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5.2 ECONOMICS AND BUSINESS
Ruane and Gorg (1996: 37) remarked that 'any careful comparison of the Irish economy with other economies in the European Union immediately focuses on two key features of Ireland's pattern of industrial development: the enormous significance of foreign direct investment (FDI) and the very high export ratios in the Irish manufacturing sector among foreign-owned companies. These two features have not developed by accident, but are directly related to the industrial strategy which Ireland has pursued over the past forty years, namely, of promoting export-led growth in Irish manufacturing through various incentives and of encouraging foreign companies to establish manufacturing plants in Ireland, producing specifically for export markets'.
Gorman, W. and Cooney, T. (2007) An Anthology of Enterprise Policy in Ireland. Irish Journal of Management; Vol. 28, Issue 2, pp.1-28.