State Intervention in ‘Outward-looking’ Development: Neoclassical Theory and Taiwanese Practice

Robert Wade

Chapter 2 in Developmental States in East Asia, 1988, pp 30-67 from Palgrave Macmillan

Abstract: Abstract If the wealth of any nation has multiplied miraculously, that nation must be Taiwan.2 Taiwan has experienced real GDP growth of 10.6 per cent a year from 1965 to 1979; no deterioration in income distribution; improvement in literacy and life expectancy better than in almost all other developing countries; increases in real manufacturing earnings of 15 per cent a year from 1960 to 1979; unemployment at less than 2 per cent since 1970. Income per person is three to ten times higher than China, depending on which figures are used. In 1953 Taiwan had a per capita income below the Mediterranean countries, well below any Latin American country, and well below Malaysia. By 1982 this had reached US$2500, substantially higher than Malaysia, Brazil and Mexico, and on a par with Portugal, Argentina and Chile.

Keywords: Foreign Exchange; Latin American Country; Industrial Policy; Import Substitution; Public Enterprise (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19195-6_2

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DOI: 10.1007/978-1-349-19195-6_2

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