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

See Great Divergence.

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

Post-World War II

See Post–World War II economic expansion.

• 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)
• Swiss miracle (c. 1940s–2000s)
• Japanese economic miracle (c. 1945–1990)
• 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)

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) (Debatable)
• Economic liberalisation in India (1991–present)
• Chinese economic reform (1978–present)
• Massachusetts Miracle (1980s)
• Gulf Tiger (Dubai city, c. 1990s–2008)
• Celtic Tiger (Ireland, c. 1995–2007)
• 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)

Further reading

• Seliger, Bernhard (2010). "Theories of economic miracles" (PDF). Diskurs (1): 1–26. Broken link