By analysing investment flows and examining the role of foreign direct investment in key industries, this book examines why Southern Africa has not become a magnet for FDI and what it needs to do to attract more investment.

The emergence of a "second wave" of developing-country multinational enterprises (MNEs) in a variety of industries is one of the characterizing features of globalization. This paper documents how emerging markets' MNEs (EM-MNEs) may follow quite different patterns to reach, or at least approach,...