Friday, February 03, 2017

Leprechaun Economics

International Monetary Fund report on its latest assessment of Ireland (page 29) --

Although computed strictly in line with international best practices and statistical standards, Ireland’s headline GDP and GNP figures no longer provide an effective measure of economic activity that physically takes place in the national territory, as a very significant amount of activity carried out in other countries is now recorded in Ireland’s national accounts. In 2015, foreign-owned multinational enterprises accounted for almost 40 percent of Ireland’s gross value added at constant 2014 basic prices.

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