Peace dividend, foreign investment, and economic regeneration: The northern Irish case

The recent period of globalization has been accompanied by an increased num ber of regional peace prosesses. Sponsors of peace processes often try to a ttract support hy promising a peace dividend to participating states and po pulations. This article examines the relationships between globalization, p eace processes and peace dividends, especially foreign investments. It anal yzes the north of Ireland and the economically marginalized area of West Be lfast, to see whether peace has attracted an "investment dividend" and whet her new investments benifit the regions and people who need it mast. Data o n state-sponsored investments indicate that the peace dividend has been muc h smaller than official publicity indicates; that new investments have not concentrated economically marginalized areas: and that even the projects th at located in such areas did not emyloy those who needed it most, particula rly Catholics. The article discusses the implications of failing to provide a peace dividend Sor communities at the center of conflict.