“The buffer stock theory” derived from the intertemporal utility maximization predicts that an increase in wealth will dampen the motive for precautionary savings and therefore reduce consumption’s over-sensitivity with respect to income changes. Since over the last forty years Taiwan has...

Taiwan became a leading worldwide manufacturer of computer hardware in the 1990s. The purpose of this paper is to review the process that led to the birth and growth of Taiwan's information-communication technology (ICT) industries. We further discuss such factors as research and development,...

The international flow of long-term private capital has increased dramatically in the 1990s. In fact, many policymakers now consider private foreign capital to be an essential resource for the acceleration of economic growth. This volume focuses attention on the microeconomic determinants and...