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Transparency International studied 100 of the fastest-growing companies based in 15 emerging markets countries.
In return for the bank's intervening in bond markets, countries are supposed to agree to a program that is not quite a troika bailout but involves oversight.
It's definitely a cultural experience – with each new client, we learn more about their markets, countries and traditions, increasing our expertise and knowledge.
The really shocking thing, however, is the way the crisis is spreading to emerging markets — countries like Russia, Korea and Brazil.
After years of emulating the flashy United States stock markets, countries around the globe are now using America as a model for what they don't want to look like.
Simply by participating in international markets, countries are exposed to other countries' techniques, and have an incentive to copy and improve on them.All this can make the relationship between trade, technology and growth quite complicated.
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This has partially helped in keeping transportation costs at a relatively low level for some markets (country 2).
That period may have made foreign investors even more skittish about perceived flaws in emerging-markets countries.
"Our database is built around quarterly reporting, which isn't available in many emerging-markets countries," Mr. Kopinski said.
That has discouraged major emerging-markets countries — like China, Brazil, India, Russia and South Africa — from coming together to offer an alternative.
Mr. Mobius says other emerging-markets countries will be in the vanguard of the revival he is counting on this year.
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