Taiwan's Economy: Four Hundred Years

From the establishment of the Dutch trading post in Tainan in 1624 until the end of the Qing Dynasty (1684-1895), Taiwan enjoyed a backward, traditional agricultural economy. Following Japanese rule, the island promoted infrastructure development, including public health, land surveys, and the development of transportation systems, kick-starting modern economic growth. Following World War II, economic development stagnated under the Nationalist government's regulatory policies. During the period of US aid (1950-1965), under US leadership and pressure, some regulations were relaxed, leading to a gradual return to a market economy and a period of rapid growth in the early 1960s. The sustained rise in Taiwanese income levels during a period of rapid growth is a rare phenomenon in human history and is therefore considered a miracle by economists. This book explains how Taiwan's economic trajectory over the past 400 years confirms the economic view that a free market economy is most conducive to economic growth. Furthermore, the transformation of Taiwan's economic system was facilitated by Japanese colonial rule and US aid.

2023-03-01

春山出版

552

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