A colloquial term for the Scandinavian nation of Iceland. Prior to the global financial crisis of 2008, Iceland was on a strong growth trajectory that justified the "Nordic Tiger" sobriquet, with high levels of GDP growth, low unemployment and even distribution of income.
The Icelandic economy remains heavily dependent on fishing, which contributes 40% of export earnings and more than 12% of gross domestic product. However, the country's reliance on this sector has decreased over the years, as the economy has diversified into other areas such as software, biotechnology and tourism.
Iceland was one of the earliest casualties of the 2008 crisis, and one of the worst-hit economies. Much of the nation's rapid growth in recent years came after the privatization of its banking sector in the early 2000s and subsequent aggressive expansion by its banks, both nationally and overseas. The 2008 crisis triggered the collapse of Iceland's three largest banks later that year, and resulted in the economy contracting by 6.8% the following year.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Nordic Tiger — was a term used to refer to the period of economic prosperity in Iceland that began in the post Cold War 1990s and ended in a national financial crisis in 2008, when all the country s banks failed and had to be nationalised by the country s… … Wikipedia
Tiger Cub Economies — The term Tiger Cub Economies refers to the economies of the four dominant countries in the Southeast Asia after Singapore. The Tiger Cub Economies (yellow) The original tigers (red) [ … Wikipedia
Tiger Hillarp Persson — Full name Tiger Hillarp Persson Country … Wikipedia
Tiger Hillarp-Persson — Tiger Hillarp Persson Naissance 28 octobre … Wikipédia en Français
Tiger Hillarp Persson — Naissance 28 octobre 1970 … Wikipédia en Français
Tiger Hillarp Persson — (nacido el 28 de octubre de 1970) es un Gran Maestro Internacional sueco de ajedrez. Gano los torneos en Gentofte ( VISA Nordic Grand Prix , quedando delante de Sune Berg Hansen, Simen Agdestein, Einar Gausel, Helgi Grétarsson, Heikki Westerinen… … Wikipedia Español
Nordic Folkboat — Current Specifications F Class Symbol Crew 2–3 LOA 7.68 m (25 ft 2 in) LWL … Wikipedia
Nordic Chess Championship — The first Nordic Chess Championship (Nordiska Schackkongressen) took place in Stockholm in 1897. Winners The winners in the Nordic Championship in 1934 and 1936, Aron Nimzowitsch and Erik Lundin, got the Nordiske kongresmestre title, as… … Wikipedia
Celtic Tiger — ( ga. Tíogar Ceilteach) is a name for the period of rapid economic growth in the Republic of Ireland that began in the 1990s and slowed in 2001, only to pick up pace again in 2003 and then have slowed down once again by 2007. During this time,… … Wikipedia
Tatra Tiger — is a nickname that refers to the economy of Slovakia following the ascendance of a right wing coalition in September 2002 which engaged in a program of liberal economic reforms. The name Tatra Tiger derives from the local Tatra mountain range.In… … Wikipedia