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Raghuram Rajan

Senior Fellow
Biography: 

Raghuram Rajan is a senior fellow at the Hoover Institution and is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School.

Prior to that, he was the twenty-third governor of the Reserve Bank of India from 2013 to 2016, as well as the vice chairman of the board of the Bank for International Settlements from 2015 to 2016. He was the chief economist and director of research at the International Monetary Fund from 2003 to 2006. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. He coauthored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010. Rajan was the president of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences and the Group of Thirty.

In January 2003, the American Finance Association awarded him the inaugural Fischer Black Prize for the best finance researcher under the age of forty. The other awards he has received include the global Indian of the year award from NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, and Euromoney magazine’s Central Banker of the Year Award 2014.

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Recent Commentary

In the News

Raghuram Rajan: Working On Thin Files

featuring Raghuram Rajanvia Euromoney
Thursday, May 9, 2019
There was a time, not so long ago, when Raghuram Rajan was branded a Luddite by Lawrence Summers. He laughs about it now. “As an academic or a thinker, if you’re not criticized, then you’re not really doing your job,” he says. “You’re providing anodyne commentary, which everyone can go along with and which upsets no one.”
Analysis and Commentary

Why Capitalism Needs Populism

by Raghuram Rajanvia Project Syndicate
Monday, May 6, 2019

Globalization, digital technologies, and other factors have allowed competitive US corporations to achieve market dominance. If the past is any guide, it is only right that these "superstar" firms should now be challenged by grassroots political movements protesting against an unholy alliance of private-sector and government elites.

In the News

Raghuram Rajan Suggests Middle Path For Companies: Identify Four Key Stakeholders

featuring Raghuram Rajanvia Financial Express
Thursday, May 2, 2019

Once again, we’re debating the purpose of corporations. On one side, progressives such as Sen. Elizabeth Warren argue that companies — given broad rights in court decisions such as Citizens United v. Federal Election Commission — must also accept broad social responsibilities such as paying attractive wages and protecting the environment.

Featured

Firms Must Value Workers Like Shareholders, Says Raghuram Rajan

by Raghuram Rajanvia NDTV
Wednesday, May 1, 2019

Once again, we're debating the purpose of corporations. On one side, progressives such as Sen. Elizabeth Warren argue that companies - given broad rights in court decisions such as Citizens United v. Federal Election Commission - must also accept broad social responsibilities such as paying attractive wages and protecting the environment.

Interviews

Capitalism Is No Longer Providing Opportunities To Everyone: Raghuram Rajan

interview with Raghuram Rajanvia Yahoo! Finance
Friday, April 26, 2019

Hoover Institution fellow Raghuram Rajan discusses how to make capitalism work more effectively and provide opportunities for all.

Interviews

Alphachat Live! Raghuram Rajan And Ashley Putnam On Community

interview with Raghuram Rajanvia Financial Times
Thursday, April 25, 2019

Hoover Institution fellow Raghuram Rajan talks about his new book, The Third Pillar: How Markets and the State Leave Communities Behind.

In the News

Former RBI Governor Raghuram Rajan Raises Concerns About AI & Automation Taking Away Skilled Jobs

featuring Raghuram Rajanvia Analytics India Magazine
Wednesday, April 24, 2019

Rajan, who served as the 23rd RBI Governor from 2013-2016, was delivering the keynote address at 2019 ECOSOC Forum on Financing for Development at the UN Headquarters in New York, where he said that protectionism alone wouldn’t save jobs in the wake of automation and that it cannot act as a shield against imminent job losses at the hands of these emerging technologies.

In the News

Protectionism Will Not Save Jobs: Raghuram Rajan

featuring Raghuram Rajanvia Livemint.com
Wednesday, April 17, 2019

Protectionism does not really help preserve jobs and offers little defence against the job-destroying effects of automation and artificial intelligence, former Reserve Bank of India (RBI) governor Raghuram Rajan has said, asserting that industrial and developing nations cannot afford to ignore the democratic reaction from those left behind by globalisation and technological change.

Interviews

Raghuram Rajan: Global Economy Is ‘Slowing’ But Should 'Stabilize’

interview with Raghuram Rajanvia Yahoo Finance
Friday, April 12, 2019

Hoover Institution fellow Raghuram Rajan discusses the stimulus that has been injected back into the system in China, and the Fed backing off in the US, which should be enough to stabilize the global economy even though we are slowing.

In the News

Creating Jobs Is The Biggest Issue In This Election, Says Raghuram Rajan

quoting Raghuram Rajanvia Bloomberg
Thursday, April 11, 2019

Creating enough jobs for millions coming into the workforce every year continues to be the biggest challenge for India’s economic growth, former Reserve Bank of India Governor Raghuram Rajan told Bloomberg.

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