Jason Jackson

Cambridge University Press · 2026

Conventional approaches cite India's leftist "socialism" and Brazil's right-wing authoritarianism to explain why India resisted foreign direct investment (FDI) while Brazil welcomed foreign firms. However, this ignores puzzling industry-level variation: India restricted FDI in auto manufacturing but allowed multinationals in oil, while Brazil welcomed foreign auto companies but prohibited FDI in oil. This book argues that FDI policies were shaped by contrasting colonial experiences that generated distinct economic nationalisms and patterns of industrialization in both countries.

Harvard University Press · 2025

Is foreign capital an agent of economic growth in developing countries or a vehicle of extraction? Examining how Indian elites wrestled with this question in the late colonial and postcolonial periods, Jackson argues that it reflects a false binary. Instead of simply choosing between domestic and foreign capital, Indian policymakers have long considered the business ethics of individual firms. Indian economic nationalism, in other words, has never been characterized by a straightforward preference for domestic over foreign capital.