Taiwan's Economic Development Research Articles

Comparison of Hong Kong And Taiwan Economic Development in the Context of the Oil Crisis

Hong Kong and Taiwan are part of China and are similar in politics, economy, culture, etc. But in response to the two oil shocks in the 1970s, the two places showed different patterns of economic decline. Taiwan's economy reacted quickly to the oil shock, but the decline was more moderate, while Hong Kong's recession tended to lag global crises, but the reduction was more significant. From the perspective of industrial structure, this paper analyzes the differences in development strategies and industrial structure before the first oil strike and between them through case comparison. This paper finds that Taiwan's economic decline pattern was closely related to its vigorous development of the import substitution industry. In contrast, Hong Kong's industry and trade were less affected, but the rapid growth of finance and real estate at that time created economic instability. The author believes retaining a specific high-end manufacturing industry can stabilize the local economy. The conclusions of this paper can be used for reference in the economic transformation of developing regions.

Taiwan’s development of neoliberalism

This article analyzes the adoption of neoliberalism in Taiwan and its impact on financial, labor, and industrial policies. Taiwan adopted neoliberalism in the late 1970s, facing challenges in maintaining autonomy against global pressures and domestic business interests. The state-controlled market underwent a significant transformation because of the sacrifices made for various stakeholders. Taiwan's strong economic growth has been recognized globally, making it an example for other developing countries to implement neoliberal policies. This article focuses on the period after the 2008 global financial crisis, in which Taiwan implemented monetary and fiscal policies to stabilize the financial system and generate domestic demand. While supporting corporate financing and facilitating personal relationships with banks, the government aims to restore financial stability. The Taiwanese state has consistently pursued the values of neoliberalism while maintaining balance with societal-oriented policies. The government's approach to this problem has evolved, demonstrating efforts to overcome the side effects of neoliberal policies. Ultimately, Taiwan's economic development reflects the complex play of neoliberalism and its impact on various sectors in the country.

Revisiting economic growth and CO2 emissions nexus in Taiwan using a mixed-frequency VAR model

This study, for the first time in Taiwan, uses the mixed frequency vector autoregressive (MF-VAR) model in the high-frequency dataset to investigate the causal association between economic progress and carbon dioxide emissions over time periods spanning from 1970Q1-2019Q4. This study also includes primary energy consumption as a control variable for analysis since the bias of missing variables could lead to misleading results. In accordance with the forecast error variance decomposition and the Granger causality test, our empirical findings imply that the MF-VAR model has more explanatory power than the traditional VAR model. The empirical LF-VAR model results demonstrate a reciprocal and causal association between economic progress and carbon dioxide (CO2) emissions is supported by evidence; primary energy consumption significantly influences economic progress. Additionally, MF-VAR model results also indicate, in Taiwan, a reciprocal and causal association between economic progress and carbon dioxide emissions as well as between primary energy consumption and economic progress. Based on the finding of the results, this study suggests policy implications to the government that an effective energy strategy should be addressed along with the plan for economic development in Taiwan.

EXPLORING THE TRADE RELATIONSHIP UNDER THE ASYMMETRIC INTERDEPENDENCE IN THE CROSS STRAIT

Taiwan is an island-oriented economic system’s state, its economic development depends on the expansion of international trade, while the economic and trade cooperation is becoming more and more important in the cross-strait, Taiwan's trade dependence on the mainland is high, the trade surplus is increasing year by year, but there is a statistical gap on the cross-strait economic and trade, and the real gap needs to be further analyzed in order to know the truth fact. The methodology in this study is Literature Review, it try to know the main factors affecting Taiwan's economic development. The mainland is vast in land and rich in resources and rapid economic development; However, Taiwan is small area and poor resources, and it’s economic growth is slowing down; In fact, there is indeed an asymmetry in trade relations between the cross-strait economic situation, but the degree of interdependence is different. Taiwan has a competitive advantage in high-tech industries, a good investment and financial environment, and a continuous trade surplus with the mainland, and it can also be found that Taiwan has a competitive advantage from the trade special coefficients (TSC) index, and cannot be determined by the total amount of trade completely. Although the political and economic environment is different between the two sides of the strait, those of non-governmental work such as investment, consumption, and trade cooperation has become an important key factor in the economic development between Taiwan and the Mainland China

Sustainable Material Management of Industrial Hazardous Waste in Taiwan: Case Studies in Circular Economy

In recent years, the rapid economic development in Taiwan has resulted in greater complexity in handling industrial hazardous waste. The main aim of this paper was to present a trend analysis of the online reported amounts of industrial hazardous waste from the official database over the past decade (2010–2020). In addition, this study focused on the environmental policies and regulatory measures for the mandatory material resources from industrial hazardous waste according to the promulgation of the revised Waste Management Act. It was found that the annual reported amounts of industrial hazardous waste ranged from 1200 thousand metric tons to 1600 thousand metric tons, reflecting a balanced relationship between the industrial production and waste management. Based on the principles of resource recycling and circular economy, some case studies for specific types of industrial hazardous waste (including spent acid etchant, spent pickling liquid, and spent dimethyl formamide-contained liquid) were compiled to echo the government efforts in sustainable material management. In Taiwan, recycling amounts in 2020 were recorded up to 92,800, 130,460, and 54,266 metric tons, respectively. It was suggested to be a successful circular economy model in the printed circuit boards, steel/iron processing, and synthetic leather industries. In order to effectively reduce the environmental loadings and conserve material resources from industrial hazardous waste, some recommendations were also addressed to provide for the policy makers, environmental engineers and process manager.

Economy as literature’s “other”: on the economic thoughts of Hu Qiuyuan and Park Hyun-chae

ABSTRACT The field of “thought” in East Asia has begun to shrink since the 1980s and separated from its intellectual tradition. This essay aims to recover the gap between the two by focusing on the economic thoughts in the 1970s, which have since become an “other” of the literary field. It analyses the cases in Taiwan and South Korea by way of inter-referencing. During the same era, Hu Qiuyuan provided the basis of economic thoughts for the native-soil literature camp in Taiwan, while Park Hyun-chae’s theory of national economy laid the conceptual foundation of the debate on national literature in South Korea. Both Hu and Park criticized neo-colonialism wholeheartedly. On one hand, by means of the historical legitimacy of the Republic of China, Hu Qiuyuan proposed the creation of a “government-people” subjectivity in order to rectify the direction of economic development in Taiwan. Based on his idea that minzu literature = guomin literature—both read national literature—he developed the intellectual concexmlParserErrorpt of innate genius based on materialism. On the other hand, given that the Republic of Korea lacked historical legitimacy, Park Hyun-chae attempted to develop an alternative subjectivity of nationalism based on people. He found possibilities of practicing it in the agricultural field and small and medium enterprises. Due to the absence of a national revolution in South Korea, he emphasized on the ethics of knowledge which eventually brought him to develop his concept of minjung literature (people’s literature) = minjok literature (national literature).

A STUDY ON THE RELATIONSHIPS AMONG PERSONALITY TRAITS, ENTREPRENEURIAL MOTIVATION AND PERFORMANCE - TAKING MICRO PHOENIX ENTREPRENEURS AS AN EXAMPLE

Small and micro enterprises, the main foundation for Taiwan's economic development, have been affected by the global financial crises and economic storm in recent years. Along with an unstable international environment, slow economic growth, rising raw material costs; external business shifts, changing population structure, imminent industrial transformation, the micro-enterprises are facing unprecedented challenges. Therefore, the government has provided a series of subsidiary arrangements, including the Mini Phoenix Entrepreneur Loan, the focus of this study.This study explores whether personality traits and entrepreneurial motivations have an impact on entrepreneurial performance. Questionnaires were distributed to qualified micro-phoenix entrepreneurs infive districts (north, central, southern, eastern, and outlying islands) and interviews were conducted. Outof 2,500 questionnaires distributed, 341 responded, with a 13.6% response rate. Correlation, regression,and cluster analyses were adopted to verify research hypotheses.The empirical results show that the personality traits of micro-Phoenix entrepreneurs are related to entrepreneurial motivation; personality traits have influence on performance; entrepreneurial motivationalso has a partial impact on entrepreneurial performance.This study is intended to increase the understanding of Phoenix lenders, clarify the factors affecting Phoenix loan entrepreneurs, and then contribute to the operation and development of micro-enterprises.

DECOMPOSITION OF GROWTH FACTORS IN HIGH-TECH INDUSTRIES AND CO2 EMISSIONS: AFTER THE WORLD FINANCIAL CRISIS IN 2008

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

The management practice and its experience for the collection and treatment of waste home appliances in Taiwan, China

The collection and treatment of waste home appliances (WHAs) is a challenging issue in both academia and practice today. In the 1980s, a WHAs collection and treatment industry dominated by spontaneous market emerged in Taiwan, China, which was featured by small-scale, scattered and unregulated treatment activities, causing serious environmental pollution and health damage. Taiwan authorities have vigorously strengthened the industrial supervision and guidance, and basically curbed such simple treatment activities by the beginning of the 21st century. Focusing on the “Resource Recycling Fund” system implemented by Taiwan, this paper systematically introduces the management measures and implementation effect in WHAs collection and treatment industry in Taiwan, with a view to providing a reference for improving the WHAs management in Mainland China. It is argued that the success of WHAs management in Taiwan attributes to the following three important factors: (1) with the awakening of public consciousness on environmental protection and the gradual improvement of the rule of law, a solid environmental supervision system has been formed; (2) due to the improvement in the economic development in Taiwan and the rising labour costs, the labour-intensive simple treatment operations become unprofitable; (3) a long-standing pricing mechanism for WHAs collection and treatment has been established through the implementation of “Resource Recycling Fund” system.

The analysis of sustainable development strategies for industrial tourism based on IOA-NRM approach

Taiwan's economic development has gradually shifted from the manufacturing industry to the service industry. The manufacturing industry faces cheap competition from neighboring countries (such as China and Southeast Asian countries). As industrial enterprises relocate their production facilities to China and Southeast Asian nations, they must think about how to restructure the industry. Industrial tourism has been adopted as a form of industrial transformation. In recent years, an increasing number of conventional industrial enterprises have begun to transform production-oriented manufacturing and production plants into tourism facilities. This trend not only promotes industrial transformation but also helps industrial operators rethink how to create corporate value through service innovation as well as to determine future development directions for the manufacturing industry. Thus, this study attempts to identify the driving force of service facilities based on industrial tourism views. This study can help industrial operators review their value-driving forces while also helping them to understand the critical success factors for industrial transformation and determine the appropriate tourism transformation strategy. Additionally, this study explores tourists' need for industrial tourism and integrates the tourists' preference for service innovation and service demands for industrial tourism. This study proposes the IOA-NRM (innovation opportunity analysis-Network Relation Map) approach, which combines the IOA technique and NRM technique. The service/function of EH (educational heritage) not only increases the product/service knowledge for customers but also strengthens their enterprise identification with educational heritage consciousness. Therefore, the service providers of industrial tourism can identify the service innovation strategies and conventional industrial enterprises to find new market value via the IOA-NRM approach.

SOURCES OF ECONOMIC GROWTH AND CHANGES IN ENERGY CONSUMPTION: EMPIRICAL EVIDENCE FOR TAIWAN (2004-2016)

Since the 1990s, Taiwan has promoted the upgrading of industrial structure, and the financial crisis has brought about major economic shocks. After Taiwan became a WTO member in 2002, the total trade volume increased significantly under the trade liberalization economic system. The trade sector has become the main source of Taiwan's economic growth. As energy consumption expands with economic growth, the instability of international energy prices has become an important factor hindering Taiwan's future economic development. Taiwan’s energy demand is over 99% dependent on imports, making Taiwan’s economic growth and energy consumption really closely related. This study has found that the source of growth has transformed from domestic final demand effect and exports effect to technical coefficients effect and self-sufficiency Coefficients effect. The financial crisis has increased the “self-sufficiency” coefficient effect and the technical coefficient effect, and all other industries except the “agricultural sector” have shown significant growth. On the other hand, the source of energy consumption has changed after the financial crisis. This also confirms that Taiwan's economic growth is closely related to energy consumption, indicating that energy shortage has indeed had an important impact on Taiwan's economic development.

The effects of skills and challenges, perceived risk, and flow experience on experience value and satisfaction - a study on adventure recreation in Taiwan

This paper utilised a questionnaire to study the impact of experience value and satisfaction linked to adventure recreation for Taiwan's economic development and for policy development in emerging economies. There were 480 participants who took part in adventure recreation in Taiwan. PLS measurement of the model revealed the GOF was 0.369, while the SRMR was 0.051, reaching a significant level. The whole model can explain 56.1% of satisfaction and 59.7% of experience value, showing the model is excellent.

The effects of skills and challenges, perceived risk, and flow experience on experience value and satisfaction - a study on adventure recreation in Taiwan

This paper utilised a questionnaire to study the impact of experience value and satisfaction linked to adventure recreation for Taiwan's economic development and for policy development in emerging economies. There were 480 participants who took part in adventure recreation in Taiwan. PLS measurement of the model revealed the GOF was 0.369, while the SRMR was 0.051, reaching a significant level. The whole model can explain 56.1% of satisfaction and 59.7% of experience value, showing the model is excellent.

Основные проблемы и ограничения экономического развития Тайваня

Основные проблемы и ограничения экономического развития Тайваня

Assessing performance of Taiwan hospitals using data envelopment analysis: In view of ownership.

With rapid economic development in Taiwan, people have greater awareness of health care and are paying more attention to it. From the perspective of hospital management, the scale of hospitals and efficiency improvement are of concern to hospital managers. However, the extent of efficiency will differ between public and private hospitals due to their different ownership and goals. The study aims to evaluate the efficiency of public and private hospitals and to investigate the influence of ownership on efficiency of hospitals. The differences between hospitals can be understood by analyzing the features of the organization of hospitals and their geographic environment. In this way, hospitals with relatively low efficiency will be able to make improvements based on concrete evidence. By means of the two-stage method, the efficiency scores of 182 hospitals in Taiwan are compared. In the first stage, the data envelopment analysis is applied to obtain the efficiency scores of hospitals. The results show that private hospitals are more efficient than public hospitals. In the second stage, Tobit regression is used to investigate the factors influencing efficiency obtained by the data envelopment analysis. The results indicate that there are differences between ownership in market competition and the average length of stay.

From limited access to open access order in Taiwan

This essay attempts to explain the process of the institutional transition of Taiwan, applying the limited and open access orders framework proposed by D.C. North, J. J Wallis and B. R. Weingast. The article analyses economic and political reforms in order to extract the factors positively affecting the process of economic development in Taiwan. The findings indicate that the key factor was the security threat of Communist China. However, other conditions were also important. It should be noted that Chiang Kai-shek’s government could learn from its past mistakes, and it was an outsider regime. Moreover, the USA aid helped to consolidate the dominant coalition. Finally, ethnic tensions between the newcomers from the Mainland and the Taiwanese resulted in the separation of the political sphere from the economic sphere, which was conducive to economic development.

Modeling the impact of service innovation for small and medium enterprises: A system dynamics approach

Small and medium-sized enterprises have played an important role in Taiwan's economic development. As the importance of service grows, SMEs could undergo transformation via service innovation. SMEs are likely to encounter within the context of globalization and tried to identify the key factors influencing service innovation. Resource-based theory was used to construct system dynamics models for the SMEs prior to and after service innovation in order to develop a set of evaluation mechanisms. Simulation results showed that SMEs face operational difficulties due to globalization. Thus, SMEs should invest appropriate resources to develop market adaptability, knowledge application capability, collaboration abilities, and the effective application of information technology. This will enhance the overall service innovation capability of the business, which could then establish a new service value and increase market competitiveness.

Taiwan's Foreign Aid in Transition: From ODA to Civil Society Approaches

AbstractSince the 1950s, Taiwan and China have utilized foreign aid as an instrument of foreign policy. After Taiwan's forced withdrawal from the United Nations in 1971, diplomatic and aid-giving competition with China became more intense. As a result, Taiwan's and China's struggles to gain supporters have been reflected in foreign aid strategies. Taiwan's bid for the UN and the WHO, and the issue of diplomatic recognition empirically demonstrate the utilization of aid to obtain diplomatic support from recipient countries, and, frequently, any decisions are heavily influenced by the competition it experiences with China. Theoretically, this highlights an importantrelationalframework for analyzing foreign aid decisions – particularly the management of foreign relations of small states or middle powers simultaneously influenced by greater powers and aid recipient states.Using data from ICDF and related reports, we observe geographically concentrated patterns in the distribution of Taiwan's aid recipients from 1988 to 1997 – mostly in Latin America and Southeast Asia. In contrast to China's foreign aid which emphasizes infrastructural development, the spirit of Taiwan's economic development aid programs often took the form of technical cooperation. However, a high percentage of aid went to countries with diplomatic ties to Taiwan. With civil society development and increased international activities of Taiwanese NGOs in humanitarian relief and development projects after 2000, we find a new emerging set of geographical aid distribution patterns that expand beyond countries that recognize Taiwan. In addition, while the process of incorporating civil society into foreign aid work was initiated by the ICDF the following decade, Taiwanese NGOs have increasingly demonstrated autonomous international agendas, funding, and direction, as well as the formation of civil society alliances that work on common international development issues.

Corporate Governance, Professional Education, and Employee Bonus in High-Tech Industry- Evidence from Taiwan

High-tech industry plays the role of motivator in the economic development in Taiwan, revealing that high-tech industry is not simply the most important breadwinner in Taiwan, but also the powerful backing of national competitive advantage under the globally competitive system. High-tech industry requires the engagement of excellent talents, but the staff turnover rate is commonly high. A lot of businesses therefore apply employee bonus and the high development of high-tech industry as the incentives to recruit and retain talents. In this case, it is important for high-tech industry understanding the factor in employee bonus and further discussing the relationship among current corporate governance mechanism, professional education, and employee bonus for the sustainable development. Taking domestic listed high-tech companies as the research objects, the database of Taiwan Economic Journal and Taiwan Patent Gazette are the data sources to collect the companies’ financial statement, patent, and stock price data for the empirical research. The research results conclude the significantly positive correlations between 1) corporate governance and employee bonus, 2) professional education and corporate governance, and 3) professional education and employee bonus. Finally, conclusion and suggestions are proposed, expecting to assist high-tech businesses in promoting the employee bonus system.

台湾・韓国経済の長期的動向分析、一九〇三-一九八三年

台湾・韓国経済の長期的動向分析、一九〇三-一九八三年