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COVID-19 in Taiwan: Economic Impacts and Lessons Learned

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  • Chun-Chien Kuo

    (Department of International Business National Taipei University of Business No. 321, Sec. 1, Jinan Rd. Zhongzheng District Taipei City 10051, Taiwan (R.O.C.))

Abstract

This paper illustrates Taiwan's experience in controlling the virus and curbing the impact of COVID-19 on its economy. All the following factors contributed to Taiwan's early success in fighting COVID-19: the early establishment of a command center, the “precision-prevention†model of strategies that includes tight border controls and strict quarantine policy, the procuring of sufficient anti-pandemic medical supplies, and educating residents about public health awareness (e.g., promoting face mask wearing in public, maintaining proper social distance, and handwashing procedures). In addition, the country's medical facilities and a national health insurance program that are already in place along with the utilization of technology and big data also played a crucial role during the pandemic. Taiwan's success story may open up opportunities for the country to assume a leading role as a facilitator in the reallocation of the global supply chain and the creation of a new worldwide health coalition that includes Taiwan, unlike its lonely efforts 17 years ago when SARS hit the Southeast Asian and Pacific regions.

Suggested Citation

  • Chun-Chien Kuo, 2021. "COVID-19 in Taiwan: Economic Impacts and Lessons Learned," Asian Economic Papers, MIT Press, vol. 20(2), pages 98-117, Summer.
    • Handle: RePEc:tpr:asiaec:v:20:y:2021:i:2:p:98-117
    DOI: 10.1162/asep_a_00805
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    Cited by:

    1. Salesi, Vinolia Kilinaivoni & Kan Tsui, Wai Hong & Fu, Xiaowen & Gilbey, Andrew, 2022. "Strategies for South Pacific Region to address future pandemics: Implications for the aviation and tourism sectors based on a systematic literature review (2010–2021)," Transport Policy, Elsevier, vol. 125(C), pages 107-126.
    2. Seng-Su Tsang & Zhih-Lin Liu & Thi Vinh Tran Nguyen, 2023. "Family–work conflict and work-from-home productivity: do work engagement and self-efficacy mediate?," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
    3. Frank Siedlok & Natasha Hamilton‐Hart & Hsiao‐Chen Shen, 2022. "Taiwan's COVID‐19 Response: The Interdependence of State and Private Sector Institutions," Development and Change, International Institute of Social Studies, vol. 53(1), pages 190-216, January.

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