Taiwan was a typical Capitalist Developmental State (CDS) from the 1960s through the 1980s. In this article the effects of the Asian Financial Crisis and the two political shocks that it sandwiched are assessed. We find that Taiwan's CDS structure has been seriously undermined for political, not for economic, reasons.
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Errata: In the September/October 2016 issue (volume 56 number 5, pages 836 and 849), there was a technical printing error in Figures 1b and 2 of the article by Ajay Raina that resulted in a loss of data on the graphs. This online article contains the restored figures in their original, correct state. The error is regretted.