Till Debt Do Us Part : Financial implications of the divorce of the Irish Free State from the United Kingdom, 1922–1926

• In this paper, we discuss the apportionment of national debt when Ireland exited the UK in 1922. We estimate that the claim on Ireland amounted to 80 percent of Irish Gross National Product (G.N.P.) and describe how it was ultimately waived at the expense of an unchanged land border with Northern Ireland. While this represents the largest debt relief episode in the twentieth century, the political cost of the agreement exceeded the financial gain in the long run. We find that domestic markets reacted more to political uncertainty than the pending liability, despite the financial stability which resulted from the debt write-down.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Ekonomisk historia (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economic History (hsv//eng)

Nyckelord

Political Economy

Ireland

United Kingdom

Debt Resolution

Border

Public Debt

Financial Agreement

Publikations- och innehållstyp

art (ämneskategori)

ref (ämneskategori)