A few decades ago, developing countries were either one-party socialist states, absolute monarchies, or military juntas, and so were not privy to the planned chaos of elections. But with the spread of democracy, these countries now regularly enjoy the drama and disruption of voting. Multinational corporations (MNCs) not only watch these elections closely, but also plan their foreign investments according to the elections’ projected outcomes, finds Paul Vaaler, a professor of international...

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