Investors have ventured from home markets over decades, but often to other markets with highly developed economies, property rights and rules of law. Interest grew in markets yet to fully develop these traits as investment opportunities emerged. By the late 1980s, sufficient markets and supporting research had emerged to attract investor capital. Behind these markets were economies generally growing more rapidly than those of developed markets. While more rapid growth could lead to higher investment returns, less stable governments, more volatile currencies and inconsistent jurisprudence meant higher risks. A review of how markets have emerged may be informative for investing ahead.