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Raghuram G. Rajan receives the Deutsche Bank Prize in Financial Economics 2013

The Center for Financial Studies (CFS) awards the fifth Deutsche Bank Prize for Financial Economics. This year's award is presented to Indian economist Raghuram G. Rajan.

Raghuram G. Rajan receives Deutsche Bank Prize in Financial Economics

Prize winner Raghuram G. Rajan with Jürgen Fitschen, Co-Chairman of the Management Board, Deutsche Bank AG (right), and Michael Haliassos, Jury Chairman and CFS Director (left)

The award winner, who was recently appointed Governor of the Reserve Bank of India, is being honored for his influential work in financial economics. Jury Chairman and CFS Director Michael Haliassos summarized the view of the international jury, “Professor Rajan develops novel empirical and theoretical approaches with significant policy implications.” Raghuram G. Rajan’s work spans a broad range of areas in financial economics, including the central role of banks in creating liquidity and the role of finance in economic growth to the nature of corporations and their financing. He is one of few economists who warned the world about the financial crisis that eventually broke out in 2008.

Deutsche Bank Prize: an award for exceptional achievements in macroeconomics

The Deutsche Bank Prize in Financial Economic honors outstanding achievements in researching globally relevant questions of financial economics and macroeconomics. The academic prize, which is sponsored by the Deutsche Bank Foundation Fund with an endowment of 50,000 euros, is awarded biannually in a partnership with Goethe University Frankfurt. The prize is one of the most generously endowed in the areas of financial economics and macroeconomics in Europe.


“It would have been hard to find a more deserving winner for this year’s award. Professor Rajan's career is not only marked by path-breaking, empirically-based research, but even more important is the fact that he never shied away from the real world of complex policy issues and special interests.”

Jürgen Fitschen Co-Chairman of the Management Board, Deutsche Bank AG

Recipients of the Deutsche Bank Prize in Financial Economics 2005 to 2013

2013: Raghuram G. Rajan

2011: Kenneth Rogoff

2009: Robert Shiller

2007: Michael Woodford

2005: Eugene Fama

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