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| Their hopes were partly met 1969 when the Minister for Education, Brian Lenihan, announced the decision of Government to establish an institute of higher education in Limerick. Edward Walsh was appointed Director of the institute and took up the post on 1 January 1970. Planning for the development of the new institution took place initially in 71 O'Connell Street in offices vacated by the Limerick County Council. The first students were admitted in 1972 when the National Institute for Higher Education was formally opened by the then Taoiseach, Jack Lynch, TD. Images Click on the image below to see the larger version and use the "Back" button on your browser to return to this page. |
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First of all, it helps to explain why China followed a more experimental and gradual approach to reforms compared to Eastern Europe. Such a decentralization also prevented the collapse of central coordination that occurred in the former Soviet block. We also discuss the role of other factors such as the difference in the level of development, in the initial political situation and in cultural norms. We argue that this preference for public over private enterprises arose in part because it has been easier to collect taxes from public firms, and in part because direct controls on public firms help offset the misallocations otherwise induced by non-market-clearing interests rates and wage rates. The lastest reforms in China changed the fiscal system and improved the function of the credit and labor markets, lessening the advantage of public over private enterprises. |
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