Prior to resuming teaching in 2007, Dr. Rajan was the Economic Counselor and Director of Research (in plain English, the Chief Economist) at the International Monetary Fund (from 2003). Since then, he has chaired the Indian government’s Committee on Financial Sector Reforms, which submitted its report in September 2008.
Dr. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. His papers have been published in all the top economics and finance journals, and he has served on the editorial boards of the American Economic Review and the Journal of Finance. His recent book, Fault Lines: How Hidden Fractures Still Threaten the World Economy, won the Financial Times Business Book of the Year award in 2010. He also has an earlier book co-authored with Luigi Zingales entitled Saving Capitalism from the Capitalists.
Dr. Rajan is a senior advisor to BDT Capital, Booz and Co, and is on the international advisory board of Bank Itau-Unibanco. He is a director of the Chicago Council on Global Affairs and on the Comptroller General of the United State’s Advisory Council as well as on an advisory council to the FDIC on bank resolution. Dr. Rajan 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, given every two years to the financial economist under age 40 who has made the most significant contribution to the theory and practice of finance.