Governing the Economic Transition: How Taiwan Transformed its Industrial System to Attain Virtuous Cycle Development

Wong, C.Y. and Hu, M.C. and Shiu, J.W. (2015) Governing the Economic Transition: How Taiwan Transformed its Industrial System to Attain Virtuous Cycle Development. Review of Policy Research, 32 (3). pp. 365-387. ISSN 1541-132X

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Official URL: http://dx.doi.org/10.1111/ropr.12122

Abstract

This study explores the transitional processes of Taiwan's innovation system over the past half century, evolving from being rooted in traditional industries to attaining development in a virtuous cycle of development. Our approach is inspired by the Arena of Development theory and acknowledges the system of transformation failures, in which we highlighted the types of failures that might impede economic progress and how they were overcome in the evolutionary targeting of Taiwan's industrial development. Our findings demonstrate that the success of Taiwan's economic transition is targeted on, and evolves with, a series of macrolevel policies in the early phase of development; mesolevel institutional mechanisms to attain the industrial emergence settings; and, in pursuit of the virtuous cycle of development, the microlevel collaboration platform. We attribute the success of Taiwan's industrial system to this series of systematic government interventions. This study provides novel and salient normative principles that guide transformational policymakers in governing transitional processes of innovation system.

Item Type: Article
Uncontrolled Keywords: Evolutionary targeting policy; Industry; Innovation; Institutions; Normative principles; Taiwan; Transformation; Transition process
Subjects: Q Science > Q Science (General)
T Technology > T Technology (General)
Divisions: Faculty of Science
Depositing User: Ms. Juhaida Abd Rahim
Date Deposited: 28 Sep 2018 04:54
Last Modified: 28 Sep 2018 04:54
URI: http://eprints.um.edu.my/id/eprint/19458

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