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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

Global Economy In Better Place After Fed Cuts, Trade Progress: Raghuram Rajan

featuring Raghuram Rajanvia The Times of India
Thursday, November 7, 2019

Hopes of a trade deal between the US and China and a series of interest rate cuts by the Federal Reserve are making the world a much better place in the short term, former Reserve Bank of India (RBI) governor Raghuram Rajan said.

In the News

World Economy Doing Better After Fed Cuts, Trade Progress: Raghuram Rajan

featuring Raghuram Rajanvia Business Standard
Thursday, November 7, 2019

Hopes of a trade deal between the US and China and a series of interest rate cuts by the Federal Reserve are making the world a much better place in the short term, former Reserve Bank of India Governor Raghuram Rajan said.

Interviews

Raghuram Rajan: India Has To Clean Up Its Finance Sector ‘Fast’ To See Stronger Growth, Ex-Central Bank Chief Says

interview with Raghuram Rajanvia CNBC
Thursday, October 31, 2019
Hoover Institution fellow Raghuram Rajan says that India needs to clean up its troubled financial sector fast in order to get economic growth back on track.
In the News

Raghuram Rajan Says Stop Blaming Global Slowdown, Look Inwards For Why India’s Struggling

quoting Raghuram Rajanvia Bloomberg
Monday, October 28, 2019

Neither global economic woes nor rising oil prices are to blame for India's slowdown, according to Raghuram Rajan.

In the News

Suppressing Criticism Bad For Government: Raghuram Rajan

featuring Raghuram Rajanvia Economic Times (India)
Thursday, October 24, 2019

The government would benefit from advice of experts and therefore suppressing criticism is bad, Rajan said.

In the News

Decentralise & Invent New Growth Model: Raghuram Rajan

featuring Raghuram Rajanvia The Time of India
Thursday, October 24, 2019
Former RBI governor Raghuram Rajan and Congress’s overseas unit chief Sam Pitroda have criticized the BJP government for proposing to make a nation based on "single idea (of Hindutva) and have also called for India to move away from authoritarianism and centralized control to strengthen its democracy.
Interviews

Raghuram Rajan: Debt, Default And The IMF In Argentina

interview with Raghuram Rajanvia Bloomberg
Wednesday, October 23, 2019

(12:55) Hoover Institution fellow Raghuram Rajan discusses why the International Monetary Fund keeps lending to a troubled country like Argentina, as well as the future of the IMF.

asia
In the News

South Asia Used To Be The World’s Fastest-Growing Region. Now It’s Facing An Economic Slowdown

quoting Raghuram Rajanvia Foreign Policy
Tuesday, October 15, 2019

Weak domestic demand is hurting growth, but more investment could lead to a rebound.

In the News

Nobel Prize Winner Abhijit Banerjee A Product Of India's Educational System, Says Raghuram Rajan

featuring Raghuram Rajanvia Business Today
Tuesday, October 15, 2019

Former RBI governor Rajan in his post on LinkedIn highlighted that it is a proud moment for India as Banerjee was largely educated in the country.

Featured

Nobel Winner Abhijit Banerjee And Former RBI Chief Raghuram Rajan On India’s Economic Challenges

by Abhijit Banerjee, Raghuram Rajanvia Quartz
Monday, October 14, 2019

In October 2018, thirteen of us, all economists, got together in the hope that, as the country gears up for elections, we could start a conversation by identifying a set of policy ideas that might help inform party manifestos and policy visions. While our views stretch across the spectrum from right to left, we found surprising agreement on the challenges India faces and reforms it needs now. Two of us sifted through the set of ideas, picking what we felt were the top challenges and proposals to address them.

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