台灣與新加坡雖然一直被學者認為是發展國家的典型案例，然而兩者在 1990 年代之後卻邁向截然不同的轉型途徑；展現在國家介入市場的特徵上也 大異其趣。雖然有關兩個發展國家的現況已有許多個別研究，然而透過比較 的視角以探討兩地公私部門間的網絡鑲嵌結構的差異，在目前的研究文獻中 仍然鮮少。本文透過制度論的分析架構，聚焦在兩者的政府介入企業層次的 治理網絡，考察其結構的形成歷史與演變軌跡，透過量化的資料比較其異 同，並探討兩種不同網絡結構可能會有的政經意涵。1990 年代以後的新加坡 政府整合強大的國家資源，透過跨國投資與仲介企業合作為手段的強勢擴張 型網絡，積極地帶領本地企業擴張；相較之下，台灣則逐漸轉型為受民間企 業力量左右並被分裂的選舉與利益團體力量所困的被動網絡形態。這兩種途 徑的演變各有其不同的歷史經驗與制度脈絡，也構成兩地未來發展路途上不 同的挑戰。

Although Taiwan and Singapore have been considered as two successful cases of the developmental state model, their recent transformations demonstrate distinct and divergent paths. Recent studies have documented this transition from a macro perspective of the political-economic process, yet scholars have been relatively inattentive to the market governance network from a meso-organizational perspective. We believe that it will help us better understand the transforming nature of two developmental states by looking at the network interface between public and private sectors and see how it serves as a critical mechanism for state power to control and govern the market. In this study we look into the difference of two markets in the embeddedness structure between state agencies and private sectors, laying out their respective institutional logics, examining the networking patterns between state-owned and private businesses, and discussing implications to the issues of state-business relationship and corporate governance.