Government policies to ensure the efficient utilization of scarce resources and continuous improvement of the domestic investment environment played a crucial role in ensuring stable and lasting economic growth in Taiwan. Coping with, rather than working against, the international environment has been one of the key factors in Taiwan's economic success. As a result, the Republic of China's (ROC's) export expansion policy, together with access to the U.S. and other international markets, has significantly contributed to economic growth. Rapid economic growth inevitably brings increased international responsibilities. The establishment of the International Economic Cooperation and Development Fund (IECDF) will certainly strengthen the ROC's ability to conduct its international cooperation activities. In addition, the ROC's own economic development experience, as discussed in this paper, provides valuable lessons for other developing countries.
