Economic Development

The sovereignty premium countries pay for financial autonomy

The sovereignty premium countries pay for financial autonomy

By Udaibir Das

In a climate emergency, redundancy might be precisely what resilience requires. The sovereignty premium is that insurance price. Whether it’s worth paying depends on how much autonomy matters versus efficiency – and whether choice exists at all.

Two months from COP30, climate commitments are falling short

Two months from COP30, climate commitments are falling short

By Anit Mukherjee

With only two months left for the start of the leaders’ summit in Belém, the future of climate action seems to be based more on hope than conviction. A positive outcome from COP30 will require stronger commitment from the global community than what we have seen until now.

Why macrofinancial surveillance fails when it matters most

Why macrofinancial surveillance fails when it matters most

By Udaibir Das

Financial surveillance fails when it matters most. Every major financial disruption – from the 1997 Asian crisis to the 2008 financial crisis or recent geopolitical shocks from wars, sanctions and trade realignments – has exposed how blind spots persist in national systems, regional arrangements and global oversight.

The impossible choice: tariffs, sanctions and fragmentation

The impossible choice: tariffs, sanctions and fragmentation

By Udaibir Das

In dynamic-system terms, the global economy has shifted from a high-integration equilibrium towards a more fragmented state, but the transition path is still in motion. For financial institutions, the challenge is calibrating marginal gain in resilience against the marginal erosion of competitive advantage.

Bridging the AI Divide: A BRICS Strategy for Inclusive Innovation, Sovereignty, and Capacity Building

Bridging the AI Divide: A BRICS Strategy for Inclusive Innovation, Sovereignty, and Capacity Building

By Anit Mukherjee

As artificial intelligence (AI) becomes a key enabler of economic and social transformation, the BRICS grouping — comprising both emerging and influential economies — has a unique opportunity to shape the trajectory of AI development through a Global South lens.

The arc of ascent of China’s financial system

The arc of ascent of China’s financial system

By Udaibir Das

China must build on its institutional progress and the policy suggestions noted in the 2025 FSSA while adapting to a more fragmented global financial landscape. The shift from insulation, as pointed out by the IMF in 2010, as well as the shift to sensible integration, as outlined by the IMF in 2025, stays unfinished.

Capital crunch stifles entrepreneurs in low-income economies

Capital crunch stifles entrepreneurs in low-income economies

By Udaibir Das

As concessional finance declines, vulnerabilities mount and aid priorities shift, vulnerable low-income countries must increasingly rely on domestic sources of funding. Efficient capital markets are not a luxury – they are foundational infrastructure for economic growth.

2025 could be the tipping point for India’s economic aspirations

2025 could be the tipping point for India’s economic aspirations

By Udaibir Das

The world’s most populous democracy faces a turbulent landscape of geopolitical rivalries, technological shifts and the urgency of climate action. The question remains: will global economic forces propel India toward leadership or will they impede its ascent?

India must seize the opportunities in Latin America

India must seize the opportunities in Latin America

By Anit Mukherjee

With the Indian prime minister’s and external affairs minister’s recent visits to Latin America, the engagements are a sign of India’s deepening commitment to improve and strengthen strategic and economic ties with the region where it is still playing catch up to China.

Rebalancing Globalization: Perspectives from the Global South

Rebalancing Globalization: Perspectives from the Global South

"Rebalancing Globalization: Perspectives from the Global South" attempts to provide a framework for the next phase of globalization that is rebalanced and sustainable and can address issues that matter to the Global South. 

Edited Volume

By Anit Mukherjee, Dhruva Jaishankar, Alan Gelb, Pamla Gopaul, Marta Bengoa, Shayak Sengupta, Aude Darnal, Elizabeth Sidiropoulos, Udaibir Das, Veronica Jijon, and Lorrayne Porciuncula

Editors: Anit Mukherjee and Dhruva Jaishankar