With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990's inexperienced firms from rich countries jumped directly into huge projects in some of the world's least developed countries. Their investments reflected almost unbridled enthusiasm for emerging markets and trust in new international guarantees. Yet within a few years the business pages of the world press...

When at every turn, they find a new twist, or a new requirement, foreign investors in Africa can be easily discouraged from setting up businesses. Although many African governments have liberalized and reformed investment policies and promote themselves as investment sites, the reality facing investors differs greatly. To help change the 'lack of investor response' to Africa's enticements, this book examines the administrative constraints to investment in several African countries. It presents the experience that confronts investors when they set up a company. The case histories demonstrate...