The increasing irrelevance of industrial policy in Taiwan, 2016–2020

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

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Detail(s)

Original languageEnglish
Title of host publicationTaiwan during the first Administration of Tsai Ing-wen
Subtitle of host publicationNavigating in Stormy Waters
EditorsGunter Schubert, Chun-yi Lee
Place of PublicationAbingdon, Oxon
PublisherRoutledge 
Chapter6
Pages128-141
ISBN (Electronic)9781003206323
ISBN (Print)9781032072807, 9781032072821
Publication statusPublished - 22 Oct 2021

Publication series

NameRoutledge Research on Taiwan Series

Abstract

Like every democratically elected president in Taiwan before her, in her first term, President Tsai proposed and implemented various industrial policies designed to create new or bolster hopefully emergent industries. Unfortunately, industrial policy has proven to be increasingly irrelevant in terms of failing to deliver on upgrading new or inchoate industries in Taiwan. This increasing irrelevance of industrial policy preceded Tsai's administration and has deep structural and institutional roots. To the extent that industrial policy was impactful during Tsai's first term, it did so by supporting existing industries and firms, such as TSMC, and via the continued hidden industrial policy of currency intervention to promote exports. Taiwan's economy and Tsai's administration did benefit from Trump's trade war with China. Recent trends such as the return of Taiwanese manufacturing from China would not have occurred without the trade war. However, any future broader decoupling between the US and China's economies beyond that of Trump's limited trade war could badly hurt Taiwan.

Bibliographic Note

Research Unit(s) information for this publication is provided by the author(s) concerned.

Citation Format(s)

The increasing irrelevance of industrial policy in Taiwan, 2016–2020. / Fuller, Douglas B.

Taiwan during the first Administration of Tsai Ing-wen: Navigating in Stormy Waters. ed. / Gunter Schubert; Chun-yi Lee. Abingdon, Oxon : Routledge , 2021. p. 128-141 (Routledge Research on Taiwan Series).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review