Dr. Subir V. Gokarn [1959-2019]
A noted economist, late Subir Gokarn was born in Mumbai on October 3, 1959, the only child of Nirmala and Vasant Gokarn. After completing undergraduate studies at the University of Bombay and a Master’s degree at the Delhi School of Economics, Subir did his PhD in Economics at Case Western Reserve University, Ohio, USA. His professional career covered appointments at IGIDR Mumbai (Associate Professor; 1991-2000), NCAER Delhi (Chief Economist; 2000-2002), Standard and Poor’s (Chief Economist, Asia and Pacific; 2002-2009), Reserve Bank of India (Deputy Governor; 2009-2012), Brookings India (Director of Research; 2012-2015) and the International Monetary Fund (Executive Director; 2015-2019). During 1997-98, he was a Fulbright Fellow at the Economic Growth Centre, Yale University. He was a prolific columnist for the Business Standard newspaper in India and a frequent commentator on television. His ability to work effectively across academia, government and business demonstrated his abiding interest in applying economics to the real world.
Dr Gokarn’s career research interests have primarily been in the reforms process and its interrelationship with economic performance. He has addressed these issues from a variety of perspectives – cross-country comparisons, with particular focus on East Asia, and at macroeconomic, sector and industry levels in the Indian context. His research has resulted in a number of academic and media publications, including two co-authored books on the performance of the East Asian economies, and a co-edited book on the structure of Indian industry.
He passed away in Bethesda, Maryland, USA on July 30, 2019. He is survived by his wife Jyotsna Bapat and daughter Kanak Gokarn.
The three tabs below capture Dr Gokarn’s selected media writings, academic publications at IGIDR and research guidance at IGIDR.
All the media writings (op-eds) presented in this section were published by Dr. Subir V. Gokarn in the Business Standard between 2004 and 2017. All rights to the original document are reserved by the Business Standard. The op-eds are reproduced here and annotated for educational purposes only."
Introduction to Dr Gokarn’s Media Writings
This section provides access to nearly 100 selected opinion pieces (op-eds) of late Dr. Subir V Gokarn that were originally published over the period 2004-2017 in the Business Standard newspaper, along with their respective abstracts written specifically for this initiative. The articles have been organized under 13 categories such as Central Bank Policies; Financial Economics; International Economics; Macroeconomics and Business Cycles; Public Finance and Policy etc. The articles’ classifications as well as their abstracts are designed to make it easy for the readers to navigate through this collection and quickly find the op-eds of their interest. Subir Gokarn taught at IGIDR for several years and therefore, it is fitting that this institution is hosting this collection.
Op-eds on this site were originally written for the readers of the Business Standard, who may not necessarily have had any formal training in economics. However, on a careful reading, students of economics will find that the discussion and the arguments in these op-eds rest on solid theoretical ground. Almost every piece has a cogent economic framework underpinning the opinions being advanced. Although these op-eds were written a while ago they are not just of historical relevance but can contribute to a better understanding of today’s economic issues and development challenges. Furthermore, despite their analytical rigor they are written in an easy to understand style.
The art of rhetoric, i.e. the ability to enrich a debate and influence the audience, should be an important element in the toolkit of economic studentship. Thus, the writing of brief persuasive essays well- grounded in economic theory should be part of the training for future professional economists. However, in most universities, rhetoric is not part of formal economic curriculum, leaving a gap that students are typically expected to fill themselves through experience. This collection of Dr. Gokarn’s op-eds has been selected with the objective to address this gap. These op-eds should help develop skills to analyze recent economic developments, create frameworks appropriate for such analyses and communicate the findings effectively. Being richly imbued with brevity, clarity and persuasiveness, these op-eds are a valuable resource for students, especially those in the early stages of their intellectual development.
The Team
The curation of the op-eds and the preparation of their respective abstracts were done by four of Dr Gokarn’s friends and Delhi School of Economics classmates: Nalin Kishor, Nirmal Mohanty, Narendra Singh and Probir Roy together with Jyotsna Bapat. Mousumi Ganguly provided editorial support. TN Ninan and AK Bhattacharya of Business Standard supported this initiative since its inception. From the very start of the project, S. Mahendra Dev, Director, IGIDR provided institutional support while Jayati Sarkar, Subrata Sarkar and A. Ganesh Kumar (faculty members, IGIDR) advised and coordinated the project. Lingaraj Panda (Head of IT, IGIDR) managed the technical aspects of design and construction of the web pages.
- Oct 04, 2015 Matters of valuation
- Aug 24, 2014 Strategy and structure
- Aug 10, 2014 The SLR barrier
- Jun 15, 2014 A potential jobs breakthrough
- Apr 21, 2013 Pathways to obsolescence
- Oct 19, 2009 The value of organization
- Aug 10, 2009 Differentiated recovery
- May 10, 2004 Mystery of the missing FMCGs
- Jun 14, 2015 The crumple zone
- Aug 10, 2014 The SLR barrier
- Jul 27, 2014 Explaining expectations
- Jul 13, 2014 Demanding to be included
- Jan 26, 2014 The monetary-fiscal battleground
- Jan 12, 2014 BHAG inclusion BHAG
- Mar 24, 2013 Capital flow conundrums
- Oct 05, 2009 The Pittsburg principles
- Sep 21, 2009 The search for global confluence
- Sep 07, 2009 Smoothening the exit
- Aug 24, 2009 Beyond the crisis
- Jul 27, 2009 The interest rate pendulum
- Feb 09, 2009 The housing imperative
- May 19, 2008 Food fright
- May 05, 2008 Financing the future-II
- Apr 21, 2008 Financing the future-I
- Apr 07, 2008 Merits of the status quo
- Jan 28, 2008 Case for a cut
- Oct 22, 2007 Hold, hack or hike?
- Jul 03, 2006 Tomato pickle
- Oct 04, 2015 Matters of valuation
- Sep 20, 2015 Shaping the Asian financial architecture
- Apr 19, 2015 Who is afraid of capital convertibility?
- Nov 16, 2014 Can our banks finance the economic recovery?
- Sep 21, 2014 Global silver linings
- Sep 07, 2014 The inclusion triangle
- Aug 10, 2014 The SLR barrier
- Jul 13, 2014 Demanding to be included
- Jan 12, 2014 BHAG inclusion BHAG
- Nov 02, 2009 An economic odyssey
- Dec 29, 2008 Confluence of negatives
- May 05, 2008 Financing the future-II
- Apr 21, 2008 Financing the future-I
- Mar 10, 2008 Withstanding the waiver
- Jan 28, 2008 Case for a cut
- Dec 04, 2006 Banking on the future
- Nov 15, 2015 Leveraging the CSR mandate
- Oct 04, 2015 Matters of valuation
- Feb 08, 2015 Trysts with e-Governance
- Aug 24, 2014 Strategy and structure
- Apr 20, 2014 The NIF option
- Feb 23, 2014 Realigning governance
- Oct 05, 2009 The Pittsburg principles
- Sep 21, 2009 The search for global confluence
- Nov 03, 2008 Intermediation in infrastructure
- Dec 17, 2007 Execution enigmas
- Aug 09, 2015 Health care - how where and how much?
- Jul 26, 2015 Educational reach and grasp
- Nov 30, 2014 Half-full, half-empty
- Sep 28, 2014 E-ducating India-Technology is just one piece of the puzzle
- Aug 24, 2014 Strategy and structure
- Jun 15, 2014 A potential jobs breakthrough
- May 05, 2014 Walking the line between demographic dividend and disaster
- Jun 29, 2009 Strategy and structure in education
- Jan 12, 2009 Factory to the world
- Jan 14, 2008 Dimensions of inclusiveness-II
- Dec 31, 2007 Dimensions of inclusiveness-I
- Sep 10, 2007 Profiting from education
- May 06, 2015 Re-starting infrastructure
- Feb 22, 2015 Having your cake
- May 19, 2014 Three national missions on priority for the Modi government
- May 05, 2014 Walking the line between demographic dividend and disaster
- Apr 20, 2014 The NIF option
- Mar 09, 2014 Slippery slope for infrastructure
- Mar 10, 2013 From bottleneck to bottleneck
- Nov 03, 2008 Intermediation in infrastructure
- Jun 16, 2008 End of the India story
- Dec 17, 2007 Execution enigmas
- May 31, 2015 Made by robots
- Feb 08, 2015 Trysts with e-Governance
- Jul 13, 2014 Demanding to be included
- Jan 12, 2014 BHAG inclusion BHAG
- Apr 21, 2013 Pathways to obsolescence
- Dec 04, 2006 Banking on the future
- Mar 29, 2017 What ails investment?
- Sep 20, 2015 Shaping the Asian financial architecture
- Sep 06, 2015 From Pittsburg to Antalya
- Jun 14, 2015 The crumple zone
- Apr 19, 2015 Who is afraid of capital convertibility?
- Mar 22, 2015 Global divergences
- Jan 25, 2015 The bilateral imperative
- Sep 21, 2014 Global silver linings
- Jun 29, 2014 Modi's twin challenge - oil and water
- Mar 09, 2014 Slippery slope for infrastructure
- Dec 15, 2013 All that glitters
- Jul 14, 2013 The assignment problem
- Jun 16, 2013 A long haul
- Apr 21, 2013 Pathways to obsolescence
- Mar 24, 2013 Capital flow conundrums
- Nov 16, 2009 The industrial divide
- Oct 05, 2009 The Pittsburg principles
- Sep 21, 2009 The search for global confluence
- Jan 26, 2009 Focus on risks
- Dec 29, 2008 Confluence of negatives
- Dec 15, 2008 Virtues of diversification
- Aug 11, 2008 Development vs trade?
- Jun 16, 2008 End of the India story
- Jun 02, 2008 Stress scenario
- Jan 28, 2008 Case for a cut
- Jun 28, 2015 Educational re-alignments
- Nov 02, 2014 You can't kill two birds
- Sep 28, 2014 E-ducating India-Technology is just one piece of the puzzle
- Jun 15, 2014 A potential jobs breakthrough
- May 19, 2014 Three national missions on priority for the Modi government
- May 05, 2014 Walking the line between demographic dividend and disaster
- Jun 29, 2009 Strategy and structure in education
- Jan 12, 2009 Factory to the world
- Dec 15, 2008 Virtues of diversification
- Mar 29, 2017 What ails investment?
- Oct 18, 2015 Tur travails
- Jun 14, 2015 The crumple zone
- May 03, 2015 Rainfall and the economy
- Apr 19, 2015 Who is afraid of capital convertibility?
- Apr 05, 2015 The great oil circle
- Mar 22, 2015 Global divergences
- Feb 28, 2015 A big leap forward
- Jan 25, 2015 The bilateral imperative
- Nov 16, 2014 Can our banks finance the economic recovery?
- Jul 27, 2014 Explaining expectations
- Jun 29, 2014 Modi's twin challenge - oil and water
- Mar 23, 2014 Bang for the buck
- Jul 14, 2013 The assignment problem
- Mar 10, 2013 From bottleneck to bottleneck
- Mar 01, 2013 The impossible trinity
- Feb 11, 2013 Time for a national policy agenda
- Nov 16, 2009 The industrial divide
- Nov 02, 2009 An economic odyssey
- Sep 07, 2009 Smoothening the exit
- Aug 24, 2009 Beyond the crisis
- Aug 10, 2009 Differentiated recovery
- Jul 27, 2009 The interest rate pendulum
- Feb 23, 2009 Re-visiting growth drivers
- Feb 09, 2009 The housing imperative
- Dec 15, 2008 Virtues of diversification
- Jul 14, 2008 Shock absorbers
- Jun 30, 2008 Fiscal spillovers
- Jun 16, 2008 End of the India story
- May 19, 2008 Food fright
- May 05, 2008 Financing the future-II
- Apr 21, 2008 Financing the future-I
- Apr 07, 2008 Merits of the status quo
- Jan 14, 2008 Dimensions of inclusiveness-II
- Dec 31, 2007 Dimensions of inclusiveness-I
- Oct 22, 2007 Hold, hack or hike?
- Oct 08, 2007 Manufacturing mathematics
- Jul 03, 2006 Tomato pickle
- May 10, 2004 Mystery of the missing FMCGs
- Nov 15, 2015 Leveraging the CSR mandate
- Nov 01, 2015 A fiscal framework for missions
- Oct 18, 2015 Tur travails
- Jul 26, 2015 Educational reach and grasp
- Jul 12, 2015 Profiling and targeting
- May 06, 2015 Re-starting infrastructure
- May 03, 2015 Rainfall and the economy
- Apr 05, 2015 The great oil circle
- Mar 08, 2015 The other side of devolution
- Feb 28, 2015 A big leap forward
- Feb 22, 2015 Having your cake
- Dec 28, 2014 Tipping points and Goldilocks conditions
- Oct 05, 2014 A capital ladder for infrastructure
- Aug 10, 2014 The SLR barrier
- Jun 29, 2014 Modi's twin challenge - oil and water
- Jun 01, 2014 Five fiscal fixes
- Apr 20, 2014 The NIF option
- Mar 23, 2014 Bang for the buck
- Feb 17, 2014 A national agenda - hopefully
- Jan 26, 2014 The monetary-fiscal battleground
- Dec 15, 2013 All that glitters
- Nov 17, 2013 The state of the state
- Mar 10, 2013 From bottleneck to bottleneck
- Mar 01, 2013 The impossible trinity
- Feb 11, 2013 Time for a national policy agenda
- Nov 02, 2009 An economic odyssey
- Oct 05, 2009 The Pittsburg principles
- Sep 07, 2009 Smoothening the exit
- Aug 24, 2009 Beyond the crisis
- Jul 27, 2009 The interest rate pendulum
- Feb 23, 2009 Re-visiting growth drivers
- Jun 30, 2008 Fiscal spillovers
- May 19, 2008 Food fright
- Sep 10, 2007 Profiting from education
- Nov 01, 2015 A fiscal framework for missions
- Aug 09, 2015 Health care - how where and how much?
- Jul 12, 2015 Profiling and targeting
- Mar 08, 2015 The other side of devolution
- Jun 15, 2014 A potential jobs breakthrough
- Aug 10, 2009 Differentiated recovery
- Feb 23, 2009 Re-visiting growth drivers
- Jan 26, 2009 Focus on risks
- Oct 17, 2017 Diwali ban-the real issue is elsewhere
- Feb 09, 2014 The alpha male syndrome
- May 05, 2013 Balance sheet reforms
Books / Monographs (BK series)
No | Title | Authors(s) |
---|---|---|
BK-1992-008 | Policy options for economic reforms, An IMC/IGIDR Series, Vol.1. Bombay, Indian Merchants' Chamber 1992. | Mishra, Veena; Agrawal, Pradeep; Gokarn, Subir; Saha, Bibhas |
BK-1994-013 | The cement industry in India: Competitive structure, profitability and prospects, ICRA sector focus. Bombay, Investment Information and Credit Rating Agency (ICRA), 1994. | Gokarn, Subir; Vaidya, Rajendra R |
BK-1995-015 | Economic restructuring in East Asia and India: Perspectives on policy reforms. New Delhi, Macmillan India, 1995. | Agrawal, Pradeep; Gokarn, Subir; Mishra, Veena; Parikh, Kirit S; Sen, Kunal |
BK-2000-033 | Policy regimes and industrial competitiveness: A comparative study of East Asia and India. Hampshire, Macmillan, 2000. | Agrawal, Pradeep; Gokarn, Subir; Mishra, Veena; Parikh, Kirit S; Sen, Kunal |
Research Papers (RP Series)
No | Title | Author |
---|---|---|
RP-1993-063 | Climate change and India's energy policy options: New perspectives on sectoral CO2 emissions and incremental costs, Global environmental change, 3(3), September 1993 | Parikh, Jyoti K; Gokarn, Subir |
RP-1993-075 | Deregulation and industrial performance: A case study of the Indian cement industry, Economic and Political Weekly, V.28(8-9), 1993 | Gokarn, Subir; Vaidya, Rajendra R |
RP-1996-220 | Indian capital market reforms 1992-1996: An assessment, Economic and Political Weekly, V.31(15), 1996 | Gokarn, Subir |
RP-2000-429 | The East-Asian crisis of 1997: Some implications for India, India development report, 1999-2000. Ed by Kirit S. Parikh, New Delhi,Oxford Uni Pr,1999 | Gokarn, Subir |
Discussion Papers (DP Series)
No | Title | Author(s) |
---|---|---|
DP-91-59 | Consumption Patterns: The Driving Force of Environmental Stress. | Jyoti Parikh,Kirit Parikh,Subir Gokarn,J.P. Painuly and Bibhas Saha |
DP-92-76 | Climate Change and India's Energy Policy Options | Jyoti Parikh and Subir Gokarn |
DP-92-83 | Learning from Tigers and Cubs Economic Restructuring in East Asia : Lessons for India | Pradeep Agrawal ,Subir V. Gokarn,Veena Mishra,Kirit Parikh and Kunal Sen |
DP-93-86 | Deregulation and Industrial Performance: A Case Study of the Indian Cement Industry | Subir Gokarn and Rajendra Vaidya |
Projects and Proceedings (PP series)
No | Title | Author |
---|---|---|
PP-030 | Financial sector reform in India | Ashima Goyal,Pradeep Agarwal,Kunal Sen,Subir Gokarn,Rajedra R. Vaidya,K.S.Parikh |
PP-026 | Policies for industrial competitiveness: What India can learn from the East Asian experience. | Pradeep Agarwal,Subir Gokarn,Veena Mishra,Kirit S. Parikh and Kunal Sen |
PP-014 | Consumption patterns: The driving force of environmental stress. Report prepared for United Nations Conference on Environment and Development (UNCED), 1991. | J.K.Parikh,Kirit S. Parikh,Subir Gokarn,J.P.Painuly,Bibhas Saha,Vibhooti Shukla |
S.No. | Name | Degree | Batch | Year of award | Thesis Title | Supervisor(s) | Thesis Committee Members |
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1 | Rajendra R. Rane | Ph.D. | 1991 | 1999 | Risk, Returns, Anomalies and Efficiency of the Indian Stock Market: A Study of Cross-Sectional and Calendar Effects in the Bombay Stock Exchange (1964) | Dr. Kirit S. Parikh; Dr. Subir Gokarn | Dr.Rajendra Vaidya; Dr. PV Srinivasan |
2 | Vinish Kumar Kathuria | Ph.D. | 1993 | 2000 | Technology Transfer, Productivity Spillovers and Technical Change-A Study of Indian Manufacturing Industry | Dr.Subir Gokarn | Dr. Subrata Sarkar; Dr. K.V. Ramaswamy |
3 | Tushar M. Waghmare | Ph.D. | 1993 | 2001 | Market Microstructure and Performance: A Study of the Indian Stock Market | Dr.Subir Gokarn | Dr. Rajendra V.; Dr. Subrata Sarkar; Dr. Ajay Shah |
4 | Saumitra N. Bhaduri | Ph.D. | 1994 | 200 | Patterns and Determinants of Capital Structure: A Study of the Indian Corporate Sector | Dr. Subir Gokarn; Dr. Subrata Sarkar | Dr. B. Guha-Khasnobis; Dr. Jayati Sarkar |
5 | Vardhana Saple | Ph.D. | 1994 | 2000 | Diversification, Merger and their Effect on Firm Performance - A Study of the Indian Corporate Sector | Dr. Subir Gokarn; Dr. Rajendra R.Vaidya | Dr. Anindya Sen; Dr. Subrata Sarkar |