Political Economy of Secession: Lessons from the Early Years of the Irish Free State

Seán Kenny; Eoin McLaughlin

doi:10.1017/nie.2022.27

Political Economy of Secession: Lessons from the Early Years of the Irish Free State

Seán Kenny, Eoin McLaughlin

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Abstract

We apply insights from the political economy of secession to analyse the early years of the Irish Free State (IFS). The IFS was fortuitous in a debt settlement that enabled it to begin its existence debt free while also receiving financial assistance to quell civil unrest. Yet the IFS was unable to continue to provide the welfare spending inherited from the old regime thereby exacerbating inequality. The IFS also maintained a sterling peg, which led to a milder experience of the depression era. Ultimately, however, the benefits of independence were not forthcoming in the early years of the IFS.

Original language	English
Pages (from-to)	48-78
Number of pages	31
Journal	National Institute Economic Review
Volume	261
DOIs	https://doi.org/10.1017/nie.2022.27
Publication status	Published - 2022

Keywords

economic history
independence
Ireland
secession

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)

UN SDGs

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title = "Political Economy of Secession: Lessons from the Early Years of the Irish Free State",

abstract = "We apply insights from the political economy of secession to analyse the early years of the Irish Free State (IFS). The IFS was fortuitous in a debt settlement that enabled it to begin its existence debt free while also receiving financial assistance to quell civil unrest. Yet the IFS was unable to continue to provide the welfare spending inherited from the old regime thereby exacerbating inequality. The IFS also maintained a sterling peg, which led to a milder experience of the depression era. Ultimately, however, the benefits of independence were not forthcoming in the early years of the IFS.",

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N2 - We apply insights from the political economy of secession to analyse the early years of the Irish Free State (IFS). The IFS was fortuitous in a debt settlement that enabled it to begin its existence debt free while also receiving financial assistance to quell civil unrest. Yet the IFS was unable to continue to provide the welfare spending inherited from the old regime thereby exacerbating inequality. The IFS also maintained a sterling peg, which led to a milder experience of the depression era. Ultimately, however, the benefits of independence were not forthcoming in the early years of the IFS.

AB - We apply insights from the political economy of secession to analyse the early years of the Irish Free State (IFS). The IFS was fortuitous in a debt settlement that enabled it to begin its existence debt free while also receiving financial assistance to quell civil unrest. Yet the IFS was unable to continue to provide the welfare spending inherited from the old regime thereby exacerbating inequality. The IFS also maintained a sterling peg, which led to a milder experience of the depression era. Ultimately, however, the benefits of independence were not forthcoming in the early years of the IFS.

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JO - National Institute Economic Review

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ER -

Political Economy of Secession: Lessons from the Early Years of the Irish Free State

Abstract

Keywords

ASJC Scopus subject areas

UN SDGs

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