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Raghuram G. Rajan

Raghuram G. Rajan

Writing for PS since 2003
89 commentaries
1 videos & podcasts

Raghuram G. Rajan, a former governor of the Reserve Bank of India and chief economist of the International Monetary Fund, is Professor of Finance at the University of Chicago Booth School of Business and the co-author (with Rohit Lamba) of Breaking the Mold: India’s Untraveled Path to Prosperity (Princeton University Press, May 2024).

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  1. The Indian Election and the Country’s Economic Future
    op_rajan4_MANJUNATH KIRANAFP via Getty Images_Indiastartup Manjunath Kiran/AFP via Getty Images

    The Indian Election and the Country’s Economic Future

    May 24, 2024 Raghuram G. Rajan worries that the country will squander its massive potential by trying to emulate China's growth strategy.

  2. The Danger of Forgetting the 2023 Banking Crisis
    rajan89_Justin SullivanGetty Images_svb Justin Sullivan/Getty Images

    The Danger of Forgetting the 2023 Banking Crisis

    Feb 8, 2024 Raghuram G. Rajan & Viral V. Acharya worry that smaller banks’ troubles remain unresolved, and that the episode perpetuated moral hazard.

  3. Raghuram G. Rajan on inflation, financial risks, interest rates, and more
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    Raghuram G. Rajan on inflation, financial risks, interest rates, and more

    Jan 9, 2024 Raghuram G. Rajan says when the US Federal Reserve might start cutting rates, considers how to mitigate monetary-policy spillovers, proposes measures to boost financial stability, and more.

  4. The World Needs a Humble Approach to Central Banking
    op_frenkel1_MANDEL NGANAFP via Getty Images_fed MANDEL NGAN/AFP via Getty Images

    The World Needs a Humble Approach to Central Banking

    Dec 8, 2023 Jacob Frenkel, et al. explain why monetary policymakers must accept a deliberately narrow mandate.

  5. When More Financial Regulation Is Not Better
    rajan85_Nancy LaneMediaNews GroupBoston Herald via Getty Images_svb Nancy Lane/MediaNews Group/Boston Herald via Getty Images

    When More Financial Regulation Is Not Better

    Oct 31, 2023 Raghuram G. Rajan warns that higher capital requirements for banks become counterproductive beyond a certain point.

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  1. frankel160_ NIKOLAY DOYCHINOVAFP via Getty Images_EUpollution Nikolay Doychinov/AFP via Getty Images

    Europe’s Carbon Border Tax Advances the Fight Against Climate Change

    Jeffrey Frankel shows how the European Union’s carbon-price mechanism could encourage other countries to follow suit.
  2. moghalu4_Peter TitmusUCGUniversal Images Group via Getty Images_southafricashipping Peter Titmus/UCG/Universal Images Group via Getty Images

    Africa Can’t Prosper Without Regional Trade

    Kingsley Moghalu argues that the continent has been missing a key ingredient of robust, sustained growth.
  3. krueger75_Kent NishimuraGetty Images_israelprotest Kent Nishimura/Getty Images

    Divestment from Israel Will Not Bring Peace

    Anne O. Krueger argues that meeting protesters' demand would weaken US universities – one of America’s sources of strength.
  4. bp - trade war Photo by Costfoto/NurPhoto via Getty Images

    The US-China Trade War Heats Up

    A spate of new US tariffs on Chinese goods has raised the specter of full economic decoupling between the world’s two largest economies. For many observers, the measures are not only misguided, but also counter-productive, with the potential to undermine economic dynamism, hamper climate action, and trigger geopolitical conflict.

  5. op_rajan4_MANJUNATH KIRANAFP via Getty Images_Indiastartup Manjunath Kiran/AFP via Getty Images

    The Indian Election and the Country’s Economic Future

    Raghuram G. Rajan

    Economically, India today feels like a place of limitless possibilities. But with only a narrow window in which to grow rich before it grows old, the policy decisions it makes today will have an outsize influence on its future prospects.

    worries that the country will squander its massive potential by trying to emulate China's growth strategy.
  6. tagliapietra5_JOHN THYSAFP via Getty Images_eu green deal JOHN THYS/AFP via Getty Images

    How Europe Can Get the Green Deal Done

    Simone Tagliapietra proposes EU-level measures that would help offset the negative distributional effects of climate policy.
  7. fischer216_SERGEI BOBYLYOVPOOLAFP via Getty Images_putinxi Sergei Bobylyov/POOL/AFP via Getty Images

    Reckoning With a New Authoritarian Bloc

    Joschka Fischer considers the implications of a northern Asian alliance that exists primarily to challenge American hegemony.
  8. palacio157_ Thierry MonasseGetty Images_eu flags Thierry Monasse/Getty Images

    Is Europe Too Big for Further Enlargement?

    Ana Palacio warns that even if candidates meet accession criteria, decision-making processes would need to be reformed.
  9. subramanian41_PUNIT PARANJPEAFP via Getty Images_india solar panels PUNIT PARANJPE/AFP via Getty Images

    The Sino-American Trade War Benefits China’s Competitors

    Arvind Subramanian warns that escalating protectionism, while dangerous, could end up helping developing countries like India.

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