對於民國百年的回顧，如果只是看在大陸的前四十年、或在台灣的威權時期，或是最後二十年的民主化與民主鞏固，都不能窺見這百年的全貌。本文試圖以中華民國百年發展的眼光，統觀民國第一個世紀的三個時期，並提供一個理論的系絡，點出發展與轉型的機制，以宏觀地掌握歷史的脈動。觀察的對象有三個：孫中山的主張、中華民國的實踐，與中國大陸在1949年以後的發展。這三個對象，在不同的時期當中，一共產生了七個不同的觀察點，座落在由國家的政治支配力和國家的經濟支配力為兩軸所構成的平面圖上。不同的國家政治支配力產生了自由民主、現代化威權，和極權主義等三種體制；而不同的國家經濟支配力則產生了市場資本主義、國家資本主義，與國家社會主義等三種產權結構和經濟體制。政治和經濟體制的搭配產生了九種政經制度組合，提供了現代中國發展七個觀察點的定位指標。國家政經支配力相稱的體制較為穩定，其次是政高經低的體制，而最難以出現與維持的是政低經高的體制。孫中山的思想是由民主國家資本主義轉移到威權國家資本主義（但最終理想點未變）；中華民國是由有限的威權國家資本主義（大陸時期）轉化到完全的威權國家資本主義（民主化前的台灣），再轉型到民主市場資本主義（民主化後的台灣）；而中國大陸在1949年之後則是由極權國家社會主義（毛澤東時期）逐漸轉型到後極權的國家資本主義（後毛、後天安門時期）。由於政高經低，當今中國大陸的後極權國家資本主義有相當的制度韌性，已經成功地度過了多次政經危機。在孫中山的後期思想、中華民國的第二階段（威權台灣），和大陸的後天安門時期之間出現了制度趨同的現象，也就是中國大陸已經走入了台灣的過去。至於未來兩岸之間是否會出現進一步的制度趨同，則繫於中國大陸國力發展和制度變遷之間的相對速度。

It would do no justice to a review of the Republic of China's (ROC) centennial development if a focus were cast exclusively on the ROC's early period on the Chinese mainland, the authoritarian era in Taiwan, or the two decades after democratization. This article attempts to provide a broad overview of the century of the Republic by putting the ROC's three developmental stages in a theoretical framework, pointing out the mechanisms of transitions, and capturing the grand trends in historical development. We observe three subjects: Sun Yat-sen's thoughts, the practice of the ROC, and the post-1949 development on mainland China. These three produce seven observation points on a two-dimensional map laid out by the axes of state political control and state economic control. Three political systems are identified on the political axis: liberal democracy, modernizing authoritarianism, and totalitarianism, as well as three property rights structures/economic systems on the economic axis: market capitalism, state capitalism, and state socialism, based on different levels of political and economic control by the state. This gives rise to nine institutional combinations against which the seven observation points can be located. When state political control matches economic control, the institutional combination is most stable. This is followed by high political control cum low economic control. The least sustainable combination is when low political control is paired with high economic control. On the institutional map, Sun Yet-sen's thoughts migrated from democratic state capitalism to authoritarian state capitalism, with the ultimate ideal point remaining unchanged. The ROC shifted from a limited form of authoritarian state capitalism (while on the mainland) to full authoritarian state capitalism (prior to democratization in Taiwan), and finally to democratic market capitalism (after democratization in Taiwan). The PRC transitioned from totalitarian state socialism under Mao Zedong to post-totalitarian state capitalism during the post-Mao, and particularly the post-Tiananmen period. Because high political control is paired with low economic control, this system demonstrated considerable institutional resilience, capable of overcoming the challenge posed by a series of politico-economic crises. Institutional isomorphism is found in Sun Yat-sen's later thoughts, the ROC's authoritarian stage, and contemporary China. The mainland has moved into Taiwan's institutional past. The prospects for further institutional convergence between the two sides of the Taiwan Strait will be determined by the relative rate of the rise of national capability compared with institutional change on the mainland.