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Raghuram Rajan

Senior Fellow

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. His latest book, The Third Pillar: How Markets and the State Leave the Community Behind, was released on February 2019 by Penguin Press. 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


Raghuram Rajan: Will We Have The Money To Tackle The Next Pandemic?

interview with Raghuram Rajanvia Chicago Booth Review
Tuesday, April 14, 2020

Hoover Institution fellow Raghuram Rajan notes that decision makers should be concerned about creating problems for tomorrow as they try to manage the problems of today.


Raghuram Rajan: How Will COVID-19 Reshape The Gig Economy?

interview with Raghuram Rajanvia Chicago Booth Review
Wednesday, April 8, 2020

Hoover Institution fellow Raghuram Rajan discusses the future implications of the crisis for gig work and the protections it may need to provide.

In the News

COVID-19: Rajan Plots Way Forward For ‘India’s Greatest Challenge’

featuring Raghuram Rajanvia The Quint
Sunday, April 5, 2020

Former RBI governor Raghuram Rajan has suggested the government call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps the greatest emergency being faced by the country since Independence following the coronavirus outbreak.

In the News

India Faces Greatest Economic Emergency Since Independence, Says Raghuram Rajan

featuring Raghuram Rajanvia Bloomberg
Sunday, April 5, 2020

Former Reserve Bank of India governor Raghuram Rajan sees the economic fallout of the coronavirus pandemic as the “greatest emergency” India has faced since independence.


Raghuram Rajan: Could COVID-19 Spell The End Of Political Populism?

interview with Raghuram Rajanvia Chicago Booth Review
Friday, April 3, 2020

Hoover Institution fellow Raghuram Rajan considers whether the COVID-19 crisis may be contributing to a decline in political populism.


Raghuram Rajan: COVID-19 Is A Global Problem That Needs A Global Solution

interview with Raghuram Rajanvia Chicago Booth Review
Thursday, April 2, 2020

Hoover Institution fellow Raghuram Rajan points out that the coronavirus is a global problem, and that solving it will require international cooperation. 

In the News

There’s Still Time To Contain The Financial Crisis, Says A Former Central Banker

featuring Raghuram Rajanvia Barrons
Friday, March 27, 2020

Raghuram Rajan, an economist who sounded a warning ahead of the 2008 financial crisis, says the U.S. isn’t in a full-blown financial crisis yet, and could avoid a repeat of what happened 12 years ago by moving decisively to contain the coronavirus and the economic fallout. Such action, however, needs to come from legislators and finance ministers, not central bankers.

In the News

Lockdown Not Enough To Contain Coronavirus In India: Raghuram Rajan

featuring Raghuram Rajanvia Business Today
Thursday, March 26, 2020
Raghuram Rajan said that the infrastructure in this country is a hindrance to the government's fight against the coronavirus, adding that all resources must be focused on tackling the pandemic.
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Surveillance: Coronavirus Response With Raghuram Rajan

interview with Raghuram Rajanvia Bloomberg
Wednesday, March 25, 2020

Hoover Institution fellow Raghuram Rajan discusses what India needs to do to combat the coronavirus crisis as the country locks down its population of 1.3 billion people. 

In the News

Temporary Shock Shouldn't Become Permanent: Raghuram Rajan On Coronavirus Impact On Economy

featuring Raghuram Rajanvia India Today
Monday, March 23, 2020

Former RBI governor Raghuram Rajan spoke exclusively to India Today News Director Rahul Kanwal about his understanding of the economic situation in a post-coronavirus world and how India can deal with the global pandemic.