The development of the financial sector in Ireland, 1949-72

Abstract

In the past decade or so there has been a considerable growth of interest in monetary economics. Part of this growth in interest can be attributed to the publication of important official enquiries in the US and the UK - the Commission on Money and Credit and the Radcliffe Report. Another important factor was, perhaps, an inevitable swing back from the excesses of the post-Keynsians who relegated money to a very minor role in the macro-economic process. In recent years also the problems of monetary policy in open economies have been the attention of considerable research and, in a world of internationally mobile capital, balance of payments positions are examined from a monetary, rather than a purely tradeoriented, standpoint.