Rethinking Import-substituting Industrialization: Development Strategies and Institutions in Taiwan and China

Tianbiao Zhu

No RP2006-76, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Conventional explanations of Taiwan and China's economic success point to the shift from an import-substituting industrialization (ISI) strategy to an export-oriented industrialization (EOI) strategy. This paper argues that the development strategies in Taiwan and China have always been a combination of ISI and EOI strategies during their entire miracle-creating period; far from the shift from ISI to EOI strategies, export promotion was used in both cases to sustain ISI, which has always been the central focus of development.

Keywords: Economic development; Industrialization; Institutional economics; International trade; Strategic planning (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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