Economic well-being in the Ballymote rural area: myth and reality
Date
1996Author
Grimes, Seamus
O'Donohue, Brendan
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Grimes, S., ODonohue, B. (1996) 'Economic well-being in the Ballymote rural area: myth and reality'. Studies: An Irish Quarterly Review , 85 (340):351-361.
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Abstract
Despite the many negative indicators such as falling population and high
emigration which are characteristic of the Northwest, the town of
Ballymote appears to be booming. In explaining this apparent contradiction,
three questions suggested themselves; (a what influences at the EU,
national or local levels have enabled the town to survive (b given the
apparent failure of traditional socioeconomic indicators to reflect the
underlying reality, what new indicators would accurately reflect the
economic well-being of the area; and (c given that Ballymote had survived,
and indeed thrived against the odds, what lessons could be applied to
stimulate economic growth in other areas
Since one of the authors had been a bank manager in the town for a
number of years certain insights into the functioning of the local economy
were available to the researchers at the outset. In addition to the usual range
of published data sources, the study was primarily based on a series of
confidential interviews. It is not too surprising, therefore, that 600ey was
chosen as the key to unlock the workings of the local economy, with
particular emphasis on disposable income, savings, and participation in the
black economy. While it is com600place for countries to count their
income in terms of Gross National Product, there is no available mechanism
in Ireland to assess levels of income for localities. One of the objectives of
this study, therefore, was to explore ways of assessing major 600ey flows
and the overall income of a locality. A600g the questions to be examined
were the effects of savings and of the black economy on the localit