Income, Income Trends and their Implications for Recovery Strategies on the Island of Ireland
AuthorsMicheál Collins and Paul Mac Flynn
Keywords: regions, income, Ireland, Northern Ireland, recovery strategies
Since 2007 Ireland, North and South, has witnessed recession, austerity and externally imposed economic restructuring. Both territories have seen an end to property bubbles, surges in overall and youth unemployment and notable declines in economic output and disposable incomes. The challenge of rebuilding both regions socially and economically is likely to dominate the policy agenda in both regions over much of the decade to come.
This paper derives from emerging cross-border, inter-regional, research on incomes and income trends on the island of Ireland. Using data from the Republic’s Survey on Income and Living Conditions (SILC) and Northern Ireland’s Family Resources Survey (FRS), it initially benchmarks the most recent household and individual incomes in both regions and examines how these have changed over the period of the current economic crisis. To date there has been limited detailed empirical comparisons of these changes North and South. This paper marks a contribution to a research process/project intended to explore a number of the potential determinants of these income changes and their links to some of the strategies for growth which both regions need to pursue as they rebuild from the economic collapse.
The structure of the paper is as follows. The next section briefly overview the recent economic experiences in both regions. The data used in this paper is then outlined before the income trends established by the research are reported. Finally, the paper considers the implications of these trends for recovery strategies on the island of Ireland.
Paper published as: Collins, M.L. and P.Mac Flynn (2013). ‘Income, Income Trends and their Implications for Recovery Strategies on the Island of Ireland’ in editor(s) Regional Studies Association, Mobilising Regions: Territorial Strategies for Growth - Conference Proceedings. Seaford, United Kingdom, Regional Studies Association. ISBN: 978-1-897721-45-2.