Taiwan's economic development experience represents a unique case study especially in the wake of the Asian financial crisis. Taiwan has performed outstandingly in terms of macroeconomic and industrial development, particularly during recent democratic and social change. This book aims to provide a broad picture of these institutional reforms and policy evolutions. The expert contributors detail and examine the interactive relationship between Taiwan's economic liberalization, political democratization and social pluralization. Taking 1980 as a watershed, the book highlights the impact these economic and cultural changes have exerted on SMEs, foreign trade and investment, technological progress, industrial development and policy, and the reform of financial and fiscal systems. They investigate the contentious issue of whether political democratization is beneficial for economic development and go on to discuss the creation of an efficient Taiwanese economy and the resolution of conflicts created by social pluralization. The book analyses the comparative advantage of Taiwan over comparable countries, paying particular attention to the Asian financial crisis. The authors offer a fresh approach by observing Taiwanese development post 1980 and integrating economic, political and social analysis. As such, development economists and scholars of Asian economics will find this unique book both useful and enlightening.