New Delhi: The International Monetary Fund (IMF) has appointed Dr Raghuram Rajan, professor of global finance at University of Chicago, has its new chief economist.

An electrical engineering graduate from the Indian Institute of Technology, Delhi, Rajan did his masters in business administration from the Indian Institute of Management, Ahmedabad, followed by a PhD at the Massachusetts Institute of Technology in 1991.

He began his a stint in Tata Finance (as an administrative services officer) in 1987. Later he held faculty positions as visiting professor of banking and finance at the Stockholm School of Economics (1996-97), visiting professor, Northwestern University (1996-97) and Fischer Black visiting professor, MIT (2000-01).

At present, Rajan is a Joseph L Gidwitz professor of finance at University of Chicago Graduate School of Business. He is also a director of the American Finance Association, an associate editor of The American Economic Review and a programme director for corporate finance at the National Bureau of Economic Research.

Rajan's specialisation is mainly in corporate finance, theory of organisations, financial intermediation and regulation, areas in which he has published extensively.

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