Reassessing Ireland’s economic development through the lens of sustainable development

Abstract

After a century of Irish independence, this study constructs long run Genuine Savings estimates, a leading economic indicator of sustainable development, to reassess Irish economic history from the vantage of sustainable development. The main difference uncovered surrounds the post-1950 period where Ireland failed to achieve economic convergence and was considered an economic failure in growth terms. From a sustainability perspective, Ireland may have been an overachiever during a “great transition” of sustainable development driven by improved institutions and policies. The findings show the value of the sustainable development perspective in shedding new light on a country’s development experience.