1970年代臺灣經濟的危機與調整：制度變革、貿易網絡與產業發展

Taiwan’s Economic Crisis and Adjustment during 1970s: Institution Revolution, Trade Network and Industrial Development

本文著重討論1970年代臺灣匯率制度、貨幣市場、大貿易商政策及產業界活動的轉變，以上議題不僅能同時關注個體與總體經濟2個層面，亦可瞭解政府從產業經濟邁向總體經濟的制度變革過程。
研究結果發現，1970年前政府著重增加各種產品的生產，之後在面對國際經濟制度的變革下，始以總體經濟層面為考量建立貨幣市場和調整匯率制度，並因與日本斷交而提出大貿易商政策。當時部分產業在石油危機前因缺少景氣循環的意識，仍採樂觀心態進行投資，惟實際上僅能仰賴合併維持營運。十大建設規劃的部分企業，也因物價上漲出現建廠預算不足，最終僅能仰賴政府增資解決困境。

This paper focuses on the exchange system, the establishment of monetary market, the large merchant policy, and industry’s activities in Taiwan during 1970s. Through such discussions, not only can we address both microeconomic and macroeconomic aspects within the economic system, but we can also comprehend the transition of the government’s policy from focusing on microeconomy to macroeconomy.
The results of the study found that the government focused on increasing the production of various products before 1970. In the 1970s, under the transformation of international economic system, it established the money market and adjusted the exchange rate system from macroeconomic perspectives. Facing the severance of diplomatic relations between Japan and Taiwan, the Taiwan government had further proposed the large merchant policy. Before the oil crisis, some industries lacking awareness of economic cycles still adopted optimistic investments. These industries could only rely on mergers to maintain operations during the oil crisis. Some of the enterprises under the Ten Major Construction Projects also faced budgetary shortages for construction due to rising prices, and at last they had no choice but to only rely on government capital injection to solve their difficulties.