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Change and Continuity of Taiwan’s Development Model after the Global Financial Crisis

  • Asia Review
  • Abbr : SNUACAR
  • 2022, 12(2), pp.41~72
  • Publisher : 아시아연구소
  • Research Area : Social Science > Social Science in general
  • Received : June 8, 2022
  • Accepted : July 29, 2022
  • Published : August 31, 2022

LIM, HAERAN 1 Cho, Han Na 1

1서울대학교

Accredited

ABSTRACT

This study intends to explore change and continuity in key factors of the East Asian development model after the 2008 global financial crisis in Taiwan. Taiwan had continued sluggish growth since the 2000s. Economic polarization and hollowing out of the manufacturing industry accelerated since the 2008 global financial crisis and the pro-China economic policy of the Ma Ying-jeou regime. Several critical factors have played an essential role for the sluggish growth in the East Asian development model. There was a relative decline in bureaucratic autonomy and cohesiveness of state organization, fragmentation of cooperative network between the state and the socio-economic forces, including the businesses, and the ‘identity issue’ as an obstacle of consistent policy implementation for national growth. However, other critical factors of the development model, such as the developmental orientation of innovation and institutional legacy, which emphasizes the conservative and stable financial system, have played an essential role in the evolution of the development model in Taiwan.

Citation status

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