RAGHU­RAM RA­JAN IN RACE FOR ECO­NOM­ICS NO­BEL

Sunday Express - - FRONT PAGE -

Raghu­ram Ra­jan is in the list of prob­a­bles for this year’s Eco­nom­ics No­bel, The Wal­lStreetJour­nal has re­ported. The for­mer RBI Gover­nor is one of six econ­o­mists on the 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. The rea­son for Ra­jan’s en­try into the list is his “con­tri­bu­tions il­lu­mi­nat­ing the di­men­sions of de­ci­sions in cor­po­rate fi­nance”. Ra­jan shot to fame three years af­ter he pre­sented a coun­ter­in­tu­itive pa­per at an an­nual gath­er­ing of econ­o­mists and bankers in the US in 2005. He pre­dicted a fi­nan­cial cri­sis and was made fun of, but was proved right three years later when the fi­nan­cial cri­sis hit the US. The win­ner will be an­nounced on Mon­day.

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