Taiwan’s Economic Development: The Role of Entrepreneurship and its Incubating Factors

Fu-Lai Tony Yu
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Fu-Lai Tony Yu: Hong Kong Shue Yan University

Chapter Chapter 1 in Entrepreneurship and Taiwan's Economic Dynamics, 2012, pp 1-16 from Springer

Abstract: Abstract Taiwan’s phenomenal post-war economic growth has been globally praised as a miracle. In an article published by U.S.-based magazine Business Week (2005), “Why Taiwan Matters?” it stated that “the global economy couldn’t function without it.” Considering the pivotal role played by Taiwan’s electronics industry, this is indeed not an overstatement. How Taiwan was able to reach this stage has instigated a series of studies and proffers an interesting lesson for latecomers. In the World Bank Policy Research Report (1993), Taiwan’s successful economic development stands out as a vivid example within these East Asian economic miracles. The report is obviously based on the neoclassical growth theory although it admitted that there are also non-economic factors, including culture, politics, and history, important to the East Asian success. The entrepreneur, who literally expedites the resources to efficient and effective allocation, is treated as a non-economic factor and is completely ignored.

Keywords: Family Firm; Entrepreneurial Spirit; Strategic Entrepreneurship; Original Equipment Manufacturing; Neoclassical Growth Theory (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-28264-5_1

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DOI: 10.1007/978-3-642-28264-5_1

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