Industry Policy in Taiwan and Korea in the 1980s

Heather Smith, Fellow, Division of Economics, Research School of Pacific and Asian Studies and Asia Pacific School of Economics and Management, Australian National University, Australia

• Contents: Introduction: Winning with the Market or Governing the Market? 1. The Role of Government in the Industrialisation of Taiwan and Korea 2. Taiwan’s Industry Policy in the 1980s 3. Korea’s Industry Policy Legacy 4. Picking Winners or Sustaining Losers? 5. Did Industrial Policy Really Contribute to Industrial Upgrading? 6. Determinants of Industrial Competitiveness 7. Did Industry Policy Interventions Result in Sustained Productivity and Export Growth? 8. Revision of the Revisionists: The 1997–8 Asian Crisis Appendices Bibliography Index

'This is a very good piece of research. As a book, it is important because it focuses on important conceptual and empirical issues, namely the role of government and industrial policy in promoting rapid economic growth; and particularly the case of Taiwan as an exemplar of rapid industrial development. The author convincingly refutes the view that sector-specific industrial policy was an important source of Taiwan's rapid industrial growth in the 1980s.'