Post-Industrial Development in East Asia Taiwan and South Korea in C
This book purports to investigate and compare the economic development experiences in both Taiwan and South Korea in last two decades. Taiwan and South Korea’s economic development after WWII is a well-known story. However, their development after the suc
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Min-Hua Chiang
Post-Industrial Development in East Asia
Min-Hua Chiang
Post-Industrial Development in East Asia Taiwan and South Korea in Comparison
Min-Hua Chiang East Asian Institute National University of Singapore Singapore, Singapore
ISBN 978-981-13-0273-2 ISBN 978-981-13-0274-9 (eBook) https://doi.org/10.1007/978-981-13-0274-9 Library of Congress Control Number: 2018942744 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: Modern building window © saulgranda/Getty Printed on acid-free paper This Palgrave Pivot imprint is published by the registered company Springer Nature Singapore Pte Ltd. part of Springer Nature. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
Contents
1 Introduction 1 2 Sustaining Taiwan’s and South Korea’s Post-Industrial Economic Growth: The China Factor 23 3 The Changing Role of SMEs in Taiwan’s and South Korea’s Economies 49 4 Comparing Governments’ Policies in Promoting Economic Growth (I): Industrial Upgrading Policies 71 5 Comparing Governments’ Policies in Promoting the Economic Growth (II): Free Trade Policy 93 6 New Challenges Ahead (I): Growing Income Inequality 113 7 New Challenges Ahead (II): Aging Population 133 8 Conclusion 153 Index 163 v
List of Figures
Fig. 1.1 Fig. 1.2 Fig. 1.3 Fig. 1.4 Fig. 1.5 Fig. 2.1 Fig. 4.1 Fig. 5.1 Fig. 5.2 Fig. 6.1
Taiwan and South Korea’s annual economic growth rates 1961–1991. Source: IMF (2015) 3 Taiwan and South Korea’s annual economic growth rates 1995–2016. Source: International Monetary Fund (2015) 12 Taiwan and South Korea’s per capita GDP 1995–2015. Source: International Monetary Fund (2015) 14 Inward FDI in Taiwan and South Korea 1995–2014. Source: World Investment Report, UNCTD (various
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