KEY FACTORS FOR HIGH GROWTH WITH EQUITY — THE TAIWAN EXPERIENCE, 1952–1990

The Republic of China on Taiwan has achieved one of the world's highest rates of economic growth over the past four decades. At the same time, it has attained price stability, full employment, and an equitable distribution of income. The purpose of this paper is to discuss how that growth came about, and to show what natural factors and government policies contributed to the nation's economic success. This paper is divided into a review of the past performance of the Taiwan economy, an evaluation of the main government policies contributing to its success, an examination of its current issues, and a discussion of future prospects in terms of its Six-year National Development Plan.