Foreign direct investment (FDI) in emerging-market economies has tripled since 2001, and wherever it has gone, it has spurred economic growth. As the cases of the formerly socialist economies of Russia, China, and India show, FDI or enterprise capital now appears to be far more effective in generating growth in developing countries than foreign aid, loans from multinational development agencies, or national economic-development efforts.
|Other Independent Review articles by Roy C. Smith|
|Spring 2016||Understanding a Cuban Transition|
|Summer 2013||The Agony of the Euro|
|Summer 2011||The Dilemma of Bailouts|
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