McGowan, Padraig. 'Money and banking in Ireland - origins development and future'. - Dublin: Journal of the Statistical and Social Inquiry Society of Ireland,Vol. XXVI, Pt. I, 1988/1989, pp45-137
Journal of the Statistical and Social Inquiry Society of Ireland Vol. XXVI, Pt. I, 1988/1989
Currency and banking have a relatively long tradition in Ireland. Coins have
circulated for about 1,000 years and banking has been practised for some 300
years. Significant financial change was a feature of earlier periods as it has been
over the past twenty five years. Current indications are that the rate of structural
change in the financial sector will gain momentum between now and the end of
this century. An appreciation of the past can contribute to understanding the
present. Influence over future events can be improved by a greater awareness
of how we adapted to change in the past. With this in mind, a brief review of the
evolution of currency and banking in Ireland, both in the Republic and Northern
Ireland, is presented here together with a preview of some of the major changes
that will be occurring in the decades ahead. The emphasis is on the structural
changes that occurred rather than an evaluation of the policies pursued but
many of the issues raised are relevant to the debate about the expected
changes in the financial sector in the 1990s. A wide range of publications on Irish
banking has been drawn upon, many of which are cited in the Bibliography.
The review is divided into three parts. Part I concentrates on the historical
background and outlines the origins and development of money and banking in
Ireland up to the middle of this century. Part II concentrates on the significant
changes in banking and other financial institutions that have occurred in Ireland
in recent decades, including the 1980s. Finally, Part III looks towards the twenty
first century and integration within Europe with the emphasis on prudential
supervision of banks, other financial institutions and the capital markets.
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