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首页> 外文期刊>European review of economic history >'Till debt do us part': financial implications of the divorce of the Irish Free State from the United Kingdom, 1922-1926
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'Till debt do us part': financial implications of the divorce of the Irish Free State from the United Kingdom, 1922-1926

机译:“直到债务”:来自英国的爱尔兰自由州离婚的财务影响,1922-1926

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摘要

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.
机译:在本文中,我们讨论了1922年英国的国债分配。我们估计爱尔兰对爱尔兰国民产品的80%(GNP)的索赔,并描述了最终以牺牲为代价而放弃的与北爱尔兰的不变的土地边界。虽然这代表了二十世纪最大的债务救济集,但协议的政治成本远远超过了财政收益。我们发现,尽管债务记录所产生的金融稳定,但国内市场比待定责任更多地对政治不确定性做得更多。

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