Frank S. T. Hsiao, professor emeritus of economics, Department of Economics, University of Colorado at Boulder, USA, is associate editor of the Journal of Asian Economics. He has published extensively on growth models, production functions, Asian economic development and computer-assisted teaching in leading professional journals, and is the author of Economic and Business Analysis: Quantitative Methods Using Spreadsheets (2011).Mei-Chu Wang Hsiao, professor emerita of economics, Department of Economics, University of Colorado at Denver, USA, has published many articles on econometric analysis of Asian economies. She is the coauthor (along with Frank S. T. Hsiao) of Economic Development of Taiwan: Early Experiences and the Pacific Trade Triangle (2015).

"Apart from being a sincere and rigorous descriptive analysis of the economic development paths of Korea and Taiwan, the book’s exploratory findings offer a number of revealing insights. These often extend beyond the domain of empirical economics and resonate on the socio-political characters of both countries". —The University of British Columbia

• Introduction; Part I: Studies of Emerging East Asian Economies – Taiwan and Korea; 1. Some Development Indicators of Taiwan – A Comparative Study of East Asia in the Early Postwar Period; 2. Capital Flows and Exchange Rates during the Asian Financial Crisis – Recent Korean and Taiwanese Experiences and Challenges; 3. Productivity Growth in Newly Developed Countries – The Case of Korea and Taiwan (with Changsuh Park); 4. Korean and Taiwanese Productivity Performance – Comparisons at Matched Manufacturing Levels (with Changsuh Park); 5. Colonialism, Learning and Convergence – A Comparison of India and Taiwan. Part II Catching Up and Convergence in East Asian Economic Growth; 6. Miracle or Myth of Asian NICs’ Growth – The Irony of Numbers; 7. “Miracle Growth” in the Twentieth Century – International Comparisons of East Asian Development; 8. Catching Up and Convergence – On the Long-run Growth in East Asia; 9. Epilogue – From Emerging East Asia to an Asia-Centered World Economy. Index.