Raghuram Rajan was among the few economists who foresaw the 2008 economic crisis, three years ahead in 2005.

Raghuram Rajan among probables for economics Nobel for work on corporate finance WSJFile photo: PTI
news News Sunday, October 08, 2017 - 07:46

Former RBI Governor Raghuram Rajan, who left the central bank amidst differences with the Modi government, is reported to be in the list of probables for the Nobel Prize for Economics, reports PTI quoting the Wall Street Journal. 

The Nobel Prize for Economics is expected to be announced on Monday

Rajan is among six economists in a list compiled by Clarivate Analytics, a company that does academic and scientific research and maintains a list of possible Nobel Prize winners based on research citations. His name in the list however does not make him a front-runner, the report clarified. 

Rajan is being is being considered as a candidate for his "contributions illuminating the dimensions of decisions in corporate finance”.

“According to Clarivate Analytics, the list of possible Nobel Prize winners based on research citations include Colin Camerer of the California Institute of Technology and George Loewenstein of Carnegie Mellon University (for pioneering research in behavioural economics and in neuroeconomics); Robert Hall of Stanford University (for his analysis of worker productivity and studies of recessions and unemployment); and Michael Jensen of Harvard, Stewart Myers of MIT and Raghuram Rajan of the University of Chicago (for their contributions illuminating the dimensions of decisions in corporate finance),” PTI reported.

Raghuram Rajan was among the few economists who foresaw the 2008 economic crisis, three years ahead in 2005. He was also the first non-Western and youngest Chief Economist of the International Monetary Fund at the age of 40. Presently a professor of finance at the University of Chicago, he was appointed by the UPA government as the RBI Governor in 2013, and did not seek an extension and left the banking regulator in 2016. 

 

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