International diversification Irish economy Production risk Risk diversification Open economy Ireland
Economic & Social Research Institute
Lane, Philip R. 'International diversification and the Irish economy'. - Economic & Social Review, Vol. 31, No. 1, January, 2000, pp. 37-53, Dublin: Economic & Social Research Institute
We take an initial step in investigating the international diversification of Irish production risk. We find evidence that Ireland displays some properties associated with international risksharing. These include: high gross stocks of foreign assets and liabilities; high international
consumption correlations relative to output correlations; and pro-cyclical behaviour of the yield on net external liabilities.
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