Date of Award

9-2003

Degree Type

Thesis

Degree Name

Master of Law (LLM)

Department

Law

First Advisor

Christine Pagano

Second Advisor

Christian Okeke

Abstract

Sustained economic development since World War II was the phenomenon of the "East Asian Miracle," although the glory was tainted by the impact of the 1997 Asian financial crisis. South Korea, Taiwan, Singapore, and Hong Kong were among the East Asian Newly Industrializing Countries (NICs) who shared the phenomena but each had unique circumstances with which to deal. China, on the other hand, stagnated before the 1978 opening to the world but has improved spectacularly economically since, and retains its momentum going into the new millennium. The motive and dynamics of the East Asian economic phenomena have been studied thoroughly, and China seems to share some common bonds with its East Asian predecessors. This thesis analyzes the post-WWII economic progress of Taiwan, Singapore, and Hong Kong, as they were overseas Chinese societies to which China has given special treatment to entice investment, and which China has emulated since 1978. Economic planning or industrial policy was one of the common bonds of these East Asian NICs in achieving their economic development. Using Taiwan's tax incentive system as an illustration, this thesis analyzes Taiwan's system with a focus on how such a system evolves over time. Timely and effective responses in the face of challenges surely are the key to economic progress. Taiwan has managed to achieve certain progress even with its imperfect policy-making system. At this post-1997 crisis period, a close study of the Taiwan story may offer lessons for Taiwan, China, or any other developing countries in their ambition to achieve prosperity.

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