Corporate governance matters for national development. Studies of Brazil, Chile, India, and South Africa show that corporate governance has an important role to play in helping both to increase financial capital to firms in developing countries and to enhance those countries’ financial...

This paper examines the implications of the liberalization of capital outflows in China, India, Brazil, and South Africa (CIBS) for other developing countries. It focuses on their prospects of attracting not only foreign direct investment (FDI), but also portfolio capital flows from CIBS. To...