Nobel prizes

Raghuram Rajan features in Clarivate list of possible winners of Nobel Prize in Economics

Clarivate Analytics brings out a list of probable recipients of the award based on research citations.

Former Reserve Bank of India Governor Raghuram Rajan features in a list of probable winners of the Nobel Prize in Economics 2017, The Wall Street Journal reported.

The list was brought out by Clarivate Analytics, a company that does academic and scientific research and maintains a list of dozens of possible Nobel Prize winners based on research citations.

Rajan is one of the six economists to make their way to the list this year. He is considered a candidate for his “contributions illuminating the dimensions of decisions in corporate finance”, Clarivate said.

The winner of the Nobel Prize in Economics will be announced on October 9.

Rajan’s three-year term as RBI governor ended on September 4, 2016. He is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago.

At 40, he was the youngest to become the chief economist at the International Monetary Fund. Rajan shot to fame three years after he presented a paper at an annual gathering of economists and bankers in the US in 2005, in which he predicted a financial crisis. He was not taken seriously at the time, but was proved right three years later when the financial crisis hit the US.

Differences with Indian government

Rajan had expected to get a second term as RBI governor, but was not offered an extension. He later revealed that he had differences with the government over several matters, including demonetisation, which he has criticised fiercely.

Demonetisation has hit the nation’s poor the hardest, Rajan said in September. He said he was not party to the Bharatiya Janata Party-led Union government’s controversial decision.

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