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Posts in the "Investment" category

Social and economic investment holds the key

Posted on August 06, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Spending on productive capacity includes not just ‘bricks and mortar’ but all those resources that give rise to socially useful results over time. Spend today and reap a return in the future: this is the logic of investment. It can cover investment in education and skills as well as investment in knowledge and, of course, machinery, building, lands and equipment.  Not all forms of investment are equally productive and distortions can arise in favour of speculative, wasteful or socially destructive investment. In many cases the gains from investment are not fully captured by the private investor making the investment, this is common with investments in knowledge production for example, and significant under-investment can arise where private returns are perceived as too low or too risky. Lack of access to funds may also hamper investment if the cost of borrowing is too high or the terms and conditions too onerous.

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Permanent link | Categories: Government SpendingInvestmentJobs

Monday Blog—Review of 2014

Posted on July 27, 2015 by Tom Healy

This week's blog looks back at articles from 2014:

Topic

Date

Main Keyword

Other Keywords

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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLiving wageMacroeconomicsTaxationWages

TTIP in trouble

Posted on June 12, 2015 by Tom Healy

Last week an unprecedented even took place in the European Parliament. Following months of complex negotiation between the European Commission – on behalf of European Union Member States – and the United States of America  a resolution to the Parliament to be discussed and voted upon last Wednesday was postponed and the matter was referred back to the Trade Committee. This concerns the Transatlantic Trade and Investment Partnership (TTIP) a brief summary of which is provided at the very end of this blog. If you have followed the international debate about TTIP you probably belong to one of four groups:

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Permanent link | Categories: InequalityInvestmentMacroeconomics

Time to re-think enterprise policy

Posted on May 16, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

There is a view shared widely, North and South, that (i) the overall contribution of indigenous (or native) enterprises is underdeveloped, (ii) a large-scale reliance on foreign direct investment (especially in the case of the South), while welcome in itself, is not a sustainable long-term strategy, and (iii) something needs to be done about this even if it will take years to see the fruits of a long-term strategy. The recent Annual Donal Nevin lecture given by Professor Mariana Mazzucato marked an important contribution to a debate that needs to happen. Her message – based on many years of international empirical research and well summarised in her recent best-selling book, The Entrepreneurial State: Debunking Public vs Private Sector Myths – is that all actors including the state and its various agencies have an innovative role to play in generating new products and services to transform economies and societies.

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Permanent link | Categories: Government SpendingInvestment

'These truths we hold to be self-evident...'

Posted on April 25, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

‘These things we hold to be self-evident …. ‘ is a line taken from the 1776 USA Declaration of Independence.  Given the emerging debate  - such as it is – in the Republic of Ireland on matters to do with taxation, social spending and related areas it would seem that the following ten canonical statements are universally believed in, rarely contested and frequently asserted:

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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLabour costsMacroeconomicsTaxationWages

NERI Seminar: A Future Worth Working For

Posted on April 09, 2015 by Daragh McCarthy

Yesterday's seminar given by the Director of the NERI, Tom Healy, focused on setting the parameters for a clear, long-term vision for the Irish economy to emerge. The seminar is based on a recent working paper that argues this vision must be based on concrete goals that can be observed, measured and contrasted—as opposed to pious aspirations. The paper is not intended as a blueprint or model that is to be rolled out, but as a contribution to a debate on our economic future.

Over the course of the presentation, Dr Healy reviewed the key economic and social challenges facing the island of Ireland in the coming three decades and suggests an overarching framework to better understand:

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Permanent link | Categories: InequalityInvestmentJobsTaxationWages

From Strabane to Strangford Lough

Posted on March 07, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Northern Ireland rests on a very precarious political balance involving internal community relations, external relationships, social well-being and economic progress. In terms of overall size of the economy, including public spending, it accounts for a relatively small slice of the total UK picture. Yet, as a regional economy and polity it is highly vulnerable to fiscal, political and economic trends not only in the UK as a whole but in Europe and the world.

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Permanent link | Categories: Government SpendingInvestmentNorthern Ireland Taxation

NERI Seminar: Spatial Justice and Lessons from the Crisis

Posted on December 11, 2014 by Daragh McCarthy

Stand Logo - Nevin Economic Research Institute
Nevin Economic Research Institute

The latest NERI seminar, Some Lessons from the Crisis: Spatial Justice, Uneven Development and Future Choices, was held yesterday in the INTO Learning Centre. Gerry Kearns (professor of geography, Maynooth University) and David Meredith (senior research officer, Teagasc) outlined a concern that, as a society, we are lying the foundations for a return to a pro-cyclical economic merry-go-round resulting in further concentration of capital, social injustices and uneven spatial development. They highlighted the danger that despite the hardship and sacrifices that we ‘wasted a serious crisis’ (Rahm Emanuel).

In developing these ideas, the talk provided an overview of spatial changes in the composition of the labour force and youth migration patterns. This draws attention to the presence of long run trends towards economic agglomeration within some regions, weakening of others and the ultimate futility of repeating historical initiatives in the hope that this time the outcome will somehow be different.

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Permanent link | Categories: InequalityInvestmentJobsMacroeconomics

A roof over your head

Posted on November 22, 2014 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

A roof over your head is a fundamental human need and right. Purchasing or renting a place to live typically takes a big chunk of lifetime earnings or income. It is the biggest single cost facing most workers or households.  Recent decades have seen a significant change in the way people live, work and save over a lifetime.  Ireland and the UK tend to have higher shares of home ownership compared to many European countries and this has not changed over time. 

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Permanent link | Categories: Government SpendingInvestment

Things you always wanted to know about public finances in Northern Ireland but were afraid to ask (Part 1)

Posted on November 15, 2014 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Fiscal austerity has dominated public discourse across Europe for more than half a decade. The UK and Northern Ireland has been no exception. Recent weeks have seen growing controversy and political tension as public spending cuts imposed by the UK government continue to impact on the local provision of public services and incomes.

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Permanent link | Categories: Government SpendingInvestmentNorthern Ireland Taxation

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