OECD Economic Surveys: Ireland 2008: Edition 2008: Ireland - Volume 2008 Issue 5

Table of contents
Basic Statistics of Ireland (2006)
Executive summary
Assessment and recommendations
Chapter 1. Key challenges
	Figure 1.1. Real GDP per capita
	Short-term economic adjustment
		The economy is slowing sharply as house-building falls
			Figure 1.2. The 2000s so far
			Figure 1.3. House prices have begun to fall
			Table 1.1. Short-term outlook
	Sustaining robust long-term growth
		Table 1.2. Decomposition of GDP growth
		Maintaining productivity growth is the key longer-term challenge
			Figure 1.4. Productivity levels relative to EU15
		Ireland remains highly dependent on foreign trade and investment
			Table 1.3. Ireland's international investment position
			Table 1.4. Foreign direct investment
			Figure 1.5. Employment in development agency assisted companies
		Competitiveness needs to improve to boost exports
			Figure 1.6. Indicators of competitiveness
			Figure 1.7. Ireland’s share of world export markets
	Policies to underpin growth
		Stronger competition would boost productivity and reduce costs
			Table 1.5. Progress in structural reform: Competition policy
			Figure 1.8. Relative price of items covered by Groceries Order
		Infrastructure bottlenecks may be holding back growth
			Figure 1.9. Indicators of infrastructure
			Table 1.6. Progress in structural reform: Upgrading infrastructure
		The innovation system should be enhanced
			Table 1.7. Progress in structural reform: Research and innovation
		Education policy should aim to match the best countries
			Table 1.8. Progress in structural reform: Education
		Participation can be raised further
			Table 1.9. Progress in structural reform: Female participation
			Figure 1.10. Female participation has risen a lot but is still low
	Setting policies to underpin stability and sustainability
		Support for housing should be more efficient and promote stability
		Lending growth and international financial market turmoil have raised issues for the financial system
		Fiscal policy should adapt to lower revenue growth
			Figure 1.11. Fiscal performance has weakened
		Population ageing will put substantial pressure on public finances in the long term
			Figure 1.12. Old-age dependency ratio
		Better integration is needed to get the most out of immigrants
	Notes
	Bibliography
Chapter 2. The housing market cycle has turned
	The housing market slowdown
		Table 2.1. Housing market indicators show a slowdown
		Figure 2.1. House prices in relation to income and rents
		Figure 2.2. Actual and fundamental house prices
	The sharp fall in residential construction
		Figure 2.3. Residential investment per capita
	The macroeconomic impact of the housing market cycle
		Figure 2.4. Housing investment and net exports
		Figure 2.5. House price volatility and the tax treatment of housing
	More efficient policies towards housing
		Table 2.2. Progress in structural reform: Housing
		Box 2.1. Reforming taxation of housing
		Box 2.2. Summary of recommendations on the housing market
	Bibliography
Chapter 3. Financial stability: Banking on prudence
	Figure 3.1. Banking sector share prices and government bond yield
	Containing risks to the financial system
	Policy issues and responses
	Conclusion
		Figure 3.2. Credit default swap rates
		Box 3.1. Summary of recommendations on financial stability
	Notes
	Bibliography
Chapter 4. Adapting government spending to lower revenue growth
	Table 4.1. General government fiscal position
	Tax revenues are less robust
		Table 4.2. The composition of tax revenues has changed
		Figure 4.1. Corporation tax and stamp duty revenues
	Government spending is likely to slow
		Figure 4.2. Real expenditure has expanded rapidly
		Figure 4.3. Main components of higher public spending
	Fiscal performance has remained sound but is weakening
		Figure 4.4. The government balance sheet has been strengthened
		Box 4.1. Uncertainty around the fiscal balance as the economy slows
			Figure 4.5. A larger fiscal deficit is a risk
			Figure 4.6. Spending is heavily committed to priorities
	Additional resources should be used effectively
		Figure 4.7. Indicators of healthcare efficiency
	Improving public sector management
	Public-Private Partnerships
		Table 4.3. Spending on economic infrastructure under the National Development Plan
		Box 4.2. OECD principles for private sector participation in infrastructure
	Conclusion: Fiscal policy must adapt to a more challenging environment
		Box 4.3. Summary of recommendations on fiscal policy
	Notes
	Bibliography
Chapter 5. Setting the pension system on the right track
	Figure 5.1. Old-age dependency will eventually match other countries
	The basic state pension is the foundation of the system
		More generous pensions have reduced pensioner poverty
			Figure 5.2. State pension
			Figure 5.3. Gross replacement rates
		Government spending on pensions will rise
			Figure 5.4. Public expenditure on pensions
		The long-term objectives for the state pension are unclear
		Work incentives could be improved
			Figure 5.5. Employment rates by age
	Public sector pensions will become increasingly costly
	Private pension saving needs to increase
		Private savings are required to fill the retirement savings gap
			Figure 5.6. Gross replacement rate from state pension
			Figure 5.7. Occupational pension schemes
			Figure 5.8. Sources of retirement income by quintile
		Raising pension saving
		Tax incentives to pension saving are large but poorly targeted
			Figure 5.9. Projected net fiscal revenues from tax-favoured retirement savings plans
		Rules on private pensions should encourage adequate provision
		Private pensions should contribute to labour market flexibility
	Options for pension reform
		Box 5.1. Green Paper on Pensions
		Box 5.2. Summary of recommendations on pension reform
	Notes
	Bibliography
Chapter 6. Integrating migrants: Learning from OECD experience
	Migration trends
		Figure 6.1. Foreign-born population
		Figure 6.2. Immigrants by nationality and birthplace
		The different waves of immigration
			Figure 6.3. Migration over time
			Table 6.1. Labour force status of those aged 15 and over
			Figure 6.4. Percentage of jobs in each sector held by immigrants
			Figure 6.5. Share of immigrants with a tertiary-level qualification
			Figure 6.6. Over-qualification rates
	The policy approach and recent reforms
		Table 6.2. The main migration channels
	The economic impacts of migration
		Figure 6.7. Ratio of unskilled wages to the average wage
		Table 6.3. Employment performance by education level
		Table 6.4. Change in employment by nationality
		Figure 6.8. Earnings growth and immigrant share
		Table 6.5. Age of immigrants compared with the native-born population
		Table 6.6. Possible macroeconomic impacts of immigration from new member states
		Figure 6.9. Link between net migration and economic growth
	Policy challenges
		Integration policy has many facets
			Figure 6.10. Distribution of migrants across the country
			Box 6.1. Recurring themes: migration issues in other countries
		Selection policy cannot be ignored
		Planning infrastructure projects under heightened uncertainty about population growth
			Figure 6.11. Net inward migration rates
			Box 6.2. Summary of recommendations on migration
	Notes
	Bibliography
	Annex 6.A1 Do fast-growing economies attract more migrants?
		Table 6.A1.1. Regression results
Glossary