According to the passage, what has made America’s system of higher education a great success?

The decentralization, diversity, academic freedom and shared governance that have evolved over the past two centuries have made America’s system of higher education one of the most accessible and democratic in the world. Today educators from around the globe are turning to U.S. institutions of higher learning for inspiration.

Recent years have seen a dramatic shift in the composition of capital flow to emerging market economies. In light of the evidence on the advantages of different kinds of capital, the change looks like one for the better. Bank lending has fallen sharply. Portfolio investment has gone up and foreign direct investment has soared despite the difficulties in expanding it as quickly as many countries would wish.