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]

Yet another tiger economy is that of Armenia. Because of the remarkable, often two-digit economic growth that Armenia showed until the 2007-08 financial crisis, it emerged as the Caucasian Tiger. Economic stability, moderate fiscal deficits and external debt, as well as declining poverty rates were a result of the sustained economic growth during this period. [8]

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 or African Lions is used as an analogy.[9] Countries considered to be "African Lions" are South Africa, Morocco, Algeria, Libya, Botswana, Egypt, Mauritius, and Tunisia.[10]

The term "wolf economy" is used to describe Mongolia's rapidly growing economy.[11]

Caucasian country GDP Spending strategies, also known as spending approaches, affect the amount spent by different economic groups. The spending method is used to calculate US GDP. This approach can be calculated using the following formula: GDP = C + G + I + NX Where • C = consumption • G = government spending • I = investment • NX = net export

Consume the use of goods and services by households. Consumption is different from personal consumption. In other words, the purchase of household goods and services. Public sector governments spend on purchasing goods and providing services such as education, medical care and social protection. A fixed asset investment is an asset or item acquired for the purpose of generating income or valuation. An increase is an increase in the value of an asset over time. When  a person buys good as an investment, the intention is not to consume good, but  to use it to generate wealth in the future. Investing means investing capital, such as time, effort, money, or assets, today in the hope that you will be paid higher than you originally were. For example, an investor may buy a monetary value now, with the idea that the asset will generate future income  or will  be sold later to make a profit at a higher price. Net  exports include exports minus imports Export refers to a product or service that is manufactured in one country and sold to overseas buyers. Exports are one of the oldest forms of economic transfer and are carried out on a large scale between nations. Import The definition of import is the import or transfer of goods sold from one country to  another. An example of an import is to introduce a fried Twinkie to a friend in another country. An example of an import is a shopkeeper who brings artwork for sale at a store in San Francisco from Indonesia.

Tiger economy is a term used to describe a group of emerging economies located primarily in Southeast Asia. Asian tiger states include Singapore, Hong Kong, South Korea and Taiwan. In the 1960s, Asian tigers moved primarily from agricultural civilizations to industrialized nations. Exports are often the driving force behind a country's economic development, but there are highly developed financial and trade markets. For example, Singapore and Hong Kong have two of the world's most important financial markets. China, commonly referred to as the Asian tiger, has separated from the rest of the world and has become one of the most powerful economies in the world. With the exception of Asian tigers, the "Asian tiger" economy has experienced explosive growth in recent years. Asian tigers include Indonesia, Malaysia, Thailand, Vietnam and the Philippines. Let's look at an example of a white country that achieved GDP growth from the early 2000s to the late 2000s. It is also called the "Caucasus Tiger" because it has grown tremendously compared to others.

The Caucasian Tiger

During the five years preceding 2007, the Armenian economy has grown by double-digit rates annually on average—similar to the East Asian tiger economies—and maintained high growth rates even before. Armenia quickly recovered from the output shock experienced by transition economies. Dating from 1994, its upturn in output reaches to the experience of the Baltic States and Central Europe and precedes by four to five years the recovery in the rest of the former Soviet Union (FSU). Armenia's growth was caused by productivity gains in the private sector as macroeconomic stability took hold; Armenia rapidly expanded the role of private markets, and it adopted necessary institutional measures to ensure free price formation, private ownership of assets (including land), and industrial restructuring, liberal trade in goods services and investment. Moreover, the defeat of inflation and predictability in financial policies' stance was caused by adopting responsible fiscal and monetary policies in the late 1990s. Thus, the foundations of impressive growth performance were laid because first-generation structural and institutional reforms were achieved.[12]

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. Mitra, Saumya; Andrew, Douglas; Gyulumyan, Gohar; Holden, Paul; Kaminski, Bart; Kuznetsov, Yevgeny; Vashakmadze, Ekaterine (2007). The Caucasian Tiger : Sustaining Economic Growth in Armenia. Washington, DC: World Bank.{{cite book}}: CS1 maint: multiple names: authors list (link)
  9. "The sun shines bright". The Economist. 2011-12-03. ISSN 0013-0613. Retrieved 2017-09-18.
  10. Beaugé, Florence (2010-06-08). "Economic power of the 'African lions' tallied". The Guardian. ISSN 0261-3077. Retrieved 2017-09-18.
  11. Agency, The New Media Marketing. "Ganhuyag Chuluun Hutagt". Ganhuyag Chuluun Hutagt. Retrieved 2017-09-18.
  12. Saumya, Mitra; Douglas, Andrew; Gohar, Gyulumyan; Paul, Holden; Bart, Kaminski; Yevgeny, Kuznetsov; Ekaterine, Vashakmadze (2007). "The Caucasian Tiger : Sustaining Economic Growth in Armenia". {{cite journal}}: Cite journal requires |journal= (help)

Investopedia.com for reference Resources: https://en.wikipedia.org/wiki/Economy_of_Armenia Books Curtis, Glenn Eldon, ed. (1995). Armenia, Azerbaijan, and Georgia: country studies. Washington, D. C.: Federal Research Division, Library of Congress. ISBN 0844408484. External links

Media related to Economy of Armenia at Wikimedia Commons

Armenia Economic Development at Curlie Ministry of Economic Development and Investments Fund for Rural Economic Development Armenia Securities Exchange

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