Tiger economy

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A tiger economy is the economy of a country which undergoes rapid economic growth, usually accompanied by an increase in standard of living. The term was initially used for South Korea, Singapore, Hong Kong and Taiwan (East Asian Tigers), and in the 1990s it was applied to the Republic of Ireland (the Celtic Tiger). In 2007, Brazil, Russia, India and China are considered to have tiger economies. The Southeast Asian countries of Malaysia, Indonesia, the Philippines, Thailand and Vietnam may also be considered tiger economies due to their high growth rates in recent years.

The Greek economic miracle of the 1950s and 1960s has also been described afterward as a tiger economy. It is not often cited internally, however, as the era was also a time of great political turmoil in spite of the economic success.

More recently, the term has been used to refer to the Baltic states Estonia, Latvia and Lithuania, known collectively as the Baltic Tigers. Slovakia is referred to as the Tatra Tiger. Romania is referred to as the Carpat Tiger. Within Canada the province of Alberta has also been considered to have a tiger economy.

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