Economic miracle

Economic miracle is an informal economic term for a period of dramatic economic development that is entirely unexpected or unexpectedly strong. Economic miracles have occurred in the recent histories of a number of countries, often those undergoing an economic boom or described as a tiger economy.

Great Divergence

• Commercial revolution (c. 1000–1760)
• Industrial Revolution (c. 1760–1840)
• Second Industrial Revolution (c. 1870–1914)

Post-World War II

• Swiss miracle (c. 1940s–2000s)
• Japanese economic miracle (c. 1950s–1973)
• Trente Glorieuses (France, c. 1945–1975)
• Record years (Sweden, c. 1947–1974)
• Wirtschaftswunder (West Germany and Austria, c. 1950s–1970s)
• Mexican miracle (c. 1940s–1970s) (term not used by economists)
• Belgian economic miracle (1945–1948)
• Greek economic miracle (1950–1973) (Eventually followed by downturn)
• Italian economic miracle (c. 1950–1973)
• Spanish miracle (1959–1974)
• Costarrican Ochomogo economic miracle (1950–1979)
• Four Asian Tigers (South Korea, Taiwan, Hong Kong, and Singapore, c. 1960s–1990s)
• Miracle on the Han River (South Korea, c. 1962–1997)
• Taiwan Miracle (1961–2000)

Later

• Tiger Cub Economies (Indonesia, Malaysia, Thailand, the Philippines, and Vietnam, c. 2010s–present)
• Indonesian economic boom (1976–present)
• Malaysian miracle (1971–present)
• Philippine economic boom (1986–present)
• Thai economic boom (1980s–present)
• Đổi Mới (Vietnam, 1986–present)
• Brazilian Miracle (1968–1973)
• Miracle of Chile (1975–2010)
• Economic liberalisation in India (1991–present)
• Reform and opening up (1978–present)
• Massachusetts Miracle (1980s)
• Polish economic boom (1992-present)
• Gulf Tiger (Dubai city, c. 1990s–2008)
• Celtic Tiger (Ireland, c. 1995–2007)
• Belarusian economic miracle (1996-2014)
• Baltic Tigers (Estonia, Latvia, or Lithuania, c. 2000–2007)
• Tatra Tiger (Slovakia, 2002–2007)
• 2000s Turkish economic boom (Turkey, c. 2000–2018)
• Adriatic Tiger (Slovenia, 2004–2009)
• Carpat Tiger (Romania, 1991–2009)

References

Further reading

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