HOW A TIGER BECAME A PUSSYCAT: A COMPARISON OF ECONOMIC DEVELOPMENT OF TAIWAN AND MAINLAND CHINA

Miljenko Antić
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Miljenko Antić: University of Zagreb, Faculty of Civil Engineering

Ekonomski pregled, 2020, vol. 71, issue 2, 173-199

Abstract: Based on capitalism and socialist measures, Taiwan not only achieved better results than Mainland China during the 1949-91 period, but also better results than any other country in the world in promoting economic growth. A lack of market was the main disadvantage of Mainland China during this period of time. However, its successful pro-market reforms and unsuccessful reforms in Taiwan (based on privatization), reversed the tide. During the last quarter of the century, Mainland China has more efficient economic system than Taiwan. As a result, Mainland China became the world’s leading economic power in 2014 and it continues to have higher rates of growth than Taiwan.

Keywords: Taiwan; China; development; economic growth; privatization (search for similar items in EconPapers)
JEL-codes: F02 F15 F63 (search for similar items in EconPapers)
Date: 2020
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