The term "Celtic Tiger" is a misnomer as Ireland's strong growth performance has been mainly driven by the high-tech multinational sector in recent years, according to a new report commissioned by MMI Stockbrokers.

"The `tiger' is predominantly a high-tech multinational tiger nurtured in a special tax reserve by Celtic tax poachers," the report, written by Dr Antoin Murphy, says.

The main reason multinational companies locate in Ireland is the low rate of corporation tax but, if Ireland is to stave off "tax dumping" allegations by other EU members and ensure the long-term commitment of the multinational sector to the Irish economy, it will have to accelerate tax reform, he says.