Abstract
Industrial development in Taiwan has been widely regarded as quite successful. Many scholars attribute this success to the country’s policies, especially its industrial policy. However, it is always difficult to verify the contribution of economic policies to the success of industrial development. Many people simply use the coexistence of industrial policies and successful industrial development as evidence of the success of industrial policies, disregarding the fact that such coexistence is at most a necessary condition for the success of industrial policies.
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