Policy Article

How Taiwan and South Korea Contained the Spread of Covid-19 and Why this Matters for Attracting FDI

Authors

  • Frank Bickenbach
  • Wan-Hsin Liu
Publication Date

Taiwan and South Korea are generally considered to be more successful than many others in containing the spread of Covid-19. Three basic and interrelated factors have led to their success so far: efficient governance, high quality of medical research and health care, and a smart use of digital technologies. In a generalized form the same capacities – an efficient governance system, high quality research and public services and highly advanced digital skills and infrastructures – are key attributes of an adaptive and resilient business and investment environment capable of dealing with the increasing systemic and idiosyncratic societal and economic challenges in a highly globalized world. The demonstration of Taiwan’s and South Korea’s competence in the Covid-19 crisis should thus help them gain an advantage in attracting more FDI in the future.

Kiel Institute Experts

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Key Words

  • Corona crisis
  • COVID19
  • FDI
  • South Korea
  • Taiwan