Tuesday 26 September 2017

How do we solve the complex problem of Leprechaun-proofing country's economic data?

Balance sheet: Take multinationals out of the equation and the figures look very different Photo: Paul McErlane/Bloomberg
Balance sheet: Take multinationals out of the equation and the figures look very different Photo: Paul McErlane/Bloomberg
Dan O'Brien

Dan O'Brien

Ireland is Europe's new Rotterdam. For centuries the Dutch port has been a commercial hub with a vast hinterland spreading deep into Continental Europe.

All manner of business is conducted in and around the sprawling entrepot, as goods, services, people and capital flow in and out.

Dutch statisticians would have a very tough time measuring Rotterdam's gross domestic product, or GDP. Irish statisticians have a very tough time measuring Irish GDP, for exactly the same reason.

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