Abstract
Taiwan's economic development faces two problems, one is the imbalance of the economic structure, and the other is that the industrial structure must be upgraded. This is a problem that has existed since the 1990s, but it has not been solved for a long time. The outbreak of the world financial crisis in 2008 severely damaged the international economy and finance, and Taiwan suffered a huge economic shock. In the face of an economic predicament, Taiwan attempts to transform the unbalanced economic system through technological innovation through public investment and the updating of corporate equipment, and sets the goal of sustainable development, of which high-tech industries have become the focus of economic development. This paper takes the financial crisis as the research period, analyzes the growth of the industries and their causes through the economic growth decomposition model, and estimates the CO 2 emissions generated, which will help understand Taiwan's future economic development. The research results show that the growth of high-tech industries after the financial crisis is dominated by semiconductors and power equipment-related industries. The growth factor is innovation of input technology and the improvement of self-sufficiency. At the same time, CO 2 emissions are mainly caused by these two factors. Keywords: high-tech industries, CO 2 emissions, input technology, growth decomposition model. JEL Classifications: Q43, C6, E2, E210 DOI: https://doi.org/10.32479/ijeep.9411
Highlights
From 1981 to 2016, Taiwan underwent liberalization, internationalization, and global economic changes
After joined the World Trade Organization (WTO) in 2002, Taiwan became a member of the WTO, and expanding international trade has changed the industrial structure
This section empirically analyzes whether this trend has changed after the financial crisis
Summary
From 1981 to 2016, Taiwan underwent liberalization, internationalization, and global economic changes. In the course of economic development during these 35 years, except for the Internet bubble economy in the United States in 2002 and the impact of the global financial crisis in 2009, Taiwan has shown economic growth. After joined the World Trade Organization (WTO) in 2002, Taiwan became a member of the WTO, and expanding international trade has changed the industrial structure. In 1981, the GDP of agriculture, industry, and services accounted for 7.35%, 43.83%, and 48.82% of the overall industry. By 1988, the service industry had exceeded 50%, and the proportion of agricultural output value had dropped significantly. By 2016, the agricultural, industrial and service industries’ GDP ratios were 1.82%, 35.06% and 63.13%, respectively. Taiwan’s industrial structure has changed a lot after joining the WTO
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