金融改革與金融替代（1945~1960）

金融改革與進口替代：混亂中求穩定（1945-1960）

國民政府接收臺灣之後，授權臺灣銀行發行「臺幣」，不久中國大陸內戰激化，經濟不穩，引發臺灣通貨膨脹危機。1949年6月臺銀發行新臺幣，以舊臺幣4萬元折算新臺幣1元，藉此穩定幣值及匯率。為改善臺灣的租佃關係，省府於此時期公布「臺灣省私有耕地租用辦法」，開啟日後三七五減租、公地放領及耕者有其田等土地改革的措施。

1950年6月韓戰爆發，美國正式對中華民國展開軍事及經濟的援助，在美援挹注下，政府宣布先發展農業，再以農業培養工業的政策，將農業所得作為建設工業的資金。1953年推動「臺灣經濟建設四年計畫」，以提高關稅、限制進口、管制外匯、限制設廠及低利貸款等措施，扶植本土的輕工業及民生工業，有效節省外匯，成功創造就業機會。

After the takeover of Taiwan by the Nationalist government, the Taiwan Bank was authorized to issue the "Taiwan Dollar" as the official currency. However, soon after, the intensification of the Chinese Civil War and economic instability triggered an inflation crisis in Taiwan. In June 1949, the Taiwan Bank introduced the New Taiwan Dollar, with an exchange rate of 40,000 old Taiwan Dollars to 1 New Taiwan Dollar, aiming to stabilize the currency and exchange rate. During this period, in an effort to improve Taiwan's tenancy system, the provincial government announced the "Taiwan Province Private Land Lease Regulations," laying the groundwork for future land reform measures such as the 37.5% Arable Rent Reduction Act, Public Farmland Sale and Land-to-the-Tiller.

In June 1950, the Korean War broke out, and the United States officially initiated military and economic aid to the Republic of China. With the assistance of the U.S., the government announced a policy of prioritizing agricultural development and using agricultural income as funding for industrialization. In 1953, the "Four-Year Plan for Taiwan's Economic Construction" was implemented, which included measures such as raising tariffs, imposing import restrictions, controlling foreign exchange, regulating factory establishment, and providing low-interest loans. These measures aimed to support the development of local light industries and essential industries, effectively saving foreign exchange and creating employment opportunities.