The developing world is getting serious attention from Western investors, with nations such as Peru and Ghana proving unexpectedly stable and prosperous. Self-styled "frontier investor" James Harmon says foreign investments have given developing-world entrepreneurs the capital injection they needed to make their companies seriously profitable. "There's been a tipping point where you realized you could make more as a shareholder than by stealing from a firm," he explains. "That genie is out of the bottle, and it's never going back in."

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