Celtic Tiger

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Celtic Tiger is a term used to describe the economy of Ireland during a period of rapid economic growth between 1995–2007, which underwent a dramatic reversal by 2008, with a GDP contraction of 14%[1] and unemployment levels at 14% by 2010.

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Term

The colloquial term Celtic Tiger[2] has been used to refer to the country itself, and to the years associated with the boom. The first recorded use of the phrase is in a 1994 Morgan Stanley report by Kevin Gardiner.[3] No wild tigers live in the Republic of Ireland - the term refers to Ireland's similarity to the East Asian Tigers; South Korea, Singapore, Hong Kong, and Taiwan during their periods of rapid growth in the late 1980s and early 1990s. The Celtic Tiger period has also been called "The Boom" or "Ireland's Economic Miracle".[4]

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