Over the past four decades, Taiwan has achieved remarkable economic growth. In this important book, a distinguished group of contributors employs a comparative perspective to explore the reasons behind and the lessons to be learned from Taiwan's success. Included in the analysis is an insight into the strategy for economic development, the effectiveness of import substitution and the influence of foreign firms in Taiwan's development. The contributors also analyze the implications of development for income distribution and assess the effect of economic growth on inequality, female labor force participation and income mobility. The possibilities for a more even income distribution are then examined within the context of technological progress and a better education system. Finally, the authors explore the institutional foundation for industrialisation and the relationship between democratization and economic development in order to help explain Taiwan's extraordinary achievement.

This book will be of great interest to scholars of Asian studies, development studies and international economics.