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Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund.

Dr. Rajan’s research interests are in banking, corporate finance, and economic development. The books he has written include Breaking the Mold: Reimagining India's Economic Future with Rohit Lamba,  The Third Pillar: How the State and Markets hold the Community Behind 2019 which was a finalist for the Financial Times Business Book of the Year prize and Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times prize for Business Book of the Year in 2010.

Dr. Rajan is a member of the Group of Thirty. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the Infosys prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, Euromoney Central Banker Governor of the Year 2014, and Banker Magazine (FT Group) Central Bank Governor of the Year 2016. Dr. Rajan is the Chairman of the Per Jacobsson Foundation, the senior economic advisor to BDT Capital, and a managing director at Andersen Tax.

Recent publications include “Sovereign Debt and Economic Growth when Government is Myopic and Self-interested” with Viral Acharya and Jack Shim, forthcoming, Journal of International Economics, “Liquidity, liquidity everywhere, not a drop to use: Why flooding banks with central bank reserves may not expand liquidity”, with Viral Acharya, forthcoming, Journal of Finance,  “The Decline of Secured Debt”, with Efraim Benmelech and Nitish Kumar,  Journal of Finance Jan 2024; “Secured Credit Spreads”, with Efraim Benmelech and Nitish Kumar,  Journal of Financial Economics, Oct 2022; “The Relationship Dilemma: Organizational Culture and the Adoption of New Technology in Indian Banking”, with Prachi Mishra and R. Prabhala, Review of Financial Studies, June 2022; “Going the Extra Mile: Distant Lending and Credit Cycles”, with Joao Granja and Christian Leuz, Journal of Finance, Apr 2022.


Research Interests

Corporate finance; theory of organizations; financial intermediation and regulation.

Academic Areas

  • Finance

Selected Publications

Working Papers

2023 - 2024 Course Schedule

Number Course Title Quarter
34906 Corporate Finance III 2024 (Spring)
35210 International Corporate Finance 2023 (Autumn)

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