Читать книгу The Emerging Markets Handbook - Pran Tiku - Страница 67

Emerging markets have not always been regarded as easy places to start and run a business. Corruption ran rampant in many of these nations, where quotas and licences were doled out as political favours. The system was kept in place by the ruling class, protected powerbrokers, and crony capitalists. In the name of protecting local merchants from predatory capitalists, a system of perpetual inefficiency, waste and lack of innovation was created because of such little true competition.

Things are different in emerging markets today. There is a widespread realisation that in order to create jobs, avoid social unrest and raise living standards, there needs to be a free and open economy. Countries are making it easier for new entrepreneurs to start businesses, invest, innovate and compete. There is a general understanding, though not fully implemented yet, that economies need to be open for foreign investors in order to encourage competition, innovation and technology transfer.