccoleman.ie/wp-content/uploads/2012/01/ESRI-paper-on-stability-pact.pdf
Later a paper of the Economic and Social Research Institute
overheating Sept „05 (Irish Times) I interview ECB President Jean Claude Trichet who indirectly
warns Irish financial authorities to tackle credit growth
http://www.marccoleman.ie/wp-content/uploads/2012/10/Trichet.pdf
July „06 (Irish Times) “Aimless, lopsided and unsustainable, our economy needs
remedial action now”
http://www.marccoleman.ie/wp-content/uploads/2012/01/He-had-a-good-run.pdf
2007: In various articles covering June 2007 election I warned that economic forecast
of parties were unrealistic, also promised based upon them
No impact
on Govt or
on
political July 2006: I proposed contingency plan for a recession at Govt party conference.
parties
Oct. 2006: At Irish Small & Medium Employers conference I warn recession
No would begin in 2008
popular
Feb-May 2007: At political party eleciton briefings I challenge economic forecasts of all
media main parties and ask what they will do if these
forecasted growth rates don’t materialise?
11. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Example 2: Success! 12 Dec. 2005: In Irish Times business section I use
technical
arguments to argue against EU plans to harmonise
Defence of Ireland’s corp. tax
low corporation tax http://www.irishtimes.com/newspaper/finance/2005/1202/11323302629
64.html
regime. Specialist
media
(initiation)
In Sunday Independent –
readership 1 million –
Govt policy
I argue against
harmonisation of
corporation
Tax using arguments and
ideas from Popular Networks
Irish history media & events
http://www.independent.ie/national-
news/no-surrender-to-others-getting- (popularise) (disseminate)
their-hands-on-our-taxit-is-time-that-
we-showed-the-rest-of-europe-a-bit-
of-steel-writes-marc-coleman-
1092510.html
I raise this this issue extensively at press
conferences held by
Government and at general election
briefings by political parties
12. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Example 3: Success! 1 Jan 2006: I call for abolition of stamp duty, a
tax on family homes
http://www.irishtimes.com/newspaper/finance/2006/0113/113411
7224050.html
Call for abolition of
6 June 2007: In Irish Times business section I
stamp duty on the repeat this call and warn of electoral
consequences:
family home. http://www.irishtimes.com/newspaper/finance/2007/0608/118072
1263038.html
Specialist
media
(initiation)
18 Nov 2007: In Sunday
Independent – readership 1
Govt policy
million –
I frame argument as battle
between overpaid
bureaucrats who want tax
maintained and majority of Popular Networks
voters & taxpayers media & events
http://www.independent.ie/opinion/anal
ysis/ministers-must-face-down-the- (popularise) (disseminate)
mandarins-1222400.html
I raise this this issue extensively at press
conferences held by
Government and at general election briefing
by political parties
13. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Other Examples & Results
Book 1 (bestseller) “The Best is Yet to Come” (Dec. 2007)
The book warned about crisis to come despite title, which is based on confidence in recovery by 2020 if Gov’t is tough &
thinks in long-term
Credible optimism based on long term trends, e.g. growth from 3.6 million in 1996 to forecasted 5 million by 2020
It stresses long-term supply side challenges including
Reform of electoral system to reduce influence of organised lobby groups
Better urban spatial and regional to channel population growth
Spending and tax reductions
Increased competition in markets.
Book 2 (bestseller) “Back from the Brink” (Nov. 2009)
I called for overhaul of financial regulation & banking. This begins in early 2010
I called for fair balanced reduction in public pay This occurred in December 2009
I called for reform of social partnership model New government committed to this in March 2011
These books contained ideas I expressed on radio (Newstalk 106-108fm) and in my articles (Sunday
Independent). But by putting them in book form they acquired a permanence and credibility, allowing them to
be taken seriously by policy makers
14. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Other Examples & Results
- Abolition of “Groceries Order”, an anti-competitive ban on below cost
selling
- 16 Sep’t 2005: Article in Irish Times warns that high cost of living could lead to a new political movement:
http://www.marccoleman.ie/wp-content/uploads/2012/10/A-silent-unhappy-majority-arrives-at-the-tipping-
point1.pdf
- Although written in “specialist media” business supplement of Irish Times, a TV programme at the same time raises
public concern and anger at rising price levels
- In January 2006, the Groceries Order is abolished
- In “Back from the Brink” I called for government to incentivise Research
and Development spending and direct third level research funding towards
job creation.
- See next section for results
- Call to defend programme of infrastructure spending against spending cuts
- More productive in long term
- Danger that this is cut too much as the “easy option”
- I challenged all political parties in 2007 election to promise not to use Capital spending as “line of
least resistance”
15. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Part 3:
What Government can do for
Business: Foreign Direct Investment
& Industrial Policy
16. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Industrial Development Authority (IDA)
• Note: Ireland has all-island population of 6.5 million but Republic is
just 4.6 million
• 1st country in world for value of Investment & 2nd country in world for
Inward investment per capita (IBM 2011 Global Location Trends report)
• 2nd most attractive country globally for FDI (2011 NIB/FDI Intelligence
Inward Investment Performance Monitor).
• Attracts more US investment than China, India and Russia combined.
See link for sources: http://www.idaireland.com/invest-in-ireland/fdi-in-
ireland/
17. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
How was it done?
Part 1: Industrial Development Authority (IDA)
• Established in 1959
• Vital policy supports from:
(a) Low corporation tax base
(b) Infrastructure policy, flexibly targetted
(c) No red tape
(d) A “one-stop shop” approach from government: IDA handles all policy issues
• Paraig White, IDA boss “The IDA laid the basis for pioneering foreign investment when Ireland
was an agricultural country … we identified the parmaceutical and emerging electronic industries
and then set about marketing Ireland as an environment with no red tape, a one-stop shop and
repackaging and presenting what was essentially zero tax on exports.
• 1982 IBM convinced that having HQ in a small country doesn’t prevent access to
larger ones
• 1985 Microsoft chooses Ireland
• 1992-1997 Dell, Intel, Merck Sharpe & Dohme, Pfizer
18. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
How was it done?
Part 1: Industrial Development Authority (IDA) … cont’d…
1992: A critical year:
-Irreversible commitment by Ireland to EMU, hence “inside” the club
-But good links & language connections with $ & £ economies
-Start of period of globalisation of world economy
-Also start of High tech FDI boom
1992-1996 -Dell, Intel, Pfizer, Merck Sharpe & Dohme, Hewlett Packard
and many more high profile companies locate in Ireland
Now -1,004 overseas companies employ 146,000 people & export €110bn
-Ireland exports €9 billion per month and exports rising at 18% p.a.
-Exports to China up 20% on August figure.
-Exports of indigenous companies to China up 10% in 2011
-Exports of indigenous companies to Germany, Eastern Europe, Baltic
States and Russia up 27% in 2011
19. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Enteprise Ireland (EI)
Goal…
…. to repeat FDI success with indigenous exporters
Sectors chosen include:
- Software
- Medical devices
- Cloud computing
- High technology food
- Traded services such as education (third level tuition)
2009
- Irish exports fell by 10%
- But thanks to EI Research & Development spending rose and as focused on
commercially relevant projects
- By 2010 exports had regained 70% of 2009 losses. In 2011 total exports recovered fully
and are now growing at healthy rates
- Follows Finnish example: Despite 25% spending cut after 1991 crisis R&D rose 20%
- Sean Baker, chairman of Irish
20. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Enteprise Ireland (EI)
Main functions:
1. Funding company start-ups and expansion
2. Exports: Preparing companies to enter international markets with market
research assistance, international office support and trade events. Also
leveraging Irish diaspora and diplomatic network to develop contact base
for Irish exporters
3. Research and Development: Funding and advice for R&D & innovation
activities
4. Management: Develop and pool management resources of small companies
5. Productivity: Conduct regular “health check-ups” of small firms and
benchmark their performance against international databases of
productivity indicators.
21. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Lessons for Latvia 1:
It can be done, but takes (at least 2) decades to come to fruition.
It requires stable, cross party support so that investors know policy regime will not change if the
government changes
Domestic economy not necessarily obstacle to FDI success. But:
- Patience and long range vision are vital
- Tax regime is vital.
- “One stop shop” approach of government to investors is vital.
- Flexibility - to adapt infrastructure and other policies to FDI needs – is vital
Choosing champions?
– Ask the Danes as they are the experts, leveraging simple agricultural base of economy
into production of Agricultural machinery, Insulin and wind energy
– Or the Finns and Swedes. Excellent 3rd level education. Hence Volvo, Ericsson, Nokia
– Finnish system of state sponsored innovation systems “Citra” is well worth studying.
– With exception of Food industry (Kerry Group, Avonmore) “choosing winners” not a
strong element of Irish policy to date. Ryanair is most successful Irish international
company and government did everything it could to kill it.
– Choose not sectors, but clever companies with potential to grow to at least €100 million
euro turnover within 10 years. Then focus resources on 2 or 3 of them.
22. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Lessons for Latvia 2
• There are some 37,000 Latvians in Ireland alone.
• Around 90,000 in the USA http://latviansonline.com/news/article/7862/
• Famous Latvian-Americans include
– Konstantīns Počs, Co-inventor of AWACS (Airborne Warning and Control System)
– Mark Rothko, painter
– Bob Dylan, musician
– Juris Upatnieks Physicist & Inventor of 3D holography
• The American Latvian Association cultivates cultural and historic links
http://www.alausa.org/en/what-we-do/conference-of-latvian-diaspora-archives-and-
material-culture/
• Question: What about economic links ?
• For IDA and Enteprise Ireland strong diaspora network is a huge help to their work.
• We are formalising diaspora policy with by hosting next year “The Gathering” for its
diaspora.
• Latvia should host and develop similar event and using it to develop small but useful
networks.
• Consider collaboration with fellow Baltic states to achieve Economies of Scale.
23. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Part 5:
What Government can do for
Business: Other Policies
24. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
3 Categories:
1. Monetary, exchange rate and banking policies
Ireland’s success from 1992 to 2004 shows that commitment to EMU and strong monetary regime
works. Average growth was over 6% per annum during this 12 year period.
Ireland’s crisis from 2004 to 2007 shows that when safe banking regulation is abandoned and when
economy is allowed to lose competitiveness, disaster results.
The Lesson: Internal monetary discipline must mirror commitment to external discipline.
2. Fiscal policies
1987-1992: Ireland fails to cut spending, raises taxes. Result = average GDP growth of 0.3%
1987-1992: Ireland cuts spending by 10% GDP. Result = average GDP growth of 3.3%
2008-2012: Success of Latvia’s adjustment – international devaluation and strong fiscal consolidation
proves that Latvia has learned lesson that Ireland learned in 1980s
The Lesson: When properly designed – cutting spending rather than raising taxes - austerity works.
When Austerity focuses on tax increases it is destined to failure.
The Irony: Ireland has forgotten the same lessons, taking too long to reduced spending.
25. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
3 Categories, continued…
3. Supply side policies
Ireland’s internal competitiveness failure given by some stark figures:
Between Jan. 2000 and July 2007 – the height of our boom:
- average price level rose by 34.5% (CPI)
- but educ, medical & local govt costs rose 73%, 103% & 232% respectively
Ireland’s internal devaluation since crisis too concentrated on private sector and as a result
weak.
Success of our exporters in Ireland is stunning. But small businesses with mainly domestic
demand face huge costs of doing busieness, driven mainly by state or semi state sector.
Latvia more successful in this respect
26. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
But Ireland has been successful in stabilising business conditions and
employment losses at 2005 levels by using a number of strategies:
- Strict avoidance of any increase in Ireland’s 12.5% corporation tax rate.
Also strong resistance to any proposals to harmonise Corp. tax base.
- Strict avoidance of further increases in tax rates and increase in tax
threshold for lower income workers
- Introducing a 3 year relief for start-up companies from payment of
corporation tax.
- A 25% R&D tax credit applied to the first €100,000 of qualifying spending.
This helps the vital job creating Small Medium Sized sector
- Greater flexibility in types of spending that qualify for this
A Procuring Innovation Initiative to give SME’s better access to market for
government contracts.
27. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Successful Irish supply side strategies, continued.
- Creation of a new Micro Enterprise Support structure (influenced by Finnish “Citra”)
within Enterprise Ireland to provide office support and advice to small companies
- Creation of mentoring and management development networks with Long-term
development programmes to cultivate business leadership
Introduction of credit guarantee scheme to target small business affected by the credit
crisis. Establishment of a Credit Review Office for businesses encountering problems with
banks.
- Creation of a €100 million micro Finance fund to help lending to small business.
- Establish a Global Irish Network of advocates to maximise investment, export and financing
opportunities of our Diaspora
- Foreign Earnings Deduction from income tax to help incentivise highly skilled individuals to work
overseas
28. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
Conclusions:
- Ireland and Latvia have very similar histories and challenges.
- You can influence government policies by “triangular” approach ensuring
that you begin with specialist media, use networks and then use popular
- Media to ensure politicians have necessary support from public
- Ireland & other nations can learn from Latvia‟s impressive & successful
fiscal policies and flexibility of its economy to devalue internally
- Ireland is still a world beater and model nation in relation to Foreign Direct
investment. Also enterprise development strategy is worth copying
- Nordic countries, particularly Denmark and Finland are better models for
“picking winners” regarding industrial policy
- Ireland has a good model for general pro business tax incentives and
company start up supports But Ireland lacks flexible internal markets
and is subject to stagnation in domestic demand and credit constraint
-
29. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
High level conference chairing and participation
30. SMS jautājumi – LTC un JAUTĀJUMU sūtiet uz 157 Tvītiem – #LTC_conf
www.marccoleman.ie
info@marccoleman.ie
00353(0)86 8094193