Tiger economy

A tiger economy is the economy of a country which undergoes rapid economic growth, usually accompanied by an increase in the standard of living.[1] The term was originally used for the Four Asian Tigers (South Korea, Taiwan, Hong Kong, and Singapore) as tigers are important in Asian symbolism, which also inspired the Tiger Cub Economies (Indonesia, Malaysia, Thailand, Vietnam and the Philippines). The Asian Tigers also inspired other economies later on; the Anatolian Tigers (certain cities in Turkey) in the 1980s, the Gulf Tiger (Dubai) in the 1990s, the Celtic Tiger (Republic of Ireland) in 1995–2000, the Baltic tigers (Baltic states) in 2000–2007, and the Tatra Tiger (Slovakia) in 2002–2007.[2]

GDP per capita for the Four "Asian Tigers" (Singapore, Hong Kong, Taiwan and Korea) between 1960 and 2014

In the 1960s, the Philippines, Sri Lanka and Myanmar were billed as the next East Asian Tiger Economies as all three countries were experiencing high growth.[3] Internal issues however led to the economies of all three countries to falter.[3] Israel's rapid economic growth in the 1990s, and again in the 2000s and 2010s following a brief recession, earned it a reputation as a tiger economy, and the term "Hebrew tiger" was dubbed in one newspaper.[4][5] Bangladesh has been described as an emerging "Asian tiger" in recent years due to its high economic growth and industralisation which bear many similarities to the way the Four Asian Tigers industralised between the 1960s and 1990s.[6][7]

Similar

In Latin America, the fast-growing & emerging economies, oriented to free trade and free market development are called the Pacific Pumas of which consist of Mexico, Chile, Peru & Colombia.

For emerging economies in Africa, the term lion economy is used as an analogy.[8] Countries considered to be "lion economies" are South Africa, Morocco, Algeria, Libya, Botswana, Egypt, Mauritius, and Tunisia.[9]

The term "wolf economy" is used to describe Mongolia's rapidly growing economy.[10]

See also

References
  1. A definition of Tiger Economy is provided by the Macmillan Online Dictionary, available here
  2. See this essay by Michal Hvorecký for an example of the term applied to Slovakia - The End of the Economic Miracle Archived 2009-09-17 at the Wayback Machine
  3. "Revisiting 'Breakout Nations'".
  4. "Israel continues to fall behind developed world in education, employment and productivity". Retrieved 2017-09-18.
  5. Jones, Clive and Murphy, Emma: Israel: Challenges to Identity, Democracy, and the State, p. 3
  6. Garber, Jonathan (Apr 7, 2017). "There's a new 'Asian Tiger'". Business Insider Australia.
  7. "The fifth Asian Tiger: can Bangladesh become the latest economic success story?". Young Post.
  8. "The sun shines bright". The Economist. 2011-12-03. ISSN 0013-0613. Retrieved 2017-09-18.
  9. Beaugé, Florence (2010-06-08). "Economic power of the 'African lions' tallied". The Guardian. ISSN 0261-3077. Retrieved 2017-09-18.
  10. Agency, The New Media Marketing. "Ganhuyag Chuluun Hutagt". Ganhuyag Chuluun Hutagt. Retrieved 2017-09-18.


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