The growth of China and India’s financial sectors is hard to ignore. This column presents a new dataset on domestic and international capital raising activity and performance of the publicly listed firms in China and India. The data suggest that expanding capital markets might tend to directly benefit the largest firms – those able to reach some minimum threshold size for issuance. More widespread direct and indirect effects are more difficult to elucidate.

The global economy was once dominated by north-north relations, with some limited concern for north-south relations. This column argues that south-south economic relations now matter and explains what new ‘look east’ policies that are being implemented in south Asia mean for the global south and the global economy.

Although its economic development has been impressive, recent events have sparked debate about India’s gender inequality. This column argues that Indian women’s levels of entrepreneurship and participation in the labour force are some of the lowest in the world. India’s economic growth and shared prosperity depends upon successfully utilising both its male and female workforce, and improving this balance is an important step towards sharing the benefits of India’s growth. Economically and socially, gender equality should be a no-brainer for policymakers.

Investment in transport plays an important role in a country’s economic development. This column assesses Indian industries that are moving out of the congested big cities in search of cheaper land and buildings, facilitated by major highways. The Golden Quadrilateral highway project -- a huge, country-wide highway building project connecting four major Indian cities -- significantly influences the success of industries’ exodus from the big cities. It is clear that although highway investments are expensive, the costs of not investing may be too high.

Can we agree that capital controls are an effective tool for macroeconomic policy? If so, should they be permanent or temporary? This column argues that under a permanent system of capital controls, a country will always bear costs whether there is a surge or capital flight or not. Looking at the Indian experience, it’s clear that capital controls do not necessarily help a government meet its macroeconomic goals in times of need.

Optimism over India’s economy is fading. This column argues that India’s current economic slowdown reflects both cyclical and structural factors. It outlines the steps needed to get India back on course to reaching its growth potential.

Droughts in the US, India, and the Sahel are making headlines, with the farmers themselves often the first to lose out. This column presents findings from a randomised control trial exploring whether providing households with training and capital to diversify their incomes can cushion the shock of severe weather.

India’s cities are growing at a growing rate – despite the slowdown in the pace of industrialisation. But beneath the overall trend, many companies are moving out of the city. This column looks at data on manufacturing firms and finds that while those in the formal sector are leaving the city, those in the informal sector are moving in.

Affirmative action policies in India, which give preferential treatment to historically disadvantaged minority groups, are extremely controversial. Do they correct one injustice by creating another? This column looks at the effects of ‘political reservation’ – quotas for representatives from certain ethnic backgrounds. It finds that the effects depend on the group being given preferential treatment.

With little end in sight for the Doha Round of trade talks, this column argues that China and India are only going to pursue more free trade agreements. It asks what can be done to make sure these agreements lead to deeper integration between these countries and the rest of the world.