IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2019v3p206-212.html

Sustainable Economic Development: The Case Of Taiwan

Author

Listed:
  • SORIN-GEORGE TOMA

    (FACULTY OF BUSINESS AND ADMINISTRATION, UNIVERSITY OF BUCHAREST, BUCHAREST, ROMANIA)

Abstract

After the end of the Second World War Taiwan ranked among the poorest countries of the world. In spite of its limited natural resources, it has succeeded in building a dynamic and open free market economy that is driven by industrial manufacturing and reached a gross domestic product per capita at purchasing power parity of more than $50,000 in 2017. In a relatively short period of time, Taiwan achieved impressive industrialization and high economic growth. The aim of the paper is to identify and analyse in brief the key factors that conducted Taiwan towards sustainable economic development. The methodological approach was based on a quantitative method and a case study. The paper shows that the role of state in economy, the rapid industrialization and the importance of education are among the key factors that enabled Taiwan’s sustainable economic development. The “state and market” approach proved to be highly beneficial for Taiwan.

Suggested Citation

  • Sorin-George Toma, 2019. "Sustainable Economic Development: The Case Of Taiwan," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 206-212, June.
    • Handle: RePEc:cbu:jrnlec:y:2019:v:3:p:206-212
    as

    Download full text from publisher

    File URL: http://www.utgjiu.ro/revista/ec/pdf/2019-03/27_Toma2.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lin, Tin-Chun, 2004. "The role of higher education in economic development: an empirical study of Taiwan case," Journal of Asian Economics, Elsevier, vol. 15(2), pages 355-371, April.
    2. Fen‐May Liou & Cherng G. Ding, 2007. "Trust and economic growth in a democratic power shift: an empirical study of Taiwan," International Journal of Development Issues, Emerald Group Publishing Limited, vol. 6(1), pages 63-78, February.
    3. Yeun-wen Ku, 1997. "Welfare Capitalism in Taiwan," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37787-5, March.
    4. Laura Routley, 2012. "Developmental states: a review of the literature," Global Development Institute Working Paper Series esid-003-12, GDI, The University of Manchester.
    5. Pan-Long Tsai, 1999. "Explaining Taiwan’s Economic Miracle: Are the Revisionists Right?," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 6(1), pages 69-82.
    6. Fen‐May Liou & Cherng G. Ding, 2007. "Trust and economic growth in a democratic power shift: an empirical study of Taiwan," International Journal of Development Issues, Emerald Group Publishing Limited, vol. 6(1), pages 63-78, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Catalin GRADINARU & Sorin-George TOMA & Stefan CATANA, 2021. "Sustainability And Competitiveness At The Global Level: An Analysis Of The Top 10 Countries In The Period 2018-2020," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 6(3), pages 121-128.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Xindong Xue & W. Robert Reed & Robbie C. M. van Aert, 2025. "Social capital and economic growth: A meta‐analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 39(4), pages 1395-1432, September.
    2. Daniel Ştefan Armeanu & Georgeta Vintilă & Ştefan Cristian Gherghina, 2017. "Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries," Sustainability, MDPI, vol. 10(1), pages 1-22, December.
    3. Khattak, Naeem Ur Rehman & khan, jangraiz, 2012. "The Contribution of Education to Economic Growth: Evidence from Pakistan," MPRA Paper 51180, University Library of Munich, Germany.
    4. Bogdan Oancea & Richard Pospíšil & Raluca Mariana Drăgoescu, 2017. "Higher Education and Economic Growth. A Comparison between Czech Republic and Romania," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(4), pages 467-486.
    5. Siew Hwa Yen & Wooi Leng Ong & Koon Peng Ooi, 2015. "Income and Employment Multiplier Effects of the Malaysian Higher Education Sector," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 9(1), pages 61-91, February.
    6. Guangyou Zhou & Kuangxiong Gong & Sumei Luo & Guohu Xu, 2018. "Inclusive Finance, Human Capital and Regional Economic Growth in China," Sustainability, MDPI, vol. 10(4), pages 1-20, April.
    7. Vlad Dumitrache & Monica Raileanu-Szeles, 2014. "The Role of Business Education Provided Through Lifelong Learning in Enhancing Profesional Competencies. Evidence from the Eu-27 Dataset," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(37), pages 874-874, August.
    8. Weicheng Lyu & Nirvikar Singh, 2023. "Embedded autonomy, political institutions, and access orders," Economics and Politics, Wiley Blackwell, vol. 35(1), pages 286-312, March.
    9. Kwon, Huck-Ju, 1999. "Income transfers to the elderly in East Asia: testing Asian values," LSE Research Online Documents on Economics 6487, London School of Economics and Political Science, LSE Library.
    10. Shigeyuki Hamori & Yu-Ching Hsieh & Wan-Jun Yao, 2007. "An Empirical Analysis about Population, Technological Progress, and Economic Growth in Taiwan," Economics Bulletin, AccessEcon, vol. 15(23), pages 1-13.
    11. Aziz, Babar & Khan, Tasneem & Aziz, Shumaila, 2008. "Impact of Higher Education on Economic Growth of Pakistan," MPRA Paper 22912, University Library of Munich, Germany, revised 2008.
    12. Tan Kuan Lu, Clifford, 2014. "University Rankings Game and its relation to GDP per capita and GDP growth," MPRA Paper 53933, University Library of Munich, Germany.
    13. Jamelia Harris, 2021. "Foreign aid, human capital accumulation and the potential implications for growth," The Review of International Organizations, Springer, vol. 16(3), pages 549-579, July.
    14. Tan, Clifford, 2013. "The contribution of university rankings to country's GDP per capita," MPRA Paper 53900, University Library of Munich, Germany.
    15. Sarah Kuypers, 2014. "The East Asian welfare regime: reality or fiction," Working Papers 1404, Herman Deleeck Centre for Social Policy, University of Antwerp.
    16. Marcus Antonius Ynalvez & Jorge Luis Aviles, 2021. "Mentoring practices, developmental networks, and doctoral science training experiences," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(8), pages 6323-6347, August.
    17. Simon O'Meally, 2014. "The Contradictions of Pro-poor Participation and Empowerment: The World Bank in East Africa," Development and Change, International Institute of Social Studies, vol. 45(6), pages 1248-1283, November.
    18. Chen, Lei & Jiang, Nana, 2025. "A path towards China's energy justice: Is government intervention absolutely necessary?," Structural Change and Economic Dynamics, Elsevier, vol. 74(C), pages 92-106.
    19. Klingler-Vidra, Robyn & Chalmers, Adam William & Wade, Robert H., 2025. "Who’s governing the market? bringing the individual back into the study of the developmental state," World Development, Elsevier, vol. 191(C).
    20. Chan-Yuan Wong, 2016. "Evolutionary targeting for inclusive development," Journal of Evolutionary Economics, Springer, vol. 26(2), pages 291-316, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2019:v:3:p:206-212. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ecobici Nicolae (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.