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SOE Policy and the Loss of Economic Sovereignty: The Case of Ireland

Author

Listed:
  • Donal Palcic
  • Eoin Reeves

    (Department of Economics, University of Limerick)

Abstract

The global financial crisis that erupted in 2008 has had enormous implications for the composition of the State-Owned Enterprise (SOE) sector in many advanced economies around the world. The crisis resulted in the nationalisation of financial institutions in a number of economies and many countries are currently pursuing policies of privatisation to raise much needed revenues to tackle high levels of indebtedness. This paper describes the changes to the composition of the Irish SOE sector since the onset of the economic crisis in 2008 as well as its impact on the stated plans for the future of the SOE sector. The paper focuses on the question of privatisation and examines the conditionality with regard to the sale of state assets contained in the bailout agreement signed between the Irish government and the Troika. It highlights the uncertainty over the precise details of the conditionality with regard to privatisation in Ireland and compares this with the agreements forged between the Troika and the governments of Greece and Portugal where there has been a far greater degree of conditionality attached to SOE divestitures.

Suggested Citation

  • Donal Palcic & Eoin Reeves, 2012. "SOE Policy and the Loss of Economic Sovereignty: The Case of Ireland," Working Papers WP022012, University of Limerick, Department of Economics, revised Sep 2012.
    • Handle: RePEc:lim:wpaper:022012
    as

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    File URL: https://ul-econ.github.io/RePEc/pdf/ul-econ-wp-2012-02.pdf
    File Function: Revised version, September 2012
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    References listed on IDEAS

    as
    1. Osama J. A. R. Abu Shair, 1997. "Privatization and Development," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-25374-6, December.
    2. Massimo Florio, 2006. "The Great Divestiture: Evaluating the Welfare Impact of the British Privatizations, 1979-1997," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262562227, April.
    3. Dónal Palcic & Eoin Reeves, 2011. "Privatisation in Ireland," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-29757-9, December.
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