RAGHURAM RAJAN IN RACE FOR ECONOMICS NOBEL
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.