the impact that globalization has had on the economic development strategies inIreland

As once small Ireland opened it’s doors to the abundance of wealth and diversity of markets
in the global economy the impacts of globalization have trickled down making Ireland the
‘Celtic Tiger’ it is known as today. Ireland has successfully implemented a series of effective
economic development strategies that have seen it sustain GDP growth of over 8%pa in
recent years, government debt drop from 90% of GDP to 34% and the unemployment rate
fall from 17% to only 3.7%. These strategies have concentrated on openness to FDI inflows
(especially technology), tax cuts, trade and human capital development and the creation of a
favorable business environment whilst support from the EU and effective planning have
assisted along the way. Ireland has molded a set of development policies that have been
targeted to take advantage of the opportunities of globalization.
Ireland poised itself to benefit from larger FDI and capital markets created by globalization.
It successfully imp...