Higher Education Theory Of China's Taiwan Region The Economic Effect Of Supernormal Development

Over the past half a century, Taiwan has promoted from a small place due to thelack of resources to an economic take-off country by performing the education andeconomic development plans which functioned as the twin-engine for promotion ofeconomy. Until the1980s, Taiwan’s economic strength tied out of the four Asiandragons and reached the pinnacle of development. Since the1990s, under the fiercecompetition in the global trade, Taiwan continues to accumulate nurture humancapital, and that stands out well in the semiconductor and electronics industry. Thetwenty-first century is the era of knowledge economy, Taiwan copies the successfulexperience in education and talent cultivation of the past. Taiwan graduallyimplements the higher education extraordinary development policy in order toupgrade the human capital in Tauiwan, and hope to play their own role in the era ofglobalization. More than a decade of extraordinary development policy of highereducation, Taiwan’s economy has not been improved as planed. There are manyserious issues in Taiwan, including the government debt, fiscal deterioration, therelocation of industry, high ratio of the bad debt in financial system, increasedunemployed population, and the tumult of the fourth nuclear power plant issues.These make the economy situations in Taiwan even worse, and this is the currentstatus of Taiwan’s economic.In this study, we analyze the impacts of higher education in Taiwan extraordinarydevelopment policy that has been performed for more than a decade on thedevelopment of Taiwan’s economy. Firstly, the background of the previous successwas described by tracing the historical data of Taiwan’s economic and educationaldevelopment. Secondly, Taiwan’s investment in education and human capital werestudied by reviewing the information form DGBAS and related units, and then weinvestigated the levels of education salary compensation by the microeconomic,variables empirical, and the macroeconomic practices. Finally, we attempted tosummarize the real situation and the difficulties or challenges when the extraordinarydevelopment policies were implemented in the higher education in Taiwan.This study found that because the implementation of the higher educationextraordinary development policy in Taiwan, people with higher education awardhigher salary, and this finding is in agreement with the human capital theory. But thesalary for students graduated from universities has been getting worse, reflecting thatthe over-education, educational unemployment, and low manpower utilization are thecurrent situations in Taiwan. Based on these studies, we provide a review of Taiwan’seconomic and educational development and a way to learn from the development ofhigher education in other countries. On the basis of the development of technical and vocational education, deepen higher education, globalization and educationalexchanges, we make suggestions for the government and provide results of thesestudies as the references to government for exploring the manpower utilization andeducation planning policy.