Taiwan in the Global Economy — End of the “Miracle”?

Frank Hsiao and Mei-Chu Wang Hsiao

Chapter 4 in Economic Development of Taiwan:Early Experiences and the Pacific Trade Triangle, 2015, pp 237-263 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Although geographically rather small, Taiwan is anything but insignificant in the global economy, especially Taiwanese people's contributions in the field of information and communication technology (ICT). This paper discusses Taiwan from the vantage point of the global economy, using some of Taiwan's macroeconomic and competitiveness indicators to compare and rank them with other countries and regions based on the data from world organizations. Time-series data of the past two decades suggest that the postwar Taiwanese economic miracle may have been over after the early 1990s. We conclude that Taiwan's economy is at a crossroads. The Ma government policy of further promoting closer ties with China, instead of attending to basic reforms, may not be the best path for the Taiwanese economy.

Keywords: Economic Development; Taiwan; Colonial Linkages; Pacific Trade Triangle; Political and Cultural Changes (search for similar items in EconPapers)
Date: 2015
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