The economy of Azerbaijan has completed its post-Soviet transition into a major oil-based economy, from one where the state played the major role. The transition to oil production led to remarkable growth figures as projects came online; reaching 26.4% in 2005 and 34.6% in 2006 before subsiding to 10.8% and 9.3% in 2008 and 2009 respectively. The real GDP growth rate for 2011 was expected at 3.7% but had dropped to 0.1%. Large oil reserves are a major contributor to Azerbaijan's economy. The national currency, the Azerbaijani manat, was stable in 2000, depreciating 3.8% against the dollar. The budget deficit equaled 1.3% of GDP in 2000.
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.
Post-communism is the period of political and economic transformation or transition in former communist states located in Eastern Europe and parts of Africa and Asia in which new governments aimed to create free market-oriented capitalist economies. In 1989–1992, communist party governance collapsed in most communist party-governed states. After severe hardships the communist parties retained control in China, Cuba, Laos, North Korea, and Vietnam. Yugoslavia fell into parts that plunged into a long complex series of wars between ethnic groups. Soviet-oriented communist movements collapsed in countries where it was not in control.
The Four Asian Tigers are the developed East Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.
The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.
An emerging market is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". As of 2006, the economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. Emerging market economies’ share of global PPP-adjusted GDP has risen from 27 percent in 1960 to around 53 percent by 2013. The 10 largest emerging and developing economies by either nominal or PPP-adjusted GDP are 4 of the 5 BRICS countries along with Indonesia, Iran, South Korea, Mexico, Saudi Arabia, Taiwan and Turkey.
Baltic Tiger is a term used to refer to any of the three Baltic states of Estonia, Latvia, and Lithuania during their periods of economic boom, which started after the year 2000 and continued until 2006–2007. The term is modeled on Four Asian Tigers, Tatra Tiger, and Celtic Tiger, which were used to describe the economic boom periods in East Asia, Slovakia, and Ireland, respectively.
In macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price stability, and price stability is achieved by controlling inflation. The central bank uses interest rates as its main short-term monetary instrument.
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries.
"Tatra Tiger" is a nickname that refers to the economy of Slovakia in period 2002 – 2007, following the ascendance of a right-leaning coalition in September 2002 which engaged in a program of liberal economic reforms. The name "Tatra Tiger" derives from the local Tatra mountain range.
The Great Moderation is a period in the United States of America starting from the mid-1980s until at least 2007 characterized by the reduction in the volatility of business cycle fluctuations in developed nations compared with the decades before. It is believed to be caused by institutional and structural changes, particularly in central bank policies, in the second half of the twentieth century.
The Gulf Tiger or Arab Gulf Tiger is a nickname used to describe the period of rapid economic growth in the city of Dubai. The boom that Dubai has been experiencing since the 1990s is still going on, transforming the city from a desert village to a world class economic hub.
The East Asian model pioneered by Japan, is a plan for economic growth whereby the government invests in certain sectors of the economy in order to stimulate the growth of specific industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Japan, South Korea and Taiwan. It has also been used by some to describe the contemporary economic system in Mainland China after Deng Xiaoping's economic reforms during the late 1970s and the current economic system of Vietnam after its Đổi Mới policy was implemented in 1986.
Stijn Claessens is a Dutch economist who currently serves as the Head of Financial Stability Policy department of the Bank for International Settlements. He worked for fourteen years at World Bank beginning in 1987 until 2001 where he assumed various positions including that of Lead Economist. Following his tenure at the World Bank he became Professor of International Finance Policy at the University of Amsterdam where he remained for three years and still is on the faculty. Stijn has many distinguished academic publications and his work has been cited in many outlets including The Wall Street Journal, The Financial Times, The Economist, The Washington Post and various other publications and he has appeared in several television programs.
Ganhuyag Chuluun Hutagt is a Mongolian businessman, public figure, and former Vice Minister of Finance of Mongolia. According to Richtopia, Ganhuyag's was among the top 2500 CEOs in the world in 2015.
CIVETS is an acronym for six emerging market countries identified for their rapid economic development: Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa. The term was coined in 2009 by Robert Ward of the Economist Intelligence Unit to describe nations demonstrating particularly strong growth potential. Common characteristics include "diverse and dynamic" economies, "young, growing population[s]", and "relatively sophisticated financial systems".
The National Competitiveness Report of Armenia (ACR) is an annual publication of EV Consulting and the Economy and Values Research Center that aims to encourage and foster in-depth dialogue and analysis on improving Armenia's competitiveness.
MINT is an acronym referring to the economies of Mexico, Indonesia, Nigeria, and Turkey. The term was originally coined in 2014 by Fidelity Investments, a Boston-based asset management firm, and was popularized by Jim O'Neill of Goldman Sachs, who had created the term BRIC. The term is primarily used in the economic and financial spheres as well as in academia. Its usage has grown specially in the investment sector, where it is used to refer to the bonds issued by these governments. These four countries are also part of the "Next Eleven".
The Pacific Pumas are a political and economic grouping of countries along Latin America’s Pacific coast that includes Chile, Colombia, Mexico and Peru. The term references the four larger Pacific Latin American emerging markets that share common trends of positive growth, stable macroeconomic foundations, improved governance and an openness to global integration.
