The main challenges and constraints of the economic development of taiwan

The main challenges and constraints of the economic development of taiwan

Автор: Neszmlyi Gyrgy Ivn

Журнал: Вестник Волгоградского государственного университета. Экономика @ges-jvolsu

Рубрика: Мировая экономика

Статья в выпуске: 4 т.20, 2018 года.

Бесплатный доступ

Beyond a comprehensive review on Taiwan's economy, the main objective of the present study was to find answer to two questions. The first issue is whether Taiwan followed a classical model of the Asian Newly Industrializing Economies (ANIEs), or in spite of similarities at first sight, it rather had its own, individual way of development. To examine this question the author made a comparison between Taiwan and the Republic of Korea (South Korea) and beside the obvious similarities, a number of significant differences were found. The other main question this study was focused on is the present and future economic and social challenges which influence Taiwan's future development as well. From among these characteristics the author pointed out the issue of the high exposition (especially in terms of FDI) and growing dependence on mainland China (the People's Republic of China), the need for a shift in terms of the main drivers of the future economic development to preserve Taiwan's competitiveness and mitigate the risks of brain drain and social unrest. It looks evident that Taiwan has to give up insisting to the principle of low labour costs, and this may give impetus to the two-decades long salary stagnation and to the domestic consumption. Taiwan may only be competitive in the future if it gave an increasing focus to the domestic R&D and innovation in the new industries and also puts more emphasis on sustainability.

Еще

Taiwan, anies, korea, economic development, competitiveness introduction

Короткий адрес: https://sciup.org/149130051

IDR: 149130051   |   DOI: 10.15688/jvolsu3.2018.4.14

Список литературы The main challenges and constraints of the economic development of taiwan

  • Abe M., Kawakami M. A Distributive Comparison of Enterprise Size in Korea and Taiwan. The Developing Economies, XXXV-4, December 1997, pp. 382-400.
  • Amsden A.H. Asia’s Next Giant: South Korea and Late Industrialization. New York, Oxford University Press, 1989. 379 p.
  • Bradner E. Trump's TPPwithdrawal: 5 things to know CNN Politics. URL: http://edition.cnn.com/2017/01/23/politics/trump-tpp-things-to-know/ (accessed 11 April 2017).
  • Central Bank of the Republic of China (Taiwan). URL: http://www.cbc.gov.tw/lp.asp?CtNode=700&CtUnit=308&BaseDSD=32&mp=2 http://www.cbc.gov.tw/mp2.html Accessed: 02-05-2017.
  • Chang C.-C. Restrictive Stance on Reciprocal Flows from China Hinders Taiwan’s Global Trade Participation. Taiwan Development Perspectives. Taipei, National Policy Foundation, 2015. 251 p.
  • Chau L.-C., Lui F.T., Qiu L.D. Comparison Among Singapore, Taiwan and South Korea. Chau, L.-C., Lui, F.T., Qiu, L.D. (eds.) Industrial Development in Singapore, Taiwan and South Korea. World Scientific, Singapore, 2001, pp. 201-232.
  • Chau L.-C. South Korea: Government-Led Development and The Dominanceof Giant Corporations. Chau, L-C., Lui, F.T., Qiu, L.D (eds.). Industrial Development in Singapore, Taiwan and South Korea. World Scientific, Singapore, 2001, pp. 118-200.
  • Chen P. Lessons from Taiwan’s Economic Development Orbis. FPRI’s Journal of World Affairs, 2016, vol. 60, no. 4, pp. 515-530.
  • Cheng C. The author’s personal discussion and interview with Dr. Claire Cheng, sociologist, founder and director of Cloud Global Education. Taipei, 1st Apri, 2017.
  • Chou C-C. C. The author’s personal discussion and interview with Dr. Chelsea Chia-Chen Chou Ph.D., sociologist, Assistant Professor of the Graduate Institute of National Development of National University of Taiwan. Taipei, 31th March, 2017.
  • Chow P.C.Y. Taiwan in International Economic Relations Orbis. FPRI’s Journal of World Affairs, 2016, vol. 60, no. 4, pp. 531-549.
  • CIA - The World Factbook (Information and database on Taiwan and South Korea) Central Intelligence Agency, USA, 2017. URL: https://www.cia.gov/library/publications/the-world-factbook/geos/tw.html; https://www.cia.gov/library/publications/the-world-factbook/geos/ks.html; https://www.cia.gov/library/publications/the-world-factbook/geos/print_tw.html (accessed 12 April 2017).
  • Cross-Straits Economic Cooperation Framework Agreement. URL: http://www.ecfa.org.tw/EcfaAttachment/ECFADoc/ECFA.pdf (accessed 01 April 2017).
  • DBIT (Doing Business in Taiwan) post publication update (16 March 2017) PWC (Price Waterhouse Coopers). Taiwan, 7 p. URL: http://www.pwc.tw/en/publications/assets/pwc-doing-business-in-taiwan-post-publication-update.pdf (accessed 18 April 2017).
  • DBIT (Doing Business in Taiwan) PWC (Price Waterhouse Coopers). Taiwan, 2016, 90 p. URL: http://www.pwc.tw/en/publications/assets/doing-business-in-taiwan.pdf.
  • DGBAS (Treasury Department of the Ministry of Finance, Bureau of Trade, Statistical Office). URL: http://cus93.trade.gov.tw/FSCE010F/FSCE010F?menuURL=FSCE010F01-04-2017.
  • Economy Watch (on the Basis of Data Gained from the International Monetary Fund). URL: http://www.economywatch.com/economic-statistics/Taiwan/GDP_Per_Capita_PPP_US_Dollars/ (accessed 02 April 2017); http://www.economywatch.com/economic-statistics/Korea/GDP_Per_Capita_PPP_US_Dollars/ (accessed 02 April 2017).
  • EU-Taiwan Factfile. Taiwan, European Economic and Trade Office, 2016. 60 p.
  • Füle J. The author’s personal discussion and interview with Mr. János Füle, Vice President of Chi Fu European Trading Co. Ltd, former Investment and Trade Director of the Hungarian Trade Office in Taipei. 10th May, 2017.
  • Hattori T., Sato Y. A Comparative Study of Development Mechanisms in Korea And Taiwan: Introductory Analysis The Developing Economies, XXXV-4 (December 1997). pp. 341-357.
  • Heo U., Roehrig T. South Korea Since 1980. Cambridge, Cambridge University Press, 2010. 226 p.
  • Heo U., Tan A.C. Political Choices and Economic Outcomes: APerspective on the Differential Impact of the Financial Crisis on South Korea and Taiwan. Comparative Political Studies, 2003, vol. 36, no. 6 (August), pp. 679-698.
  • Hsu Y.-H. Revisiting "Who Steal our Jobs" - Youth Employment and Its Policy Response in Taiwan In: Taiwan Development Perspectives 2015. Taipei, National Policy Foundation, 251 p.
  • Kim E.-M. The Industrial Organization and Growth of the Korean Chaebol: Integrating Development and Organizational Theories. Hamilton G.G. (ed.). Asian Business Networks. Berlin, Walter de Gruyter, 1996, pp. 231-252.
  • Kim H., Heo U. Comparative Analysis of Economic Development in South Korea and Taiwan: Lessons for Other Developing Countries. Asian Perspective, vol. 41, 2017, рр. 17-41.
  • Lin M.-J. The author's personal discussion and interview with Prof. Lin, Ming-Jen Ph.D., Professor & Chairman of Economics of National University of Taiwan.Taipei, 31th March, 2017.
  • MEET-Taiwan - Ministry of Economic Affairs, Bureau of Foreign Trade (BOFT) Implemented. Taiwan External Trade Development Council, 2017. URL: https://www.meettaiwan.com/en_US/menu/M0000752/Introduction of Taiwan.html?function=2B360BA863747824D0636733C6861689 (accessed 06 April 2017).
  • MOE Taiwan - Ministry of Education, Republic of China (Taiwan), 2017. URL: http://english.moe.gov.tw/ct.asp?xItem=8008&CtNode =3891&mp=1 (accessed 06 April 2017).
  • Mundell R.A. International Trade and Factor Mobility. American Economic Review, 1957, vol. 47, pp. 321-335.
  • SEF - Strait Exchange Foundation, 2017. URL: http://www.sef.org.tw/mp.asp?mp=300.
  • Samuelson P.A. International Trade and the Equalization of Factor Prices. Economic Journal, 1948, vol. 58, pp. 163-184.
  • Sanchez-Rubalcava D. Understanding the Differences of Research and Development Between Korea and Taiwan (Thesis). Taiwan, National Taiwan University; College of Management, 2014. 38 p.
  • Statistic Times - List of Countries by Projected GDP (on the basis of International Monetary Fund World Economic Outlook, 21 October 2016). URL: http://statisticstimes.com/economy/countries-by-projected-gdp.php (accessed 02 April 2017).
  • Taiwan and China sign landmark trade agreement BBC News (29 June 2010). URL: http://www.bbc.com/news/10442557 (accessed 01 April 2017).
  • Wade R. Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization. Princeton, Princeton University Press, 1990, pp. xiv + 438.
  • Wang J.-C. ProspectsandChallengesforTaiwan’s Economy in 2005. Taiwan Development Perspectives. Taipei, National Policy Foundation, 2015, 251 p.
Еще
Статья научная
QR-код для установки приложения SciUp Наведите камеру и скачайте бесплатное приложение SciUp