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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. 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

In the News

Education Should Teach Us How To Think: Raghuram Rajan

quoting Raghuram Rajanvia The Times of India
Friday, March 29, 2019

Former governor of the Reserve Bank of India (RBI) Raghuram interacted with high school students in a webinar organized by Krea University on Friday.

Interviews

Why Isn’t Investment Picking Up With This Growth? It’s Not Adding Up: Raghuram Rajan

interview with Raghuram Rajanvia The Economic Times
Thursday, March 28, 2019

Hoover Institution fellow and former Reserve Bank of India governor Raghuram Rajan says the minimum income guarantee scheme promised by the Congress is an extension of the direct benefit transfer program, a theme that the government is also working on. Rajan also talks about economic growth, election themes, and populist nationalism.

Interviews

Raghuram Rajan On Why Minimum Income Works, And The RSS' 'Threat To India'

interview with Raghuram Rajanvia Money Control
Thursday, March 28, 2019

Hoover Institution fellow Raghuram Rajan talks about why the economic system looks broken and how to fix it.

Interviews

Raghuram Rajan On Jet Bailout: Not Necessary For Every Company To Go Through IBC

interview with Raghuram Rajanvia The Economic Times
Thursday, March 28, 2019
Hoover Institution fellow Raghuram Rajan says that the bankruptcy code should act as a shadow and should be the last resort for resolution of stressed assets.
Interviews

Raghuram Rajan: Dissonance Between GDP, Employment Numbers; Need To Restore Historical Trust In Our Data

interview with Raghuram Rajanvia Economic Times (India)
Thursday, March 28, 2019
Hoover Institution fellow Raghuram Rajan cites 'dissonance' between GDP and employment numbers and calls for an 'outsider' to look at the statistics. He says India was never questioned about the credibility of data and there is a need to restore that historical trust.
Interviews

Poverty Alleviation Schemes Should Not Be A Permanent Process: Raghuram Rajan

interview with Raghuram Rajanvia Economic Times (India)
Wednesday, March 27, 2019

Hoover Institution fellow Raghuram Rajan discusses poverty alleviation programs and notes that they should bring people back into the mainstream and not be a permanent situation. 

In the News

"Not Enough Focus On Joblessness," Raghuram Rajan Tells NDTV: Highlights

featuring Raghuram Rajanvia NDTV
Tuesday, March 26, 2019

Today even if you have a high-school degree you don't get a job. We have great jobs for people leaving premier institutions like IIMs, etc, but that is not the case for a majority of students leaving schools and colleges which are not of that level of repute.

In the News

Raghuram Rajan Raises Doubts About India Growing At 7%

featuring Raghuram Rajanvia The Wire
Tuesday, March 26, 2019

Former RBI Governor Raghuram Rajan Tuesday expressed doubts over Indian economy growing at 7% when not enough jobs were being created and said the current cloud over the GDP numbers must be cleared by appointing an impartial body to look at the data.

Interviews

Raghuram Rajan On Minimum Income Schemes, Next Generation Reforms

interview with Raghuram Rajanvia Business Today
Tuesday, March 26, 2019

Hoover Institution fellow Raghuram Rajan discusses the need to improve the capacity of the government, increase the economic growth potential, the need for next generation reforms, and the practicality of the minimum universal income.

In the News

Creating Jobs Should Be First Task For Any Government, Says Former RBI Governor Raghuram Rajan

featuring Raghuram Rajanvia Live Mint
Tuesday, March 26, 2019

Creating jobs should be the first priority for any government, former RBI Governor Raghuram Rajan said as India goes in for national elections next month.

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