Why Liberal Democracy is necessary for Indian Development

Raghuram Rajan

Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School. He was the Governor of the Reserve Bank of India between 2013 and 2016, Vice-Chairman of the Board of the Bank for International Settlements (2015-16) and Chief Economist at the International Monetary Fund (2003-2006).

Dr. Rajan’s research interests are in banking, corporate finance, and economic development. His book Fault Lines won the Financial Times prize for best business book in 2010 and his most recent book, The Third Pillar: How Markets and the State hold the Community Behind, was a finalist for the award in 2019.
Dr. Rajan was the President of the American Finance Association (AFA) and is a member of the American Academy of Arts and Sciences. He received the AFA’s inaugural Fischer Black Prize in 2003, the Deutsche Bank Prize for financial economics in 2013, Euromoney magazine’s Central Banker of the Year award in 2014, and The Banker magazine’s Global Central Banker award in 2016. In that year, Time magazine chose Dr. Rajan as one of the 100 most influential people in the world.

Rajan is Chairman of CDPQ’s Global Advisory Council, Senior Economic Advisor to BDT Capital, member of the Economic Advisory Panel, Federal Reserve Bank of New York and of the IMF Managing Director’s External Advisory Group.

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