Application of growth economic theory on Ireland comparing to southern countries of eurozone (PIIGS)

The Ireland´s recovery from the crisis that broke in the Irish economy was fast comparing to other eurozone nations so-called PIIGS. Therefore, the thesis identify sources and turning points that generate the inclusive growth of the Irish economy. Economic growth comes from the accumulation of labour and capital inputs combined with improvements in the productivity of labour associated with technological progress. There are clear signals that all these factors contribute to the economy growth in Ireland. Ireland benefits from large inflows of foreign direct investment that helps to spread technological progress, know-how into the country. This has resulted in export of hi-tech goods and services. Labour force in Ireland are skilled individuals. In addition, both, labour force and labour market in Ireland are highly adaptable to change. Above mentioned drivers and others are fundamental to economic growth. Overall, Ireland´s economy is reasonably well established and it has made significant progress in many areas that contrast with southern economies in PIIGS group.