Enterprise Capital in Emerging Markets
By Roy C. Smith
This article appeared in the Summer 2007 issue of The Independent Review


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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