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Summary In this paper we concentrate on FDI and argue that the contrasting FDI policies in Brazil and India can be traced back to differences in the respective colonial (or semi‐colonial) experiences of the two nations during the 19th century. Our comparative analysis of FDI in Brazil and India shows the importance of historical and institutional awareness in gaining an understanding of the manner in which each society perceived the role of foreign investments in their societies. By doing this, we gain an understanding of the reasons these countries adopted different attitudes and policies towards foreign capital.

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A number of studies have analyzed the determinants of financial inclusion in India, but few if any have focused specifically on the factors that shape women's access to finance. This paper draws on the trove of women‐specific data collected in the fourth round of the National Family Health Survey (NFHS‐4), conducted in 2015–16 in India, to examine the factors that influence women's access to finance. The results indicate that while the forces that shape women's access to finance function at multiple levels, micro‐level factors appear to be powerful drivers of inclusion. The analysis reveals that household‐level economic indicators like wealth, gender of household head and their rural‐urban location are crucial, but so are individual‐level characteristics which explain approximately 83% of the variation in the multilevel regressions. Informal gender norms that govern women's mobility and economic activity crucially influence the ability of women to access loans and open bank accounts.

This paper compares and contrasts Brazilian and Indian strategies of development during the era of neo-liberalism from a long period perspective. The Brazilian economy has attempted to combine the goals of redistribution and social equity with the goals of growth and productivity. India on the other hand has pursued a growth maximizing approach to development, while paying little or no attention to the larger goals of human well-being. The article seeks to understand the dynamics of economic change in the two economies and attempts to draw out the institutional and political factors that have influenced these approaches.