A world in which 'frugal capital' reigns. Directors & Boards | January 1, 1993| | COPYRIGHT 1993 Directors and Boards. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright

With capital scarce and demands limitless, the main untapped source of financing for the developing countries is the risk-taking equity investor.

Consider the following opportunities and challenges confronting the global capital markets. The United States needs capital to finance economic recovery and rebuild aging infrastructure. The other major industrial countries, especially a newly unified Germany and a financially chastened Japan, face considerable public and private investment requirements of their own that will generate a formidable demand for capital. Many ...

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