Brazil is the most investor-friendly emerging market country, in terms of data transparency and investor communications, while China and Russia are among the countries at the bottom of the list, according to the leading association of international financial firms.

The Institute for International Finance, in a report released yesterday, said that Brazil, the Philippines, Mexico, Turkey, Chile and Korea scored highest in its assessment of 20 measures of data transparency and investor communications, developed by the IIF in collaboration with financial firms and sovereign borrowers.