ABSTRACT
Throughout the conflict in Northern Ireland, economists, the business community and political representatives, from both the British and Irish states, vigorously argued that political violence retarded the socio-economic development of the Northern Irish economy, due to the instability and uncertainty caused by intimidation, murder and civil disorder (Gorecki, 1995). The most commonly pursued thesis was that the protracted and intense nature of conflict diverted valuable public and private resources into military expenditure as opposed to more productive social and private investment. Therefore, within weeks of the paramilitary ceasefires the cessation of political violence was acknowledged as an event which signified the withdrawal of impediments which had blocked the utility and direction of the economy and had hindered the promotion of economic growth, socio-economic well-being and extended material prosperity.
