THE INSTITUTIONAL LOGIC OF SMALL-FIRM ECONOMICS IN ITALY AND TAIWAN

This article compares the small-firm economies of Taiwan and Italy, utilizing an institutional oganizational approach in the analysis of economic structures. It is divided into three sections. First, there is a presention of the main features of the Italian and the Taiwanese economies to draw out their distinctive similarities. The second part identifies a set of institutional factors which help us understand the similarities observed in the two economies, and classifies them along two analytical headings: individual values and social structure. The third section explores the significance of the author's crossnational comparison of small-firm economies for improving the status of an institutional theory of economic structures. By, emphasizing the role of institutional factors and the social embeddedness of economic activities in Italy and Taiwan, the article provides a corrective to the unilateral emphasis on an East versus West model of economic action and shows the obvious inadequacies of restrictively cultural, political, or economic interpretations of national economies. © 1991 Springer.