Economy

Raghuram Rajan may get Nobel prize for economics

Raghuram Rajan may get Nobel prize for economics”

Giving the list of six possible candidates for the economics Nobel, Clarivate said these were Citation Laureates - standouts whose research is clearly "of Nobel Class" according to its significance and utility, as attested by markedly high citation tallies recorded in the Web of Science. Clarivate Analytics, involved in academic and scientific research, publishes the list of possible Nobel Prize contenders based on their research citations.

Mumbai: While all eyes are on the announcement of the Nobel Prize Winner in Economics, Indians have a reason to rejoice as former RBI governor Raghuram Rajan features on the list of probable winners.

Raghuram Rajan first shot to fame in 2008, three years after he first presented his counter-intuitive paper titled "Has Financial Development Made the World Riskier" at Jackson Hole, Wyoming. However, having a name on this list does not mean that Rajan is the frontrunner for the award, but he is one of the potential contenders to win it.

He was appointed RBI Governor by the previous UPA government in 2013 and although he wanted a second term he was not offered an extension, which most of his predecessors got, by the current NDA regime.

Rajan, who is now a professor at the University of Chicago, has also been vocal about social issues like beef ban and rising intolerance in the society. In his book, he said that he had cautioned the government that short-term costs of the note ban would outweigh its long-term benefits. The world economy, including the U.S., was hit by the economic recession. His name is included in potential claimants this year's award.

Clarivate's website says that in last 15 years, 45 of the Clarivate's selected researchers have been selected for the Nobel Prize in Economics.

The 2017 Nobel Prize in Economics would be announced on Monday, October 9, in Stockholm. Nine of them received the prize in the same year they were listed in and 18 within two years of the distinction.



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