Exceptionally buoyant external conditions for LDC exports — in the form of the global commodity boom, strong external demand and ample external financing - did result in higher GDP growth in the 2000s. That, in turn, led to some increased investment, including, and in some cases mainly, by foreign firms. The investment ratio of LDCs (i.e., gross fixed capital formation as a share of GDP) rose from 18.5 per cent to 21.8 per cent between 2000-2001 and 2010-20112 — the highest level in over 40 years. First, the increase in the LDCs’ investment ratio still falls short of the level typically required for developing countries to sustain high growth rates over long periods.